Protagonist Therapeutics (NASDAQ: PTGX) CEO sells 75,000 shares after exercising options

Rhea-AI Filing Summary

Protagonist Therapeutics, Inc. President and CEO Dinesh V. Patel reported an exercise-and-sale transaction in company stock. He exercised stock options to acquire 75,000 shares of common stock at an exercise price of $21.58 per share, then sold 75,000 shares in an open-market transaction at a weighted average price of $100.12 per share across multiple trades ranging from $98.83 to $103.50. Following these transactions, he directly holds 523,478 shares of common stock. The exercised stock options were fully vested and are scheduled to expire on October 11, 2026.

Insights

Equity compensation analyst

CEO executes routine option exercise and partial share sale.

CEO Dinesh V. Patel exercised stock options for 75,000 Protagonist Therapeutics shares at an exercise price of $21.58, then sold 75,000 shares at a weighted average of $100.12 in open-market trades between $98.83 and $103.50.

This pattern reflects an exercise-and-sell transaction, converting an option position into cash while maintaining a substantial remaining equity stake of 523,478 common shares. The derivativeSummary shows no remaining position from this option grant, and the options were fully vested with an expiration date of October 11, 2026.

The sale represents a minority portion of his post-transaction holdings, so it appears as a notable but not transformational change in exposure. Actual significance for investors depends on broader context such as total shares outstanding and prior trading history, which are not included here.

Insider Trade Summary

Net Seller: 75,000 shares ($7,509,000)

Net Sell 3 txns

Insider PATEL DINESH V PH D

Role President and CEO

Sold 75,000 shs ($7.51M)

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	75,000	$0.00	--
Exercise	Common Stock	75,000	$21.58	$1.62M
Sale	Common Stock	75,000	$100.12	$7.51M

Holdings After Transaction: Stock Option (right to buy) — 225,000 shares (Direct, null); Common Stock — 598,478 shares (Direct, null)

Footnotes (1)

1. The price reported represents the weighted average sale price per share. The shares were sold in multiple transactions at prices ranging from $98.83 to $103.50. 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. These stock options are fully vested and will expire on October 11, 2026.

Key Figures

Shares sold: 75,000 shares Weighted average sale price: $100.12 per share Options exercise price: $21.58 per share +4 more

7 metrics

Shares sold 75,000 shares Common stock sold in open-market transaction

Weighted average sale price $100.12 per share Open-market sale price range $98.83–$103.50

Options exercise price $21.58 per share Stock option exercise for 75,000 shares

Post-transaction holdings 523,478 shares Common stock directly owned after transactions

Options exercised 75,000 options Stock Option (right to buy) converted into common shares

Option expiration date October 11, 2026 Fully vested options’ expiration from footnote

Price range of sales $98.83–$103.50 Range of individual trade prices for sold shares

Key Terms

weighted average sale price, Stock Option (right to buy), open-market sale, derivative security

4 terms

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) with underlying common stock."

open-market sale financial

"transaction_action is described as an open-market sale in common stock."

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.

derivative security financial

"transaction_code_description notes exercise or conversion of derivative security."

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

Form 4 Insider Transactions: What Each Field Means →

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).

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^*

PATEL DINESH V PH 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
X	Officer (give title below)		Other (specify below)
	President and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/12/2026

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	05/12/2026		M		75,000	A	$21.58	598,478	D
Common Stock	05/12/2026		S		75,000	D	$100.12(1)	523,478	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)	$21.58	05/12/2026		M			75,000	(2)	10/11/2026	Common Stock	75,000	$0.00	225,000	D

Explanation of Responses:

1. The price reported represents the weighted average sale price per share. The shares were sold in multiple transactions at prices ranging from $98.83 to $103.50. 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.

2. These stock options are fully vested and will expire on October 11, 2026.

	/s/ Matthew Gosling, Attorney-in-Fact for Dinesh V. Patel, Ph.D.	05/12/2026
	** 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)

FAQ

What insider transaction did PTGX CEO Dinesh Patel report on this Form 4?

Dinesh V. Patel reported exercising stock options for 75,000 Protagonist Therapeutics shares and selling 75,000 common shares. The sale was an open-market transaction and reflects an exercise-and-sell pattern rather than a pure open-market purchase or sale decision.

At what prices did the PTGX CEO sell his Protagonist Therapeutics shares?

The CEO sold 75,000 Protagonist Therapeutics shares at a weighted average price of $100.12. Individual trades occurred at prices ranging from $98.83 to $103.50, according to the weighted-average pricing footnote in the Form 4 filing.

How many Protagonist Therapeutics (PTGX) shares does the CEO own after this transaction?

After the reported transactions, CEO Dinesh V. Patel directly holds 523,478 shares of Protagonist Therapeutics common stock. This figure reflects his remaining equity stake following the exercise of stock options and the sale of 75,000 common shares disclosed in the Form 4.

What was the exercise price of the PTGX stock options used in this transaction?

The exercised stock options had an exercise price of $21.58 per share. Patel used these options to acquire 75,000 shares of Protagonist Therapeutics common stock before selling an equal number of shares in open-market transactions reported in the Form 4 filing.

When do the Protagonist Therapeutics stock options involved in this Form 4 expire?

The stock options exercised by the PTGX CEO are fully vested and will expire on October 11, 2026. This expiration date comes from the Form 4 footnote, which clarifies the remaining life of the option grant used in the reported transaction.

Was the PTGX CEO’s sale classified as an open-market transaction?

Yes. The Form 4 labels the transaction with code "S" and describes it as an open-market or private transaction. The shares were sold at market-based prices between $98.83 and $103.50, producing a weighted average sale price of $100.12 per share.