Kodiak Sciences (KOD) CFO exercises 30K options and sells 30K shares under 10b5-1 plan

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Kodiak Sciences Inc. Chief Financial Officer John A. Borgeson reported an exercise-and-sell transaction involving company stock. On April 2, 2026, he exercised stock options to acquire 30,000 shares of Common Stock at an exercise price of $1.04 per share. The option was fully vested and scheduled to expire on June 22, 2026.

On the same date, he sold a total of 30,000 Common shares in multiple open-market transactions at weighted-average prices of $39.14, $40.29, $40.88, and $41.77 per share. These sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on September 29, 2025. After these transactions, Borgeson directly holds 183,316 shares of Kodiak Sciences Common Stock.

Insider Trade Summary 10b5-1

Net Seller: 30,000 shares ($1,197,488)

Net Sell 6 txns

Insider BORGESON JOHN A.

Role Chief Financial Officer

Sold 30,000 shs ($1.20M)

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	30,000	$0.00	--
Exercise	Common Stock	30,000	$1.04	$31K
Sale	Common Stock	12,692	$39.14	$497K
Sale	Common Stock	12,477	$40.29	$503K
Sale	Common Stock	4,231	$40.88	$173K
Sale	Common Stock	600	$41.77	$25K

Holdings After Transaction: Stock Option (Right to Buy) — 58,614 shares (Direct); Common Stock — 213,316 shares (Direct)

Footnotes (1)

The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on September 29, 2025. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $38.68 to $39.67, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in these footnotes. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $39.68 to $40.67, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $40.68 to $41.67, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $41.69 to $41.91, inclusive. The shares subject to this option are fully vested.

Key Figures

Options exercised: 30,000 shares Option exercise price: $1.04 per share Shares sold: 30,000 shares +5 more

8 metrics

Options exercised 30,000 shares Stock Option (Right to Buy) exercised on April 2, 2026

Option exercise price $1.04 per share Exercise price for 30,000-stock option grant

Shares sold 30,000 shares Total Common Stock sold in open-market trades on April 2, 2026

Sale price (weighted average 1) $39.14 per share Weighted-average price for one tranche of Common Stock sales

Sale price (weighted average 2) $40.29 per share Weighted-average price for second tranche of Common Stock sales

Sale price (weighted average 3) $40.88 per share Weighted-average price for third tranche of Common Stock sales

Sale price (weighted average 4) $41.77 per share Weighted-average price for fourth tranche of Common Stock sales

Shares held after transaction 183,316 shares CFO’s direct Common Stock ownership after April 2, 2026 trades

Key Terms

Stock Option (Right to Buy), Rule 10b5-1 trading plan, weighted-average price, open-market sale, +1 more

5 terms

Stock Option (Right to Buy) financial

"security_title: "Stock Option (Right to Buy)" with 30,000 underlying shares"

Rule 10b5-1 trading plan financial

"sales were effected pursuant to a 10b5-1 trading plan adopted on September 29, 2025"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted-average price financial

"The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions"

open-market sale financial

"transaction_action: "open-market sale" for Common Stock transactions coded "S""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

fully vested financial

"The shares subject to this option are fully vested."

Form 4 Insider Transactions: What Each Field Means →

04/02/2026 - 08:26 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

BORGESON JOHN A.

(Last)

(First)

(Middle)

1250 PAGE MILL ROAD

(Street)

PALO ALTO

CALIFORNIA

94304

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Kodiak Sciences Inc. [ KOD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/02/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/02/2026		M		30,000	A	$1.04	213,316	D
Common Stock	04/02/2026		S⁽¹⁾		12,692	D	$39.14⁽²⁾	200,624	D
Common Stock	04/02/2026		S⁽¹⁾		12,477	D	$40.29⁽³⁾	188,147	D
Common Stock	04/02/2026		S⁽¹⁾		4,231	D	$40.88⁽⁴⁾	183,916	D
Common Stock	04/02/2026		S⁽¹⁾		600	D	$41.77⁽⁵⁾	183,316	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$1.04	04/02/2026		M			30,000	⁽⁶⁾	06/22/2026	Common Stock	30,000	$0	58,614	D

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on September 29, 2025.

2. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $38.68 to $39.67, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in these footnotes.

3. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $39.68 to $40.67, inclusive.

4. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $40.68 to $41.67, inclusive.

5. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $41.69 to $41.91, inclusive.

6. The shares subject to this option are fully vested.

	/s/ David Peinsipp, Attorney-in-Fact for John A. Borgeson	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Kodiak Sciences (KOD) CFO John A. Borgeson report in this Form 4?

He reported exercising stock options for 30,000 Kodiak Sciences shares and selling 30,000 shares in the open market. The filing shows both the derivative exercise and subsequent sales, along with his updated direct ownership position after the transactions.

How many Kodiak Sciences (KOD) shares did the CFO acquire and at what price?

He exercised options to acquire 30,000 shares of Kodiak Sciences Common Stock at an exercise price of $1.04 per share. These options were fully vested and would have expired on June 22, 2026 if not exercised.

At what prices did the Kodiak Sciences (KOD) CFO sell shares on April 2, 2026?

He sold 30,000 Kodiak Sciences Common shares in several open-market trades at weighted-average prices of $39.14, $40.29, $40.88, and $41.77 per share. Each weighted-average price reflects multiple transactions within specified price ranges.

Was the Kodiak Sciences (KOD) CFO’s stock sale made under a Rule 10b5-1 plan?

Yes. The filing states the sales were effected under a Rule 10b5-1 trading plan adopted by John A. Borgeson on September 29, 2025. Such pre-arranged plans schedule trades in advance to help manage potential trading-related conflicts.

How many Kodiak Sciences (KOD) shares does the CFO hold after these transactions?

After completing the option exercise and the related sales, John A. Borgeson directly holds 183,316 shares of Kodiak Sciences Common Stock. This figure reflects his updated direct ownership position reported as of the April 2, 2026 transactions.

What type of derivative security did the Kodiak Sciences (KOD) CFO exercise?

He exercised a Stock Option (Right to Buy) covering 30,000 underlying shares of Kodiak Sciences Common Stock. The option carried a $1.04 per share exercise price and an expiration date of June 22, 2026, and was fully vested at the time of exercise.