Cullinan CSO sells shares, exercises options
Cullinan Therapeutics Chief Scientific Officer Jennifer Michaelson reported an exercise-and-sell transaction in company stock.
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Form Type
4
Rhea-AI Filing Summary
Cullinan Therapeutics Chief Scientific Officer Jennifer Michaelson reported an exercise-and-sell transaction in company stock. She sold 8,000 shares of common stock in an open-market sale at a weighted average price of $17.82 per share, executed under a pre-arranged Rule 10b5-1 trading plan established on August 7, 2025. On the same date, she exercised stock options for 4,000 shares of common stock at an exercise price of $4.30 per share. After these transactions, she directly owned 162,844 shares of Cullinan Therapeutics common stock and held 112,987 stock options exercisable at $4.30 per share, which expire on October 28, 2030.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
3 txns
Insider
Michaelson Jennifer
Role
Chief Scientific Officer
Sold
8,000 shs ($143K)
Approx. gross sale proceeds
$143K
Approx. exercise cost
$17K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 4,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 4,000 | $4.30 | $17K |
| Sale | Common Stock | 8,000 | $17.82 | $143K |
Holdings After Transaction:
Stock Option (Right to Buy) — 112,987 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 $17.35 to $18.19. 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
Shares sold: 8,000 shares
Sale price: $17.82 per share
Options exercised: 4,000 shares
+4 more
7 metrics
Shares sold
8,000 shares
Common stock open-market sale on July 6, 2026 at $17.82
Sale price
$17.82 per share
Weighted average sale price for 8,000 shares
Options exercised
4,000 shares
Common stock obtained via option exercise on July 6, 2026
Exercise price
$4.30 per share
Stock option exercise price for 4,000 shares
Shares held after
162,844 shares
Common stock directly owned after transactions
Remaining options
112,987 options
Stock options outstanding after exercise at $4.30
Option expiration
October 28, 2030
Expiration date of the reported stock options
Key Terms
Rule 10b5-1, weighted average price, stock option, open-market sale, +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 financial
"Stock Option (Right to Buy)"
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.
open-market sale financial
"transaction_action":"open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
derivative security financial
"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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Cullinan Therapeutics (CGEM) report for Jennifer Michaelson?
Cullinan Therapeutics reported that Chief Scientific Officer Jennifer Michaelson sold 8,000 shares of common stock and exercised options for 4,000 shares. Both transactions occurred on July 6, 2026 as part of a disclosed trading pattern in the company’s stock.
What stock options did Jennifer Michaelson exercise in the Cullinan Therapeutics (CGEM) Form 4?
She exercised stock options covering 4,000 shares of Cullinan Therapeutics common stock at an exercise price of $4.30 per share. These options vested over time, with 25% vesting July 4, 2020 and the remainder in 36 equal monthly installments thereafter.
What Cullinan Therapeutics (CGEM) stock options remain for Jennifer Michaelson after the Form 4 transactions?
After exercising 4,000 options, Jennifer Michaelson holds 112,987 remaining stock options with an exercise price of $4.30 per share. These options are reported to expire on October 28, 2030, providing a long-dated potential source of additional common shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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