Cullinan CSO exercises 30K options, sells 30K shares
Sentiment and the balance of points
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Form Type
4
Rhea-AI Filing Summary
Cullinan Therapeutics Chief Scientific Officer Jennifer Michaelson exercised 30,000 stock options for Common Stock at an exercise price of $4.30 per share, then sold 30,000 Common Shares at a weighted average price of $20.26 per share pursuant to a Rule 10b5-1 trading plan adopted on August 7, 2025. The options exercised were from a grant that vested 25% on July 4, 2020, with the remainder vesting in 36 monthly installments, and she continues to hold 82,987 stock options of this series directly, expiring on October 28, 2030.
Insider Trade Summary 10b5-1
Exercise and Sale: 30,000 shares ($479K approx. pre-tax spread)
Exercise and Sale
3 txns
Insider
Michaelson Jennifer
Role
Chief Scientific Officer
Sold
30,000 shs ($608K)
Approx. gross sale proceeds
$608K
Approx. exercise cost
$129K
Approx. pre-tax spread
$479K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) F3 | 30,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 30,000 | $4.30 | $129K |
| Sale | Common Stock F1, F2 | 30,000 | $20.26 | $608K |
Holdings After Transaction:
Stock Option (Right to Buy) — 82,987 contracts (Direct);
Common Stock — 162,844 shares (Direct)
Footnotes (3)
- F1. Transaction effected pursuant to a plan established pursuant to Rule 10b5-1 on August 7, 2025.
- F2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $20.00 to $20.69. The Reporting Person undertakes to provide to the Issuer, any shareholder 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 within the range set forth in this footnote.
- F3. 25% of the shares vested on July 4, 2020, and the remaining shares vested in 36 equal monthly installments thereafter.
Key Figures
Options exercised: 30,000 shares
Exercise price: $4.30 per share
Shares sold: 30,000 shares
+5 more
8 metrics
Options exercised
30,000 shares
Stock Option (Right to Buy) for Common Stock exercised on August 13, 2026
Exercise price
$4.30 per share
Conversion or exercise price of stock options exercised for Common Stock
Shares sold
30,000 shares
Common Stock sale on August 13, 2026
Weighted average sale price
$20.26 per share
Weighted average price for 30,000 Common Shares sold, with trades from $20.00 to $20.69
Remaining options
82,987 options
Stock Option (Right to Buy) position directly held after the reported exercise
Option expiration date
October 28, 2030
Expiration date of the stock options exercised and remaining
10b5-1 plan adoption date
August 7, 2025
Date the Rule 10b5-1 trading plan governing the sale was established
Initial vesting date
July 4, 2020
25% of the option grant vested on this date; remainder in 36 monthly installments
Key Terms
Rule 10b5-1, weighted average price, Stock Option (Right to Buy), derivative security, +1 more
5 terms
Rule 10b5-1 regulatory
"Transaction effected pursuant to a plan established pursuant to Rule 10b5-1 on August 7, 2025."
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.
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.
Stock Option (Right to Buy) financial
"security_title: Stock Option (Right to Buy)"
derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
Common Stock financial
"underlying_security_title: Common Stock"
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Cullinan Therapeutics (CGEM) Chief Scientific Officer Jennifer Michaelson report in this Form 4?
Jennifer Michaelson reported exercising 30,000 stock options at $4.30 per share and selling 30,000 Common Shares at a weighted average price of $20.26 per share. These transactions occurred on August 13, 2026, and were made under a pre-established Rule 10b5-1 plan.
Were Jennifer Michaelson’s CGEM transactions under a Rule 10b5-1 trading plan?
Yes. A footnote states the sale was effected pursuant to a Rule 10b5-1 plan established on August 7, 2025. The filing’s Rule 10b5-1 checkbox is also marked, indicating the reported transactions were conducted under this pre-arranged trading plan.
What options did Michaelson exercise in Cullinan Therapeutics (CGEM) and how were they vested?
She exercised 30,000 stock options with an exercise price of $4.30 per share, expiring October 28, 2030. A footnote explains 25% vested on July 4, 2020, with the remaining shares vesting in 36 equal monthly installments thereafter.
How many Cullinan Therapeutics (CGEM) stock options does Michaelson still hold after these transactions?
Following the option exercise reported, she directly holds 82,987 stock options of this series. These options relate to Common Stock and carry an expiration date of October 28, 2030, indicating a remaining equity-based incentive position with the company.
AI-generated analysis. How Rhea-AI works. Not financial advice.
