Form 4: Pliant CFO Sells Shares for Tax Obligations

Pliant Therapeutics' Chief Financial Officer, Keith Lamont Cummings, sold 24,002 shares of common stock to cover tax liabilities from vested restricted stock units.

Summary

• Keith Lamont Cummings, Chief Financial Officer of Pliant Therapeutics, Inc. (PLRX), reported a sale of common stock.
• The transaction involved the disposition of 24,002 shares of Common Stock.
• The sale occurred on January 20, 2026, at a weighted average price of $1.28 per share.
• The sale was nondiscretionary and executed under a Rule 10b5-1 plan.
• The purpose of the sale was to satisfy withholding tax liability related to the vesting of previously granted restricted stock units.
• The sale price ranged from $1.245 to $1.33 per share, inclusive, over the period of January 20-22, 2026.
• Following the transaction, Cummings beneficially owns 297,214 shares of Common Stock.
• This total includes 1,958 shares acquired through an Employee Stock Purchase Plan (ESPP).

Sentiment

Score: 5

Explanation: Neutral. This is a routine, pre-planned sale to cover tax obligations, not indicative of management's view on the company's future or a discretionary divestment.

Future Outlook

No forward-looking statements or guidance are provided in this insider transaction report.

Management Comments

• The reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the stated range upon request from Pliant Therapeutics, Inc., any security holder, or the SEC staff.

Industry Context

This is a routine insider transaction filing, common for executives across all industries, where shares are sold to cover tax obligations upon the vesting of equity awards. It does not provide insights into broader industry trends or competitive positioning.

Comparison to Industry Standards

• This is a standard Form 4 filing detailing a pre-planned, non-discretionary sale of shares by an executive to cover tax liabilities, a common practice in publicly traded companies. There are no specific industry benchmarks or comparable company results to assess against in this context, as it reflects a personal financial event rather than company performance.

Stakeholder Impact

• Shareholders: Minimal impact, as this is a routine, pre-planned tax-related sale by an executive and not a discretionary divestment.

Next Steps

• The reporting person has undertaken to provide Pliant Therapeutics, Inc., any security holder, 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 stated range.

Key Dates

Recommendation

The filing details a routine, non-discretionary sale of shares by the CFO to cover tax obligations associated with vested restricted stock units, executed under a Rule 10b5-1 plan. This type of transaction is common and does not typically reflect a change in management's outlook or a discretionary divestment. Therefore, it provides no new information to warrant a change in investment recommendation.

Keywords

PLIANT THERAPEUTICS, PLRX, Keith Lamont Cummings, CFO, Form 4, Insider Trading, Stock Sale, Restricted Stock Units, Tax Liability, 10b5-1 Plan, Employee Stock Purchase Plan