Aranthan S. Jones II - 15 Sep 2021 Form 4 Insider Report for Vanda Pharmaceuticals Inc. (VNDA)

Role: Chief Corp. Affairs Officer
Signature: /s/ Aranthan S. Jones II
Issuer symbol: VNDA
Transactions as of: 15 Sep 2021
Net transactions value: -$136,144
Form type: 4
Filing time: 17 Sep 2021, 08:52:04 UTC
Previous filing: 27 Jul 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VNDA	Common Stock	Options Exercise	$52,479	+4,277	+4.9%	$12.27	90,962	15 Sep 2021	Direct
transaction	VNDA	Common Stock	Options Exercise	$88,771	+7,842	+8.6%	$11.32	98,804	15 Sep 2021	Direct
transaction	VNDA	Common Stock	Sale	$277,394	-16,824	-17%	$16.49	81,980	15 Sep 2021	Direct	F1, F2

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	VNDA	Employee Stock Option (Right to Buy)	Options Exercise	$0	-4,277	-11%	$0.000000	33,224	15 Sep 2021	Common Stock	4,277	$12.27	Direct	F3
transaction	VNDA	Employee Stock Option (Right to Buy)	Options Exercise	$0	-7,842	-14%	$0.000000	47,158	15 Sep 2021	Common Stock	7,842	$11.32	Direct	F4

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

Explanation of Responses:

Id	Content
F1	A portion of the shares was sold to satisfy the exercise price and tax obligations relating to the acquisition of the shares in connection with the stock option exercise.
F2	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.40 to $16.605, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (2) to this Form 4.
F3	The option vested with respect to 25% of the underlying shares on July 25, 2020, with the remaining 75% of the shares vesting in 36 equal monthly installments beginning August 25, 2020, provided the Reporting Person remains continuously employed by the Issuer through each monthly vesting date.
F4	The option vested with respect to 25% of the underlying shares on February 26, 2021, with the balance vesting in equal monthly installments over the next 36 months of continuous service thereafter, provided the Reporting Person remains continuously employed by the Issuer through the applicable vesting date.