PTGX director sells 9,000 shares after option exercise

Rhea-AI Filing Summary

Protagonist Therapeutics director William D. Waddill exercised stock options for 9,000 shares of common stock at strike prices of $16.54 and $11.80, then sold 9,000 shares in an open-market transaction at a weighted average price of $107.68 under a pre-arranged Rule 10b5-1 trading plan, leaving him with 7,825 shares held directly.

Insights

Equity compensation and insider-trading analyst

Routine option exercise and pre-planned sale with modest net reduction.

Director William D. Waddill exercised stock options for 9,000 shares of Protagonist Therapeutics common stock at strike prices of $16.54 and $11.80. The options were fully vested, indicating a standard compensation-related event.

He sold 9,000 shares at a weighted average price of $107.68, in multiple trades between $107.02 and $108.00. A footnote states these transactions occurred under a Rule 10b5-1 trading plan adopted on February 27, 2026, suggesting the timing was pre-scheduled rather than opportunistic.

After the transactions, he directly holds 7,825 shares. The filing also shows no remaining derivative positions in this excerpt, consistent with exercising the referenced options. Overall, this appears to be routine equity compensation monetization with a net-sell outcome but limited signaling value due to the pre-planned nature.

Insider Trade Summary 10b5-1

Exercise and Sale: 9,000 shares ($834K approx. pre-tax spread)

Exercise and Sale 5 txns

Insider Waddill William D.

Role Director

Sold 9,000 shs ($969K)

Approx. gross sale proceeds $969K

Approx. exercise cost $135K

Approx. pre-tax spread $834K

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	3,000	$0.00	$0.00
Exercise	Stock Option (right to buy)	6,000	$0.00	$0.00
Exercise	Common Stock	3,000	$11.80	$35K
Exercise	Common Stock	6,000	$16.54	$99K
Sale	Common Stock	9,000	$107.68	$969K

Holdings After Transaction: Stock Option (right to buy) — 9,000 contracts (Direct); Common Stock — 7,825 shares (Direct)

Footnotes (3)

1. F1. The transactions set forth on this Form 4 were effected pursuant to a 10b5-1 plan adopted by the reporting person on February 27, 2026.
2. F2. The price reported represents the weighted average sale price per share. The shares were sold in multiple transactions at prices ranging from $107.02 to $108.00. Upon request by the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
3. F3. These stock options are fully vested.

Key Figures

Shares sold: 9,000 shares Weighted average sale price: $107.68 per share Options exercised: 9,000 shares underlying options +3 more

6 metrics

Shares sold 9,000 shares Common stock sold in open-market transactions on June 10, 2026

Weighted average sale price <money>$107.68</money> per share Common stock sale price range $107.02–$108.00

Options exercised 9,000 shares underlying options Common stock acquired via option exercises on June 10, 2026

Option strike prices <money>$16.54</money> and <money>$11.80</money> Exercise prices for stock options converted into common shares

Shares held after transaction 7,825 shares Direct ownership of common stock following reported transactions

10b5-1 plan adoption date <date>February 27, 2026</date> Plan governing timing of reported trades

Key Terms

Rule 10b5-1, weighted average sale price, Stock Option (right to buy), fully vested, +1 more

5 terms

Rule 10b5-1 regulatory

"were effected pursuant to a 10b5-1 plan adopted by the reporting person on February 27, 2026"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

weighted average sale price financial

"The price reported represents the weighted average sale price per share"

Stock Option (right to buy) financial

"security_title": "Stock Option (right to buy)""

fully vested financial

"These stock options are fully vested"

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did PTGX director William D. Waddill report?

William D. Waddill reported exercising options for 9,000 PTGX shares and selling 9,000 common shares. The sale occurred at a weighted average price of $107.68 per share, with trades executed between $107.02 and $108.00.

At what prices did William D. Waddill exercise PTGX stock options and sell shares?

He exercised options at strike prices of $16.54 and $11.80 per share, acquiring 9,000 PTGX shares. He then sold 9,000 shares at a weighted average price of $107.68, with individual trades ranging from $107.02 to $108.00.

Were William D. Waddill’s PTGX share sales made under a Rule 10b5-1 plan?

Yes. A footnote states all reported PTGX transactions were effected under a Rule 10b5-1 trading plan adopted on February 27, 2026. Such pre-arranged plans indicate the timing of trades was scheduled in advance, reducing timing-related interpretation.

How many PTGX shares does William D. Waddill hold after these transactions?

Following the reported transactions, William D. Waddill directly holds 7,825 shares of Protagonist Therapeutics common stock. This figure reflects the net position after exercising 9,000 options and selling 9,000 shares in open-market transactions.

What does the PTGX Form 4 reveal about William D. Waddill’s stock options?

The Form 4 shows exercises of fully vested stock options covering 9,000 underlying PTGX shares at strike prices of $16.54 and $11.80. A footnote confirms these options were fully vested at the time of exercise, indicating standard equity compensation usage.

How many PTGX shares did William D. Waddill sell, and what is the net direction?

He sold 9,000 PTGX common shares in open-market transactions. Combined with the exercise of 9,000 options, the transaction summary characterizes the overall activity as net-sell in terms of buy versus sell share flow for this filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/11/2026 - 07:06 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Waddill William D.

(Last) (First) (Middle)

C/O PROTAGONIST THERAPEUTICS, INC.

7707 GATEWAY BLVD., SUITE 140

(Street)

NEWARK CALIFORNIA 94560-1160

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Protagonist Therapeutics, Inc [ PTGX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/10/2026		M(1)		3,000	A	$11.8	10,825	D
Common Stock	06/10/2026		M(1)		6,000	A	$16.54	16,825	D
Common Stock	06/10/2026		S		9,000	D	$107.68(2)	7,825	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$11.8	06/10/2026		M			3,000	(3)	06/06/2029	Common Stock	3,000	$0.00	0	D
Stock Option (right to buy)	$16.54	06/10/2026		M			6,000	(3)	05/27/2030	Common Stock	6,000	$0.00	9,000	D

Explanation of Responses:

1. The transactions set forth on this Form 4 were effected pursuant to a 10b5-1 plan adopted by the reporting person on February 27, 2026.

2. The price reported represents the weighted average sale price per share. The shares were sold in multiple transactions at prices ranging from $107.02 to $108.00. Upon request by the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.

3. These stock options are fully vested.

	/s/ Matthew Gosling, Attorney-in-Fact for William D. Waddill	06/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)