BlackRock reports 2.5M VNDA shares (13G/A)

BlackRock Portfolio Management LLC filed an amendment to a Schedule 13G/A reporting beneficial ownership of 2,508,488 shares of Vanda Pharmaceuticals Inc. Common Stock.

Rhea-AI Filing Summary

BlackRock Portfolio Management LLC filed an amendment to a Schedule 13G/A reporting beneficial ownership of 2,508,488 shares of Vanda Pharmaceuticals Inc. Common Stock. The filing shows 2,206,827 shares with sole voting power and states this equals 4.2% of the class.

Insights

Institutional Ownership Analyst

BlackRock reports a 4.2% stake in VNDA with voting and dispositive control.

The amendment lists 2,508,488 shares beneficially owned and 2,206,827 shares where BlackRock has sole voting power. This is a passive institutional holding disclosed under Schedule 13G/A norms.

Ownership is below typical 5% thresholds for some activist signalling; subsequent filings would reveal changes to scale or voting alignment.

Key Figures

Beneficially owned shares: 2,508,488 shares Sole voting power: 2,206,827 shares Percent of class: 4.2% +2 more

5 metrics

Beneficially owned shares 2,508,488 shares Amount beneficially owned reported in amendment

Sole voting power 2,206,827 shares Shares for which filer has sole power to vote

Percent of class 4.2% Percent of class reported in Item 4(b)

Form type Schedule 13G/A Amendment filing reporting passive institutional ownership

CUSIP 921659108 CUSIP for Vanda Pharmaceuticals Inc. Common Stock

Key Terms

Schedule 13G/A, Beneficial ownership, Sole dispositive power, Investment Company Act

4 terms

Schedule 13G/A regulatory

"Amendment to a Schedule 13G/A reporting beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficial ownership financial

"Amount beneficially owned: 2508488"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 2508488"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Investment Company Act regulatory

"investment company registered under the Investment Company Act of 1940"

The Investment Company Act is a law that sets rules for businesses whose main activity is managing and selling pooled money, such as mutual funds and other investment funds. It matters to investors because it requires clear reporting, limits managers from putting their own interests ahead of clients, and mandates safekeeping and oversight of assets—similar to safety inspections and traffic rules that help keep shared vehicles reliable and trustworthy.

FAQ

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

What stake does BlackRock report in VNDA?

BlackRock reports beneficial ownership of 2,508,488 shares (4.2%). The filing lists 2,206,827 shares with sole voting power and 2,508,488 shares with sole dispositive power as of the amendment.

Does this filing indicate BlackRock will sell or buy VNDA shares?

The amendment does not disclose a transaction intent. It reports current beneficial ownership and voting/dispositive power; no purchases, sales, or planned transactions are stated in the provided excerpt.

What does 'sole dispositive power' mean in this 13G/A?

'Sole dispositive power' means the filer can direct the sale of shares. The filing shows BlackRock holds dispositive authority over 2,508,488 VNDA shares, indicating control over disposition decisions for those shares.

Is BlackRock considered a greater-than-5% holder of VNDA after this filing?

No; the filing reports a 4.2% stake. The amendment explicitly states the ownership percentage as 4.2%, which is below a 5% beneficial ownership threshold referenced in reporting rules.

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

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Accepted by SEC EDGAR 04/29/2026 - 04:08 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Vanda Pharmaceuticals Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

921659108

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 921659108

1

Names of Reporting Persons

BlackRock Portfolio Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,206,827.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,508,488.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,508,488.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.2 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Vanda Pharmaceuticals Inc.
(b)	Address of issuer's principal executive offices: 2200 PENNSYLVANIA AVE NW, SUITE 300E WASHINGTON DC 20037
Item 2.
(a)	Name of person filing: BlackRock Portfolio Management LLC In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock Portfolio Management LLC, 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 921659108
Item 4.	Ownership
(a)	Amount beneficially owned: 2508488
(b)	Percent of class: 4.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2206827
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2508488
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of Vanda Pharmaceuticals Inc.. No one person's interest in the common stock of Vanda Pharmaceuticals Inc. is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock Portfolio Management LLC

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	04/29/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7