Steven B. Binder - May 25, 2023 Form 4 Insider Report for MANNKIND CORP (MNKD)

Role
Chief Financial Officer
Signature
/s/ Steven B. Binder
Stock symbol
MNKD
Transactions as of
May 25, 2023
Transactions value $
$0
Form type
4
Date filed
5/26/2023, 09:00 PM
Previous filing
May 24, 2023
Next filing
Nov 19, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MNKD Common Stock, $.01 Par Value Award $0 +92K +10.97% $0.00 930K May 25, 2023 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 MNKD Performance Restricted Stock Unit Award $0 +113K $0.00 113K May 25, 2023 Common Stock, $.01 Par Value 113K Direct F1, 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% vests on July 15, 2024 and each yearly anniversary thereof until fully vested.
F3 The performance-based restricted stock unit will vest on July 15, 2026, provided that the closing price of MannKind common stock on the Nasdaq Global Market on June 30, 2026 is not less than the closing sale price on July 1, 2023. The number of shares delivered on the vesting date, as a percentage of the target specified in Table II Box 5 above, is determined by the percentile ranking of MannKind total shareholder return (TSR) over the period from July 1, 2023 until June 30, 2026 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.