Randall Kaye - 16 Sep 2024 Form 4 Insider Report for Longboard Pharmaceuticals, Inc.

Role
CMO
Signature
/s/ Andrew J. Cronauer, Attorney-In-Fact
Issuer symbol
N/A
Transactions as of
16 Sep 2024
Net transactions value
-$454,821
Form type
4
Filing time
16 Sep 2024, 19:36:15 UTC
Previous filing
09 Feb 2024
Next filing
16 Oct 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LBPH Common Stock Options Exercise $72,497 +16,666 +93% $4.35 34,586 16 Sep 2024 Direct F1, F2
transaction LBPH Common Stock Sale $289,278 -9,366 -27% $30.89 25,220 16 Sep 2024 Direct F1, F2, F3
transaction LBPH Common Stock Sale $133,622 -4,200 -17% $31.81 21,020 16 Sep 2024 Direct F1, F2, F4
transaction LBPH Common Stock Sale $39,750 -1,200 -5.7% $33.12 19,820 16 Sep 2024 Direct F1, F2, F5
transaction LBPH Common Stock Sale $64,668 -1,900 -9.6% $34.04 17,920 16 Sep 2024 Direct F1, F2, F6

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 LBPH Stock Option (Right to Buy) Options Exercise $0 -16,666 -13% $0.000000 112,967 16 Sep 2024 Common Stock 16,666 $4.35 Direct F1, F7
* 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 The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan established by the reporting person.
F2 The amount reported includes the 17,920 restricted stock units (RSUs) that were granted on February 8, 2024, and reported in a Form 4 filed on February 9, 2024. The RSUs will vest in four equal annual installments commencing on February 8, 2025, and the shares underlying the RSUs will be issued upon vesting and release of the RSUs.
F3 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.54 to $31.52, inclusive. The reporting person undertakes to provide Longboard Pharmaceuticals, Inc., any security holder of Longboard Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 3, 4, 5 and 6 to this Form 4.
F4 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $31.56 to $32.40, inclusive.
F5 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.80 to $33.68, inclusive.
F6 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.86 to $34.33, inclusive.
F7 The shares subject to the stock option vest and become exercisable in 48 equal monthly installments commencing March 9, 2023.