CGEM insider: 79,456-share option grant to director at $7.03

Rhea-AI Filing Summary

Cullinan Therapeutics director Andrew R. Allen was granted a stock option on 08/07/2025 to purchase 79,456 shares of the company's common stock at an exercise price of $7.03 per share. The option vests in three equal installments—one-third on each of the first, second and third anniversaries of the grant date—subject to continued service as a director, and the instrument expires on 08/07/2035.

The reported transaction shows the reporting person beneficially owning 79,456 shares following the award. The filing documents a routine director equity award that creates the right to acquire shares over time under standard vesting conditions.

Positive

• Grant size disclosed: Option to purchase 79,456 shares is explicitly reported.
• Clear exercise price: Exercise price is stated as $7.03 per share.
• Vesting schedule provided: Option vests one-third on each of the first three anniversaries, conditioned on continued service.
• Long expiration: Option expiration date is stated as 08/07/2035, providing a long exercise window.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director equity award; aligns long-term interests but is unlikely to materially affect company financials.

The Form 4 discloses a non-derivative grant in the form of a stock option for 79,456 shares at a $7.03 exercise price, vesting one-third annually and expiring 08/07/2035. Such grants are common for board compensation and aim to retain directors and align incentives with shareholders. The size of the award should be evaluated relative to total outstanding shares to assess dilution, but no such share count is provided in this filing.

Executive Compensation Analyst

TL;DR: Compensation award is structured with multi-year vesting and a long expiration, consistent with retention-focused pay.

The option's vesting schedule (one-third each year) and a ten-year-plus expiration are standard features to encourage continued service. The exercise price of $7.03 is explicit, and the filing shows the reporting person beneficially owns 79,456 shares post-transaction. Without company-wide equity figures or recent market price in this filing, the materiality to shareholders cannot be fully quantified here.

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^*

Allen Andrew R

(Last) (First) (Middle)

C/O CULLINAN THERAPEUTICS, INC.

ONE MAIN STREET, SUITE 1350

(Street)

CAMBRIDGE MA 02142

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Cullinan Therapeutics, Inc. [ CGEM ]

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)
08/07/2025

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)	$7.03	08/07/2025		A		79,456		(1)	08/07/2035	Common Stock	79,456	$0.00	79,456	D

Explanation of Responses:

1. The option represents a right to purchase a total of 79,456 shares of the Issuer's common stock, which shall vest as to one-third of the shares underlying the option on each of the first, second and third anniversaries of the grant date of the award, subject to the Reporting Person's continued service as a director on each such vesting date.

	/s/ Jacquelyn Sumer, Attorney-in-Fact	08/08/2025
	** 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 Cullinan Therapeutics (CGEM) director Andrew R. Allen receive on 08/07/2025?

He was granted a stock option to purchase 79,456 shares of common stock at an exercise price of $7.03 per share.

How does the option vest for the CGEM grant to Andrew R. Allen?

The option vests as to one-third of the shares on each of the first, second and third anniversaries of the grant date, subject to continued service.

When does the option awarded to the director expire?

The filing lists an expiration date of 08/07/2035 for the option.

How many shares does the reporting person beneficially own after the transaction?

The Form 4 reports 79,456 shares beneficially owned following the reported transaction.

Was the transaction reported on a Form 4 and what is the ticker?

Yes, the transaction is reported on a Form 4 for Cullinan Therapeutics, Inc. (CGEM), indicating an insider filing.