Fairmount-linked director awarded 11,050 CBIO options at $17.01 exercise price

Rhea-AI Filing Summary

CRESCENT BIOPHARMA, INC. reported an insider equity award involving investment entities affiliated with Fairmount Funds. A stock option for 11,050 ordinary shares was granted at an exercise price of $17.0100 per share, expiring on June 2, 2036.

The option was awarded to Peter Harwin, who holds it for one or more investment vehicles managed by Fairmount Funds Management LLC. It vests in full on the earlier of June 2, 2027 or the company’s next annual shareholder meeting, subject to his continued service. Fairmount, Harwin, and Tomas Kiselak state they disclaim beneficial ownership beyond any pecuniary interest.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Fairmount Funds Management LLC, Fairmount Healthcare Fund II L.P., Harwin Peter Evan, Kiselak Tomas

Role null | null | null | null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	11,050	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 11,050 shares (Indirect, By: Peter Harwin)

Footnotes (1)

1. This option represents a right to purchase 11,050 of the Issuer's ordinary shares and vests in full on the earlier of (i) June 2, 2027 or (ii) the date of the Issuer's next annual meeting of shareholders, in each case, subject to the Reporting Person's continued service to the Issuer. Fairmount Funds Management LLC ("Fairmount") is the investment manager for Fairmount Healthcare Fund II LP ("Fund II"). Peter Harwin and Tomas Kiselak are the managers of Fairmount. Under Mr. Harwin's arrangement with Fairmount, Mr. Harwin holds the option for one or more investment vehicles managed by Fairmount (each, a "Fairmount Fund"). Mr. Harwin is obligated to turn over to Fairmount any net cash or stock received from the option for the benefit of such Fairmount Fund. Fairmount, Mr. Harwin, and Mr. Kiselak disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.

Key Figures

Option grant size: 11,050 options Exercise price: $17.0100 per share Expiration date: June 2, 2036 +2 more

5 metrics

Option grant size 11,050 options Stock Option covering 11,050 ordinary shares

Exercise price $17.0100 per share Conversion or exercise price for the option

Expiration date June 2, 2036 Option expiration date

Post-transaction derivative holdings 11,050 options Total derivative securities following transaction

Vesting latest date June 2, 2027 Vests by earlier of June 2, 2027 or next annual meeting

Key Terms

Stock Option, beneficial ownership, pecuniary interest, investment manager

4 terms

Stock Option financial

"This option represents a right to purchase 11,050 of the Issuer's ordinary shares"

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

beneficial ownership financial

"Fairmount, Mr. Harwin, and Mr. Kiselak disclaim beneficial ownership of any of the reported securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein"

investment manager financial

"Fairmount Funds Management LLC ("Fairmount") is the investment manager for Fairmount Healthcare Fund II LP"

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Form 4 Insider Transactions: What Each Field Means →

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
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).

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^*

Fairmount Funds Management LLC

(Last) (First) (Middle)

200 BARR HARBOR DRIVE, SUITE 400

(Street)

WEST CONSHOHOCKEN PENNSYLVANIA 19428

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/02/2026

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

	Form filed by One Reporting Person
X	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)
			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)	$17.01	06/02/2026		A		11,050		(1)	06/02/2036	Ordinary Shares	11,050	$0	11,050	I(2)	By: Peter Harwin

1. Name and Address of Reporting Person^*

Fairmount Funds Management LLC

(Last) (First) (Middle)

200 BARR HARBOR DRIVE, SUITE 400

(Street)

WEST CONSHOHOCKEN PENNSYLVANIA 19428

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Fairmount Healthcare Fund II L.P.

(Last) (First) (Middle)

200 BARR HARBOR DRIVE, SUITE 400

(Street)

WEST CONSHOHOCKEN PENNSYLVANIA 19428

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Harwin Peter Evan

(Last) (First) (Middle)

200 BARR HARBOR DRIVE, SUITE 400

(Street)

WEST CONSHOHOCKEN PENNSYLVANIA 19428

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Kiselak Tomas

(Last) (First) (Middle)

200 BARR HARBOR DRIVE, SUITE 400

(Street)

WEST CONSHOHOCKEN PENNSYLVANIA 19428

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. This option represents a right to purchase 11,050 of the Issuer's ordinary shares and vests in full on the earlier of (i) June 2, 2027 or (ii) the date of the Issuer's next annual meeting of shareholders, in each case, subject to the Reporting Person's continued service to the Issuer.

2. Fairmount Funds Management LLC ("Fairmount") is the investment manager for Fairmount Healthcare Fund II LP ("Fund II"). Peter Harwin and Tomas Kiselak are the managers of Fairmount. Under Mr. Harwin's arrangement with Fairmount, Mr. Harwin holds the option for one or more investment vehicles managed by Fairmount (each, a "Fairmount Fund"). Mr. Harwin is obligated to turn over to Fairmount any net cash or stock received from the option for the benefit of such Fairmount Fund. Fairmount, Mr. Harwin, and Mr. Kiselak disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.

Remarks:

Fairmount and Fund II may each be deemed a director by deputization of the Issuer by virtue of the fact that Peter Harwin serves on the board of directors of the Issuer and is a manager of Fairmount.

	/s/ Tomas Kiselak, Managing Member of Fairmount Funds Management LLC	06/03/2026
	/s/ Tomas Kiselak, Managing Member of Fairmount Healthcare Fund II L.P.	06/03/2026
	/s/ Tomas Kiselak	06/03/2026
	/s/ Peter Harwin	06/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did CRESCENT BIOPHARMA (CBIO) report on this Form 4?

CRESCENT BIOPHARMA reported a stock option grant for 11,050 ordinary shares. The option was awarded to Peter Harwin for investment vehicles managed by Fairmount Funds, reflecting an equity-based compensation award rather than an open-market share purchase or sale.

What are the key terms of the CBIO stock option granted to the Fairmount-related entity?

The option covers 11,050 ordinary shares at an exercise price of $17.0100 per share. It expires on June 2, 2036 and vests in full on the earlier of June 2, 2027 or the next annual shareholder meeting, subject to continued service.

How and when does the new CBIO option award vest?

The option vests in full on the earlier of June 2, 2027 or the date of CRESCENT BIOPHARMA’s next annual meeting of shareholders. Vesting is conditioned on the reporting person’s continued service to the issuer through that vesting date trigger.

Who effectively benefits from the CBIO option grant reported for Fairmount entities?

Under the disclosed arrangement, Peter Harwin holds the option for one or more Fairmount-managed investment vehicles. He must turn over any net cash or stock from the option to Fairmount for the benefit of the relevant Fairmount fund, reflecting indirect, fund-related economic exposure.

Do Fairmount Funds and its managers claim full beneficial ownership of the CBIO option?

Fairmount Funds Management, Peter Harwin, and Tomas Kiselak expressly disclaim beneficial ownership of the reported securities, except to the extent of their pecuniary interest. This means they recognize only their economic stake, not full beneficial ownership of all underlying shares.

How many CBIO derivative securities does the Fairmount-related reporting person hold after this grant?

Following this transaction, the reporting person is shown holding 11,050 derivative securities in the form of stock options. These options each represent the right to purchase one ordinary share of CRESCENT BIOPHARMA, subject to vesting and the stated exercise price and expiration terms.