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  4. [Form 4] CRESCENT BIOPHARMA, INC. Insider Trading Activity

Crescent Biopharma (CBIO) insider sale covers taxes on RSU vesting

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

CRESCENT BIOPHARMA, INC. officer Barbara Harlin Bispham reported an automatic sale of 1,218 Ordinary Shares on June 22, 2026 to cover taxes from restricted stock units vesting. The weighted average sale price was $17.99 per share, with individual trades ranging from $16.88 to $18.86. These transactions were executed under a pre-arranged Rule 10b5-1 instruction solely to satisfy tax withholding obligations. After the sale, she directly holds 19,330 Ordinary Shares.

Positive

  • None.

Negative

  • None.

Insights

Routine, pre-planned tax sale tied to RSU vesting; limited signal value.

The filing shows Barbara Harlin Bispham sold 1,218 Ordinary Shares at a weighted average of $17.99 per share. The footnotes state the shares were automatically sold to satisfy tax withholding on restricted stock units that settled from a grant dated December 15, 2025.

The sales were executed pursuant to a pre-arranged Rule 10b5-1 instruction adopted on February 25, 2026, indicating they were scheduled in advance rather than discretionary market timing. After these transactions, she directly owns 19,330 Ordinary Shares, so the sale represents a relatively small portion of her reported holdings.

Insider Bispham Barbara Harlin
Role See Remarks
Sold 1,218 shs ($22K)
Type Security Shares Price Value
Sale Ordinary Shares 1,218 $17.99 $22K
Holdings After Transaction: Ordinary Shares — 19,330 shares (Direct, null)
Footnotes (1)
  1. Represents shares automatically sold by the Reporting Person to satisfy tax withholding obligations in connection with the settlement of restricted stock units granted to the Reporting Person on December 15, 2025. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 instruction adopted by the Reporting Person on February 25, 2026, solely with the intent to cover taxes in connection with the vesting of the restricted stock units. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.88 to $18.86, 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 at which the transactions were effected.
Shares sold 1,218 shares Ordinary Shares sold on June 22, 2026
Weighted average sale price $17.99 per share Open-market sale to cover tax withholding
Post-transaction holdings 19,330 shares Directly owned Ordinary Shares after sale
Price range of trades $16.88–$18.86 per share Multiple transactions within this price range
Rule 10b5-1 plan date February 25, 2026 Instruction adopted for tax-related sales
RSU grant date December 15, 2025 Restricted stock units whose vesting triggered sale
Rule 10b5-1 regulatory
"The sales were effected pursuant to a Rule 10b5-1 instruction adopted by the Reporting Person"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
restricted stock units financial
"in connection with the settlement of restricted stock units granted to the Reporting Person"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"shares automatically sold by the Reporting Person to satisfy tax withholding obligations"
weighted average price financial
"The price reported in Column 4 is a weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
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*
Bispham Barbara Harlin
(Last)(First)(Middle)
C/O CRESCENT BIOPHARMA, INC.
300 FIFTH AVENUE
(Street)
WALTHAM MASSACHUSETTS 02451
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
CRESCENT BIOPHARMA, INC. [ CBIO ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
See Remarks
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/22/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Ordinary Shares06/22/2026S1,218(1)D$17.99(2)19,330D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Represents shares automatically sold by the Reporting Person to satisfy tax withholding obligations in connection with the settlement of restricted stock units granted to the Reporting Person on December 15, 2025. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 instruction adopted by the Reporting Person on February 25, 2026, solely with the intent to cover taxes in connection with the vesting of the restricted stock units.
2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.88 to $18.86, 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 at which the transactions were effected.
Remarks:
General Counsel and Corporate Secretary.
/s/ Barbara Bispham06/23/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Crescent Biopharma (CBIO) insider Barbara Harlin Bispham report in this Form 4?

She reported an automatic sale of 1,218 Ordinary Shares to cover tax withholding obligations from restricted stock units vesting. The weighted average sale price was $17.99 per share, and she now directly holds 19,330 Ordinary Shares after the transaction.

Was the Crescent Biopharma (CBIO) insider share sale a discretionary trade?

No. The filing states the 1,218 shares were automatically sold under a pre-arranged Rule 10b5-1 instruction. The stated purpose was solely to satisfy tax withholding obligations related to the vesting and settlement of previously granted restricted stock units.

At what prices did Crescent Biopharma (CBIO) shares sell in this insider transaction?

The reported weighted average sale price was $17.99 per share. Footnotes explain that multiple trades occurred in a price range from $16.88 to $18.86, and detailed trade-level pricing is available from the reporting person upon request.

How many Crescent Biopharma (CBIO) shares does the insider own after the reported sale?

Following the tax-related sale, Barbara Harlin Bispham directly owns 19,330 Ordinary Shares of Crescent Biopharma. The reported 1,218 shares sold for tax withholding represent only a portion of her disclosed direct equity position in the company.

Why were Crescent Biopharma (CBIO) shares sold in connection with restricted stock units?

The filing notes the sale was to satisfy tax withholding obligations when restricted stock units granted on December 15, 2025 settled. Companies often withhold shares and sell them to cover income taxes owed when stock-based awards vest.