Form 4: Xeris Biopharma Executive Sells Shares Under 10b5-1 Plan

Kevin McCulloch, COO of Xeris Biopharma Holdings, Inc., reported the sale of 90,000 common shares under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Kevin McCulloch, President and Chief Operating Officer of Xeris Biopharma Holdings, Inc., executed a transaction on July 1, 2026.
• This transaction involved the sale of 90,000 shares of common stock at a weighted average price of $8.0279 per share.
• The sale was conducted under a Rule 10b5-1 trading plan established on September 4, 2025, which is designed to comply with affirmative defense conditions.
• Following this transaction, McCulloch beneficially owns 1,691,126 shares of common stock.
• Additionally, 25,000 shares are held indirectly by his spouse, for which he disclaims beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this filing as neutral to slightly negative due to the executive's sale of shares, despite the transaction being conducted under a pre-approved plan.

Negatives

• Sale of a significant number of shares (90,000) by a key executive.

Risks

• Potential negative perception from the market regarding insider selling, even if conducted under a pre-planned 10b5-1 strategy.

Future Outlook

No specific future outlook or guidance is provided in this Form 4 filing.

Management Comments

• The transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person as of September 4, 2025.
• The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.000 to $8.10, inclusive.
• The reporting person undertakes to provide to 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 range.
• Includes 3,401 shares acquired on June 30, 2026 under the issuer's 2018 Employee Stock Purchase Plan, as amended.
• The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

Industry Context

StockSavvy.ai notes that the use of Rule 10b5-1 plans by executives is a common practice to sell shares in a pre-determined manner, mitigating concerns about insider trading. However, significant sales can still be interpreted negatively by the market.

Stakeholder Impact

• Shareholders may view the sale of shares by a key executive with caution, potentially impacting short-term stock sentiment.
• Employees may be concerned about the executive's confidence in the company's future, although the sale is under a 10b5-1 plan.

Key Dates

Recommendation

The filing reports a sale of shares by a key executive under a Rule 10b5-1 plan. While this is a standard practice to avoid insider trading allegations, significant insider selling can be a signal of reduced confidence or a need for personal liquidity. Without further context on the company's performance or the executive's reasons, a 'hold' recommendation is prudent, suggesting investors monitor future filings and company performance closely.

Keywords

Form 4, Insider Trading, Rule 10b5-1, Xeris Biopharma Holdings, XERS, Stock Sale, Executive Compensation, Beneficial Ownership