Steven B. Binder - 10 May 2025 Form 4 Insider Report for MANNKIND CORP (MNKD)

Role
Director
Signature
/s/ Steven B. Binder
Issuer symbol
MNKD
Transactions as of
10 May 2025
Transactions value $
-$803,927
Form type
4
Filing time
15 May 2025, 21:35:53 UTC
Previous filing
25 Nov 2024
Next filing
20 May 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Binder Steven B. Director 1 CASPER STREET, DANBURY /s/ Steven B. Binder 15 May 2025 0001712601

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MNKD Common Stock, $0.01 Par Value Award $0 +106K +9.82% $0.00 1.18M 10 May 2025 Direct F1
transaction MNKD Common Stock, $0.01 Par Value Tax liability -$399K -87.4K -7.41% $4.56 1.09M 12 May 2025 Direct F2
transaction MNKD Common Stock, $0.01 Par Value Tax liability -$29.4K -6.44K -0.59% $4.56 1.09M 12 May 2025 Direct F2
transaction MNKD Common Stock, $0.01 Par Value Sale -$376K -80.1K -7.37% $4.69 1.01M 13 May 2025 Direct F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MNKD Restricted Stock Unit Award $0 +52.9K $0.00 52.9K 14 May 2025 Common Stock, $0.01 Par Value 52.9K Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 A previously reported restricted stock unit award granted on May 10, 2022 vested on May 10, 2025 upon the achievement of performance objectives established by MannKind's compensation committee at the time of the approval of the award. Specifically, (i) the closing price of MannKind's common stock on May 9, 2025 was not less than the closing price on May 10, 2022 and (ii) MannKind's total shareholder return (TSR) over the period from May 10, 2022 to May 10, 2025 was at the 73.9th percentile of the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same period. As a result, the performance objective was achieved at 196% of target, resulting in a total share delivery of 215,600 shares. The acquisition of 110,000 shares pursuant to the restricted stock award was reported in Table I of the Form 4 filed by the Reporting Person on May 12, 2022.
F2 Payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3 incident to the vesting of previously reported restricted stock units.
F3 Transaction occurred pursuant to Rule 10B5-1 Plan established August 16, 2024.
F4 The weighted average sales price of the reported transaction was $4.69 based on a range of prices between $4.65 and $4.81. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.
F5 Each restricted stock unit represents a contingent right to receive one share of MNKD common stock.
F6 Restricted stock unit vested on May 14, 2025, but the shares will not be delivered until there is a separation of service from the board of directors of MannKind Corporation.