Donald Notman, the chief operating officer of Ocular Therapeutix, INC (NASDAQ:OCUL), reported a sale of 11,446 shares of the company's common stock on February 12, 2026, according to a Form 4 filed with the Securities and Exchange Commission. The shares moved at a weighted average price of $9.04, producing a total transaction value of $103,471.
The filing specifies that the individual sale prices ranged between $8.9950 and $9.0950 per share. After completing this disposition, Notman retains direct ownership of 366,356 shares of Ocular Therapeutix common stock.
Clinical and corporate developments reported by the company
Separately from the insider transaction, Ocular Therapeutix announced that its investigational therapy AXPAXLI met the primary endpoint in a Phase 3 superiority study for wet age-related macular degeneration. The trial result showed that 74.1% of patients maintained vision at Week 36, a finding described as a statistically significant improvement compared with the current standard of care, aflibercept.
Following these clinical results, RBC Capital has reiterated an Outperform rating on Ocular Therapeutix and kept a $30.00 price target, even as the company's shares have declined year to date.
On the leadership front, the company named Jason Robins as interim chief financial officer while Donald Notman is on temporary medical leave. Ocular Therapeutix also appointed David W. Robinson as Global Chief Commercial Officer, a role the company says will support the potential launch of AXPAXLI as the firm advances its New Drug Application timeline.
Ocular Therapeutix noted that work continues across multiple Phase 3 clinical programs for AXPAXLI, which target wet age-related macular degeneration and non-proliferative diabetic retinopathy.
Context and reporting limits
The information above is drawn from the company's public reporting and the SEC Form 4 filing. Where the company has provided details - including the precise share counts, price range, trial endpoint statistics, analyst rating and leadership appointments - those figures are reflected directly. The record does not contain additional commentary from company executives regarding the insider sale or the timing of the transaction relative to the clinical disclosure beyond the filed statements.