CARGO Therapeutics Insider Grant: 25K Stock Options Disclosed

Rhea-AI Filing Summary

CARGO Therapeutics, Inc. (CRGX) – Form 4 filing

The filing discloses that director Abraham Bassan received a stock-option grant for 25,000 shares of CRGX common stock on 18 June 2025. The option carries an exercise price of $4.35 and will expire on 17 June 2035.

Vesting is 100% on the earlier of (i) the one-year anniversary of the grant date or (ii) the next annual shareholders’ meeting, contingent upon continued service. No shares were sold or otherwise disposed of; Bassan’s beneficial ownership now includes the 25,000 unexercised options, recorded as directly held.

The transaction appears to be a routine equity incentive designed to align director interests with those of shareholders. There are no accompanying cash transactions, sales, or changes in ownership structure noted in this filing.

Positive

• Equity alignment: Director granted 25,000 options, enhancing alignment with shareholder interests.

Negative

• None.

Insights

Equity Compensation Analyst

TL;DR: Routine grant of 25k director options at $4.35; minimal immediate impact.

This Form 4 represents a standard non-derivative equity incentive. At the current option exercise price of $4.35, the award’s face value (ignoring volatility assumptions) is roughly $108k, a typical level for an early-stage biotech board seat. No shares were sold, so there is no cash inflow/outflow or dilution event today. The ten-year term and one-year cliff vesting are conventional, and the award aligns director incentives with long-term share performance. Given the modest size relative to float and no insider selling, the filing is neutral for valuation and slightly positive for governance alignment.

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^*

Bassan Abraham

(Last) (First) (Middle)

C/O CARGO THERAPEUTICS, INC.

835 INDUSTRIAL ROAD, SUITE 400

(Street)

SAN CARLOS CA 94070

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CARGO Therapeutics, Inc. [ CRGX ]

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)
06/18/2025

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)	$4.35	06/18/2025		A		25,000		(1)	06/17/2035	Common Stock	25,000	$0	25,000	D

Explanation of Responses:

1. 100% of the shares subject to the option shall vest on the earlier of (i) the one year anniversary of June 18, 2025 or (ii) the next Annual Meeting following June 18, 2025, subject to the Reporting Person's continued service to the Issuer.

	/s/ Halley Gilbert, as attorney-in-fact for Abraham Bassan	06/20/2025
	** 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 CRGX director Abraham Bassan report in the Form 4?

A grant of 25,000 stock options with a $4.35 exercise price on 18 June 2025.

Were any CRGX shares sold in this insider transaction?

No. The filing reports only an option grant; no shares were sold or disposed of.

When do the granted options to Bassan vest?

Vesting is 100% on the earlier of one year from 18 June 2025 or the next annual meeting.

What is the expiration date of the CRGX options granted?

The options expire on 17 June 2035 if unexercised.

How many CRGX derivative securities does Bassan own after the transaction?

He beneficially owns 25,000 stock options following the reported grant.