Stuart A. Tross - May 10, 2025 Form 4 Insider Report for MANNKIND CORP (MNKD)

Signature
/s/ Stuart A. Tross
Stock symbol
MNKD
Transactions as of
May 10, 2025
Transactions value $
-$441,294
Form type
4
Date filed
5/15/2025, 09:33 PM
Previous filing
Nov 8, 2024
Next filing
May 20, 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Tross Stuart A Chief People & Workpl Officer 1 CASPER STREET, DANBURY /s/ Stuart A. Tross 2025-05-15 0001589641

Transactions Table

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 Performance Restricted Stock Unit Award $0 +145K $0.00 145K May 13, 2025 Common Stock, $0.01 Par Value 145K Direct F5, F6
* 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 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 Acquired pursuant to a Restricted Stock Unit Award: 25% vest on July 15, 2026 and each yearly anniversary thereof until fully vested. Each restricted stock unit represents a contingent right to receive one share of MNKD common stock.
F4 Includes 1,558 shares acquired under the Issuer's Employee Stock Purchase Plan on December 31, 2024.
F5 Each restricted stock unit represents a contingent right to receive one share of MNKD common stock.
F6 The performance-based restricted stock unit will vest on July 15, 2028. The number of shares delivered on the vesting date, as a percentage of the target specified in Box 5 above, is determined by the percentile ranking of MannKind total shareholder return (TSR) over the period from July 1, 2025 until June 30, 2028 relative to the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same three-year period, as follows: less than 25th percentile=0% of target, 25th percentile=50% of target, 50th percentile=100% of target, 75th percentile=200% percent of target, 90th percentile or higher=300% maximum. Payout values will be interpolated between the percentile rankings above.