Boundless Bio (BOLD) Files Form 4 for Director Option Grant of 16k Shares

Rhea-AI Filing Summary

Boundless Bio, Inc. (NASDAQ: BOLD) filed a Form 4 disclosing that director James Christensen received a new stock-option grant on 06/23/2025. The award covers 16,000 options with an exercise price of $1.03 per common share and an expiration date of 06/22/2035. The option vests in substantially equal monthly installments over the 12 months following the grant date. Any unvested portion will accelerate and vest on the date of the company’s next annual shareholder meeting if that meeting occurs before 06/23/2026, provided the director remains on the board.

The filing shows that these options represent the entirety of Christensen’s reported derivative holdings after the transaction; no open-market purchases, sales, or other equity awards were reported. Ownership is listed as direct, indicating the director personally holds the options rather than through a trust or other entity. No non-derivative (common-stock) transactions were disclosed.

Because the filing reports a routine board compensation grant rather than a discretionary insider purchase or sale, it is typically regarded as a neutral governance event for valuation purposes. There is no accompanying financial guidance, earnings data, or indication of broader corporate actions.

Insights

Corporate Governance Expert

TL;DR: Routine director option grant; aligns incentives but immaterial to valuation.

The Form 4 reflects standard annual equity compensation for an outside director. The 16,000-share option represents a modest potential ownership stake and has a 10-year term, typical for U.S. biotech boards. Vesting on a monthly schedule or at the next AGM promotes retention while avoiding large single-day cliffs. Because the exercise price is fixed at $1.03, the award is out-of-the-money or in-the-money depending on prevailing market price, but the filing provides no price context. There is no cash transaction, dilution impact is de-minimis, and no insider sales signal was given. From a governance perspective, the grant indicates continued board engagement and incentive alignment but does not materially alter share supply or insider sentiment.

Portfolio Manager

TL;DR: Neutral—small, scheduled option grant; no buy/sell signal.

Investors typically monitor Form 4s for unexpected insider buying or selling. This disclosure is merely a compensatory option grant to a non-executive director. The 16,000 options equate to a negligible fraction of BOLD’s shares outstanding, so dilution risk is insignificant. No cash outlay or sale occurred, and therefore the filing does not convey incremental information about management’s near-term expectations. I view the transaction as administratively routine with no influence on my position sizing or valuation model.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Christensen James

(Last) (First) (Middle)

C/O BOUNDLESS BIO, INC.

10955 ALEXANDRIA WAY, SUITE 100

(Street)

SAN DIEGO CA 92121

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Boundless Bio, Inc. [ BOLD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$1.03	06/23/2025		A		16,000		(1)	06/22/2035	Common Stock	16,000	$0	16,000	D

Explanation of Responses:

1. The stock option shall vest in substantially equal monthly installments over the 12 months following June 23, 2025 (or, in the event the next annual meeting of the issuer's stockholders occurs prior to June 23, 2026, any remaining unvested portion of the stock option will vest on the date of such annual meeting), subject to the reporting person's continuing service on the issuer's board of directors through such vesting date.

	/s/ Jessica Oien, Attorney-in-Fact for James Christensen	06/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Boundless Bio (BOLD) disclose in the latest Form 4?

The company reported a grant of 16,000 stock options to director James Christensen at an exercise price of $1.03.

Is the Form 4 transaction an insider purchase or sale of common stock?

No. It is a compensatory stock-option grant; no common shares were bought or sold.

When do the options granted to James Christensen vest?

They vest in equal monthly installments over 12 months starting 06/23/2025, or fully at the next annual meeting if earlier.

What is the expiration date of the newly granted options?

The options expire on 06/22/2035.

How many derivative securities does the director own after this grant?

After the transaction, Christensen beneficially owns 16,000 stock options and no other derivative securities were reported.