John A. Borgeson - Jun 14, 2023 Form 4 Insider Report for Kodiak Sciences Inc. (KOD)

Signature
/s/ David Peinsipp, Attorney-in-Fact for John A. Borgeson
Stock symbol
KOD
Transactions as of
Jun 14, 2023
Transactions value $
-$39,013
Form type
4
Date filed
6/16/2023, 08:25 PM
Previous filing
Jun 13, 2023
Next filing
Jun 27, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KOD Common Stock Sale -$13.6K -1.45K -0.82% $9.42 175K Jun 14, 2023 Direct F1
transaction KOD Common Stock Options Exercise +5.49K +3.13% 181K Jun 15, 2023 Direct F2
transaction KOD Common Stock Sale -$25.4K -2.75K -1.52% $9.23 178K Jun 16, 2023 Direct F3

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 KOD Restricted Stock Units Options Exercise $0 -3.62K -50% $0.00 3.62K Jun 15, 2023 Common Stock 3.62K Direct F2, F4
transaction KOD Restricted Stock Units Options Exercise $0 -1.88K -33.33% $0.00 3.75K Jun 15, 2023 Common Stock 1.88K Direct F2, F5
* 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 sale reported on this Form 4 represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of the restricted stock units ("RSU") on June 11, 2023. The sale satisfies the tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person. The sale is intended to comply with the requirements of Rule 10b5-1(c)(1) under the Exchange Act and be interpreted to meet the requirements of Rule 10b5-1(c).
F2 Each RSU represents a contingent right to receive one (1) share of the Issuer's common stock.
F3 The sale reported on this Form 4 represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of the RSUs on June 15, 2023. The sale satisfies the tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person. The sale is intended to comply with the requirements of Rule 10b5-1(c)(1) under the Exchange Act and be interpreted to meet the requirements of Rule 10b5-1(c).
F4 One-fourth (1/4th) of the RSUs vest on each of the first four anniversaries of June 15, 2020, subject to the Reporting Person's status as a Service Provider (as defined in the 2018 Equity Incentive Plan) on each vesting date.
F5 One-fourth (1/4th) of the RSUs vest on each of the first four anniversaries of June 15, 2021, subject to the Reporting Person's status as a Service Provider (as defined in the 2018 Equity Incentive Plan) on each vesting date.

Remarks:

Executive Vice President and Chief Financial Officer