Cue Biopharma (NASDAQ: CUE) PSU vesting drives tax share sales
Rhea-AI Filing Summary
Cue Biopharma, Inc. officer Sumita Ray reported a derivative PSU exercise and related share sales on August 13, 2026. A block of 18,196 common shares was issued upon settlement of performance stock units, while a matched 18,196 underlying derivative position was exercised and disposed.
To fund tax withholding from this vesting, Ray reported sell-to-cover transactions totaling 8,829 shares, including 2,383 shares at a weighted average price of $29.37 (range $28.97–$29.96), 6,442 shares at a weighted average price of $30.35 (range $29.99–$30.97), and 4 shares at $31.13. The PSUs vest in three equal tranches tied to stock-price targets of $33.00, $38.50, and $44.00 achieved over five consecutive trading days within 24 months of grant; one-third settled on August 13, 2026, with the remaining two-thirds expected to settle upon achievement of the higher targets.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
5 txns
Insider
Ray Sumita
Role
Chief Legal Compliance Officer
Sold
8,829 shs ($266K)
Approx. gross sale proceeds
$266K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Common Stock F4 | 18,196 | $0.00 | $0.00 |
| Exercise | Common Stock | 18,196 | $0.00 | $0.00 |
| Sale | Common Stock F1, F2 | 2,383 | $29.37 | $70K |
| Sale | Common Stock F1, F3 | 6,442 | $30.35 | $196K |
| Sale | Common Stock F1 | 4 | $31.13 | $124.52 |
Holdings After Transaction:
Common Stock — 154,938 shares (Direct)
Footnotes (4)
- F1. The sales reported represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units. The sales were to satisfy tax withholding obligations to be funded by a "sell-to-cover" transaction and do not represent discretionary transactions by the reporting person.
- F2. The price reported in this line item is a weighted average price. These shares were sold as part of block trades for multiple security holders of the Issuer at prices ranging from $28.97 to $29.96, inclusive. The Reporting Person undertakes to provide to the Issuer, any securityholder 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 herein to the block trades.
- F3. The price reported in this line item is a weighted average price. These shares were sold as part of block trades for multiple security holders of the Issuer at prices ranging from $29.99 to $30.97, inclusive. The Reporting Person undertakes to provide to the Issuer, any securityholder 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 herein to the block trades.
- F4. The performance stock units ("PSU") were awarded subject to certain stock-price based vesting conditions with vesting comprised of three substantially equal tranches that are eligible to vest based the achievement of a closing price per share of $33.00, $38.50 and $44.00, in each case for a period of five consecutive trading days. If the stock price targets are not satisfied by the period ending 24 months from the date of grant, the PSUs shall automatically be forfeited and cancelled without consideration. The award settled with respect to 1/3 of the PSUs underlying the award on August 13, 2026. The remaining 2/3 of the PSUs underlying the award are expected to settle on the achievement of a closing price per share of $38.50 and $44.00, in each case for a period of five consecutive trading days.
Key Figures
PSUs settled into shares: 18,196 shares
Shares sold to cover taxes: 8,829 shares
Weighted average sale price block 1: $29.37 per share
+5 more
8 metrics
PSUs settled into shares
18,196 shares
Common shares issued upon settlement of performance stock units on August 13, 2026
Shares sold to cover taxes
8,829 shares
Total common shares sold in sell-to-cover transactions on August 13, 2026
Weighted average sale price block 1
$29.37 per share
2,383 shares sold at weighted average price, range $28.97–$29.96
Weighted average sale price block 2
$30.35 per share
6,442 shares sold at weighted average price, range $29.99–$30.97
Sale price small lot
$31.13 per share
4 shares sold at $31.13
First PSU vesting price target
$33.00 per share
Stock-price condition for first PSU tranche, five consecutive trading days
Second PSU vesting price target
$38.50 per share
Stock-price condition for second PSU tranche, five consecutive trading days
Third PSU vesting price target
$44.00 per share
Stock-price condition for third PSU tranche, five consecutive trading days
Key Terms
performance stock units ("PSU"), sell-to-cover, weighted average price
3 terms
performance stock units ("PSU") financial
"The performance stock units ("PSU") were awarded subject to certain stock-price"
sell-to-cover financial
"to be funded by a "sell-to-cover" transaction and do not represent"
Sell-to-cover is when part of newly issued or exercised company stock is immediately sold to pay required taxes and fees, so the recipient keeps the remaining shares. For investors this matters because it reduces the number of shares insiders or employees actually hold after a grant, can create small, routine share sales that aren’t signal of cashing out, and slightly increases share supply on the market—like selling a portion of a paycheck to cover the tax bill.
weighted average price financial
"The price reported in this line item 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.
FAQ
What did CUE officer Sumita Ray report on this Form 4 for August 13, 2026?
Sumita Ray reported exercise and settlement of 18,196 performance stock units into common stock and related sell-to-cover sales of 8,829 shares of Cue Biopharma, Inc. common stock to cover tax withholding obligations.
What performance conditions apply to the PSUs reported by Sumita Ray at CUE?
The PSUs vest in three equal tranches based on CUE’s stock closing at $33.00, $38.50, and $44.00 for five consecutive trading days. If the targets are not met within 24 months of grant, the unvested PSUs are forfeited.
How many Cue Biopharma (CUE) PSUs settled for Sumita Ray on August 13, 2026?
One-third of Ray’s PSU award settled, corresponding to 18,196 common shares. Footnotes explain this tranche settled on August 13, 2026, with remaining two-thirds expected upon reaching higher stock-price targets.
Were Sumita Ray’s CUE stock sales under a discretionary plan?
Footnotes state the sales were solely to cover tax withholding obligations via a sell-to-cover arrangement in connection with PSU vesting and do not represent discretionary transactions by the reporting person.
AI-generated analysis. How Rhea-AI works. Not financial advice.
