[Form 4] C4 Therapeutics, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marriott International, Inc. (NASDAQ: MAR) filed an 8-K disclosing a planned leadership transition in its finance organization. Chief Financial Officer and Executive Vice President, Development, Kathleen K. Oberg notified the company on 11 July 2025 of her intent to retire. She will step down as CFO immediately after Marriott files its fiscal-2025 Form 10-K and will fully retire on 31 March 2026.

To ensure continuity, the Board has appointed Jennifer C. Mason (age 55) as Executive Vice President & Chief Financial Officer, effective on Ms. Oberg’s hand-over date. Mason is a 25-year Marriott veteran and currently serves as Global Officer, Treasurer & Risk Management (since May 2022). Her previous roles include CFO, U.S. & Canada (2016-2022) and senior positions in IT, sales, audit, and corporate FP&A. She holds a B.S. in Commerce (University of Virginia) and an MBA (Wharton).

The company furnished a press release (Exhibit 99.1) announcing the transition and other leadership moves; no financial statements or guidance updates were provided, and the disclosure is furnished, not incorporated by reference.

• Form type: 8-K, Items 5.02 (Officer changes) & 7.01 (Reg FD).
• No impact on previously issued financial statements.
• No change to trading symbol (MAR) or exchange listing (Nasdaq GS).

While the retirement of a long-standing CFO introduces succession risk, the internal promotion of a seasoned finance executive suggests operational stability and limited disruption to financial policy.

Positive

• Seamless succession plan: Appointment of long-time insider Jennifer C. Mason reduces transition risk and preserves institutional knowledge.
• Extended overlap period: Oberg remains until March 2026, allowing thorough knowledge transfer during FY-25 reporting cycle.

Negative

• Leadership transition risk: Departure of a seasoned CFO who also oversaw global development could introduce strategic uncertainty until successor fully assumes duties.
• No financial guidance provided: Investors receive no clarity on whether the transition affects capital allocation or long-term targets.

Insights

Corporate Governance Expert

TL;DR: Internal CFO succession limits governance risk; neutral financial impact.

The key governance issue in any CFO transition is continuity of oversight over reporting, controls, and capital allocation. Oberg’s notice comes nearly nine months before her retirement, giving the Audit Committee ample time for a structured hand-over through the Form 10-K cycle. Mason’s 25-year tenure, most recently as Treasurer, signals deep familiarity with Marriott’s balance sheet and risk framework. Because the successor is internal and already at EVP level, I do not expect material changes in accounting policies or investor-relations strategy. Consequently, credit agencies and large shareholders are unlikely to adjust ratings or positions strictly due to this announcement.

Portfolio Manager

TL;DR: Management change viewed as continuity move; stock impact minimal.

From an investor perspective, the departure of a respected CFO can be a red flag, but timing after FY-25 filing and multi-month overlap mitigate execution risk. Mason’s background in treasury and North American operations suggests she already drives key financing and cash-return decisions. Unless guidance changes, I see limited near-term valuation effect. I classify the news as operationally neutral, with a slight positive bias toward stability because the company avoids an external search and potential culture clash.

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^*

REYNO LEONARD

(Last) (First) (Middle)

C/O C4 THERAPEUTICS, INC.

490 ARSENAL WAY #120

(Street)

WATERTOWN MA 02472

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
C4 Therapeutics, Inc. [ CCCC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2025

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
Common Stock	07/10/2025		F(1)		7,382	D	$1.99	166,382	D

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

Explanation of Responses:

1. Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs") and does not represent a sale by the Reporting Person.

Remarks:

	/s/ Shagha Russell, Attorney-in-Fact	07/14/2025
	** 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

Why is Marriott (MAR) filing this 8-K?

To disclose CFO Kathleen Oberg’s planned retirement and the appointment of Jennifer Mason as her successor under Item 5.02.

When will Kathleen Oberg step down as CFO?

Immediately after Marriott files its fiscal-2025 Form 10-K (early 2026 timeframe).

Who is Jennifer C. Mason and when does she become CFO?

Mason is Marriott’s current Treasurer & Risk head; she will become CFO on the same date Oberg steps down.

Does the leadership change affect Marriott’s financial statements?

No. The 8-K states no restatements or revisions; the disclosure is informational only.

Is Marriott providing updated earnings guidance with this filing?

No new guidance or financial data was included in the 8-K.

Where can investors find more details on the transition?

See Exhibit 99.1, the press release dated 14 July 2025, furnished with the 8-K.