Vanda Pharmaceuticals director buys 10,000 shares

The reported prices are weighted averages for purchases made in multiple transactions on each date.

Available on EDGAR 11/05/2026 - 04:17 PM EST Accepted by SEC EDGAR 11/05/2026 - 04:16 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Vanda Pharmaceuticals Inc. director Charles Cliff Duncan reported direct purchases totaling 10,000 shares: 750 shares at a weighted-average price of $3.7959 per share on November 3, 2026; 3,447 shares at a weighted-average price of $3.8210 per share on November 4, 2026; and 5,803 shares at a weighted-average price of $3.8042 per share on November 5, 2026. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Buyer: 10,000 shares

Net Buy 3 txns

Insider Duncan Charles Cliff

Role Director

Bought 10,000 shs ($38K)

Type	Security	Shares	Price	Value
Purchase	Common Stock F3	5,803	$3.8042	$22K
Purchase	Common Stock F2	3,447	$3.821	$13K
Purchase	Common Stock F1	750	$3.7959	$3K

Holdings After Transaction: Common Stock — 108,701 shares (Direct)

Footnotes (3)

1. F1. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $3.71 to $3.8389 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote (1) to this Form 4.
2. F2. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $3.7799 to $3.89 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote (2) to this Form 4.
3. F3. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $3.72 to $3.85 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote (3) to this Form 4.

Key Figures

Shares purchased: 750 shares Weighted-average price: $3.7959 per share Shares purchased: 3,447 shares +3 more

6 metrics

Shares purchased 750 shares November 3, 2026

Weighted-average price $3.7959 per share November 3, 2026

Shares purchased 3,447 shares November 4, 2026

Weighted-average price $3.8210 per share November 4, 2026

Shares purchased 5,803 shares November 5, 2026

Weighted-average price $3.8042 per share November 5, 2026

Key Terms

weighted average price

1 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

FAQ

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

How many VNDA shares did director Charles Cliff Duncan buy?

Charles Cliff Duncan, a director of Vanda Pharmaceuticals Inc., reported direct purchases totaling 10,000 shares: 750 shares on November 3, 2026; 3,447 shares on November 4, 2026; and 5,803 shares on November 5, 2026. The weighted-average prices were $3.7959, $3.8210, and $3.8042 per share, respectively. No Rule 10b5-1 plan is reported.

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

Form 4 Insider Transactions: What Each Field Means →

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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^*

Duncan Charles Cliff

(Last) (First) (Middle)

2200 PENNSYLVANIA AVENUE NW

SUITE 300E

(Street)

WASHINGTON DISTRICT OF COLUMBIA 20037

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Vanda Pharmaceuticals Inc. [ VNDA ]

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)
11/03/2026

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	11/03/2026		P		750	A	$3.7959(1)	99,451	D
Common Stock	11/04/2026		P		3,447	A	$3.821(2)	102,898	D
Common Stock	11/05/2026		P		5,803	A	$3.8042(3)	108,701	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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $3.71 to $3.8389 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote (1) to this Form 4.

2. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $3.7799 to $3.89 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote (2) to this Form 4.

3. The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $3.72 to $3.85 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote (3) to this Form 4.

	/s/ Charles Cliff Duncan	11/05/2026
	** 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)