Protagonist Therapeutics, Inc. reported an insider transaction by William D. Waddill involving the company’s common stock on June 23, 2026. The Form 4, filed June 25, shows that Waddill acquired 9,000 shares at $16.54 per share, consistent with an exercise of stock options, and separately sold 16,825 shares at a weighted average price of $117.94 per share. The stock-option portion of the filing notes that the options were fully vested. At the stated exercise price, the 9,000-share acquisition represented an exercise cost of about $148,860. The filing text does not provide the remaining option balance or Waddill’s beneficial ownership after the reported transactions. The sale of 16,825 shares generated estimated gross proceeds of approximately $1.98 million before commissions, taxes, and other expenses. The reported $117.94 price was a weighted average because the shares were sold in multiple transactions at prices ranging from $117.00 to $119.07. The filing states that Waddill will provide detailed price-by-price sale information upon request by SEC staff, Protagonist Therapeutics, or a company security holder. The filing also states that the transactions were made pursuant to a Rule 10b5-1 trading plan adopted by Waddill on February 27, 2026. Such plans allow insiders to schedule trades in advance under predetermined instructions, which can help reduce concerns that a trade was based on material nonpublic information. The provided filing text does not show the transaction-code fields, though the reported activity reflects an option exercise and a stock sale. The document was signed on Waddill’s behalf by Matthew Gosling, attorney-in-fact, on June 25, 2026.