Michael Castagna - May 17, 2024 Form 4 Insider Report for MANNKIND CORP (MNKD)

Role: Chief Executive Officer, Director
Signature: /s/ Michael Castagna
Stock symbol: MNKD
Transactions as of: May 17, 2024
Transactions value $: -$229,638
Form type: 4
Date filed: 5/21/2024, 09:00 PM
Previous filing: May 17, 2024
Next filing: Jul 17, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MNKD	Common Stock, $0.01 Par Value	Award	$1.02M	+221K	+8.65%	$4.59	2.78M	May 17, 2024	Direct	F1
transaction	MNKD	Common Stock, $0.01 Par Value	Tax liability	-$1.13M	-245K	-8.82%	$4.59	2.54M	May 17, 2024	Direct	F2
transaction	MNKD	Common Stock, $0.01 Par Value	Tax liability	-$120K	-26.1K	-1.03%	$4.59	2.51M	May 18, 2024	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	A previously reported restricted stock unit award granted on May 18, 2021 vested on May 17, 2024 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 17, 2024 was not less than the closing price on May 17, 2021 and (ii) MannKind's total shareholder return (TSR) over the period from May 18, 2021 to May 17, 2024 was at the 74.5th percentile of the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same period. As a result, the performance objective was achieved at 198% of target, resulting in a total share delivery of 447,480 shares. The acquisition of 226,000 shares pursuant to the restricted stock award was reported in Table I of the Form 4 filed by the Reporting Person on May 18, 2021.
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.

Content

A previously reported restricted stock unit award granted on May 18, 2021 vested on May 17, 2024 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 17, 2024 was not less than the closing price on May 17, 2021 and (ii) MannKind's total shareholder return (TSR) over the period from May 18, 2021 to May 17, 2024 was at the 74.5th percentile of the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same period. As a result, the performance objective was achieved at 198% of target, resulting in a total share delivery of 447,480 shares. The acquisition of 226,000 shares pursuant to the restricted stock award was reported in Table I of the Form 4 filed by the Reporting Person on May 18, 2021.

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.