Michael Castagna - May 18, 2021 Form 4 Insider Report for MANNKIND CORP (MNKD)

Role
Chief Executive Officer, Director
Signature
/s/ Michael Castagna
Stock symbol
MNKD
Transactions as of
May 18, 2021
Transactions value $
$0
Form type
4
Date filed
5/20/2021, 05:00 PM
Next filing
Aug 2, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MNKD Restricted Stock Unit Award $0 +190K +17.01% $0.00 1.31M May 18, 2021 Direct F1, F2
transaction MNKD Restricted Stock Unit Award $0 +226K +17.28% $0.00 1.53M May 18, 2021 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of MNKD common stock.
F2 Acquired pursuant to a Restricted Stock Unit Award: 25% vest on each year annivesary of the vesting determination date and 25% each anniversary thereafter; shares shall fully vest on the fourth year anniversary of the vesting determination date.
F3 The restricted stock unit will vest on May 17, 2024 provided that the closing price of MannKind common stock on such vesting date is not less than the closing price on May 17, 2021. The number of shares delivered on the vesting date, as a percentage of the target specified in Box 4 above, is determined by the percentile ranking of MannKind total shareholder return (TSR) over the period from May 18, 2021 until May 17, 2024 relative to the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same 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.