Form 4: Pulmonx CEO Sells Shares for RSU Tax Obligations

Pulmonx Corp's President and CEO, Glendon E. French III, sold shares to cover tax withholding obligations related to vested Restricted Stock Units.

Summary

• Glendon E. French III, President and CEO, and Director of Pulmonx Corp, reported transactions involving the company's common stock.
• On March 2, 2026, French sold a total of 67,813 shares of Pulmonx Common Stock at a price of $1.43 per share.
• These sales were executed to cover tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs) granted on March 1, 2022, and March 1, 2023.
• French also received a grant of RSUs on December 1, 2025, which will vest in equal quarterly installments over a three-year period.
• Following these transactions, French directly beneficially owns 1,409,511 shares of Common Stock and indirectly owns 742,998 shares through a family trust.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event. While it involves an insider selling shares, the sales are explicitly for tax withholding related to RSU vesting, which is a common and expected occurrence, and the underlying RSU vesting and new grant are positive for executive alignment.

Positives

• The underlying reason for the sales was the vesting of Restricted Stock Units, indicating that previously granted equity compensation has matured for the executive.
• A new grant of Restricted Stock Units was made on December 1, 2025, aligning management's interests with long-term shareholder value.

Negatives

• The President and CEO reduced direct beneficial ownership by 67,813 shares through sales, even if for tax purposes.

Future Outlook

The filing indicates future vesting of Restricted Stock Units granted on December 1, 2025, which will occur in equal quarterly installments over a three-year period.

Industry Context

StockSavvy.ai notes that sales of shares by executives to cover tax withholding obligations upon the vesting of Restricted Stock Units are a routine and common occurrence in executive compensation plans across various industries. These transactions are typically pre-arranged under Rule 10b5-1 plans to avoid accusations of trading on inside information.

Related Party Transactions

• 742,998 shares are held indirectly by the Glendon E French & Gayle French Trustees French Family Rev Trust UA DTD 08/29/2012, of which the reporting person and his spouse are trustees and beneficiaries.

Stakeholder Impact

• Shareholders: A minor reduction in direct insider ownership, but the underlying RSU vesting and new grant demonstrate continued executive alignment with long-term company performance.

Next Steps

• Continued vesting of Restricted Stock Units granted on December 1, 2025, over the next three years.

Key Dates

Recommendation

This Form 4 reports routine insider sales for tax purposes related to RSU vesting, which is a common and expected event. It does not provide new information about the company's operational performance, strategic direction, or financial health that would warrant a change in investment recommendation based solely on this filing. Investors should consider broader company fundamentals and market conditions.

Keywords

Pulmonx, LUNG, Form 4, insider transaction, stock sale, RSU, executive compensation, Glendon E. French III, beneficial ownership, tax withholding