A Form 4 is filed within two business days of a company insider — an officer, a director, or a holder of more than ten percent of the stock — changing their position in the shares. All 6 filings in this group are Form 4s for Mustang Bio, Inc.
The difficulty with reading these filings as a group is that a single form type covers transactions that mean entirely different things. An executive spending their own money to buy stock and an executive having shares withheld to pay tax on a vesting grant both appear as a Form 4. Every filing below is therefore tagged with the nature of the underlying transaction, taken from the transaction code reported on the form itself.
Across the 6 insider filings shown, the breakdown is 2 compensation award, 2 open-market sale, 1 open-market purchase and 1 tax withholding. 3 of them involved a discretionary open-market trade; the rest are compensation and administrative mechanics.
What each transaction type means
- Compensation award ×2
- Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
- Open-market sale ×2
- The insider sold shares on the open market. Sales may be discretionary or executed automatically under a pre-arranged Rule 10b5-1 trading plan, and a Form 4 does not always make clear which applies.
- Open-market purchase ×1
- The insider bought shares on the open market with their own money. This is the only Form 4 category that requires a discretionary cash outlay at the prevailing price.
- Tax withholding ×1
- Shares were withheld by the company to settle tax due when equity vested. This is an automatic administrative step and not a decision to sell.
Form 4
Tax withholding
Tax / Compensation Filing
2026-04-27
MBIO insider Form 4 filed for equity award, exercise, or tax withholding
Litchman Manuel MD (Director, President, CEO and Interim CFO) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were withheld by the company to settle tax due when equity vested. This is an automatic administrative step and not a decision to sell.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
F |
Tax withholding on vested shares
|
19 |
$0.75 |
$14.25 |
Filing: Form 4 (Insider Transaction)
Insider: Litchman Manuel MD (Director, President, CEO and Interim CFO)
Shares: 19
Form 4
Compensation award
Tax / Compensation Filing
2026-01-05
MBIO insider Form 4 filed for equity award, exercise, or tax withholding
Fortress Biotech, Inc. (10% Owner) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
|
278,385 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: Fortress Biotech, Inc. (10% Owner)
Shares: 278,385
Form 4
Open-market sale
Insider Selling
2025-12-30
MBIO insider Herskowitz Neil (Director) sold 247 shares (~$237.61)
Herskowitz Neil, listed as Director at MUSTANG BIO, INC., reported an open-market sale of 247 MBIO shares in a Form 4 filing. This is a confirmed insider sale, not just a proposed sale notice.
The insider sold shares on the open market. Sales may be discretionary or executed automatically under a pre-arranged Rule 10b5-1 trading plan, and a Form 4 does not always make clear which applies.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
S |
Open-market sale
|
247 |
$0.96 |
$237.61 |
Filing: Form 4 (Insider Transaction)
Insider: Herskowitz Neil (Director)
Shares: 247
Est. Value: $237.61
Form 4
Open-market sale
Insider Selling
2025-12-30
MBIO insider Chill Adam J. (Director) sold 4 shares (~$3.82)
Chill Adam J., listed as Director at MUSTANG BIO, INC., reported an open-market sale of 4 MBIO shares in a Form 4 filing. This is a confirmed insider sale, not just a proposed sale notice.
The insider sold shares on the open market. Sales may be discretionary or executed automatically under a pre-arranged Rule 10b5-1 trading plan, and a Form 4 does not always make clear which applies.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
S |
Open-market sale
|
4 |
$0.95 |
$3.82 |
Filing: Form 4 (Insider Transaction)
Insider: Chill Adam J. (Director)
Shares: 4
Est. Value: $3.82
Form 4
Open-market purchase
Insider Buying
2025-12-30
MBIO insider Jin David (Director) bought 247 shares (~$237.61)
Jin David, listed as Director at MUSTANG BIO, INC., reported an open-market purchase of 247 MBIO shares in a Form 4 filing. Insider buying is often treated as a bullish signal because company insiders are committing their own capital.
The insider bought shares on the open market with their own money. This is the only Form 4 category that requires a discretionary cash outlay at the prevailing price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
P |
Open-market purchase
|
247 |
$0.96 |
$237.61 |
Filing: Form 4 (Insider Transaction)
Insider: Jin David (Director)
Shares: 247
Est. Value: $237.61
Form 4
Compensation award
Tax / Compensation Filing
2025-10-01
MBIO insider Form 4 filed for equity award, exercise, or tax withholding
Fortress Biotech, Inc. (10% Owner) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
|
59,334 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: Fortress Biotech, Inc. (10% Owner)
Shares: 59,334