Iambic Therapeutics CEO reports 1.28M common shares
The chief executive officer’s reported position includes option rights and PSUs tied to specified milestones; the PSUs’ liquidity-event condition was satisfied.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
3
Rhea-AI Filing Summary
Iambic Therapeutics, Inc. (IAM) reports direct holdings by its Chief Executive Officer and director, Thomas F. Miller: 1,278,556 common shares and 317,394 performance share units. It also lists employee stock options with rights to buy 58,204 and 137,697 shares at $6.47 per share, expiring August 7, 2034, and 136,026 shares at $8.73 per share, expiring March 3, 2036. The PSUs vest upon specified milestones and a liquidity event; the liquidity event was satisfied October 14, 2026, the effective date of the issuer’s initial public offering.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Miller Thomas F.
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Employee Stock Option (right to buy) F2 | -- | -- | -- |
| holding | Employee Stock Option (right to buy) F3 | -- | -- | -- |
| holding | Employee Stock Option (right to buy) F4 | -- | -- | -- |
| holding | Performance Share Units F7, F5, F6 | -- | -- | -- |
| holding | Common Stock F1 | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 331,927 contracts (Direct);
Performance Share Units — 317,394 contracts (Direct);
Common Stock — 1,278,556 shares (Direct)
Footnotes (7)
- F1. Of the reported shares, 4,071 were issued pursuant to an early exercise provision and which vest in full on March 1, 2027.
- F2. An option to purchase 137,696 shares was granted on May 16, 2023 and was exercised in part prior to the date on which the reporting person became subject to Section 16. The shares subject to the option vest in 48 equal monthly installments beginning on July 1, 2023.
- F3. The option is subject to certain performance metrics. Prior to the date on which the reporting person became subject to Section 16, 50% of the shares subject to the option vested. The remaining 50% vest upon the Issuer's submission to the FDA of an IND application relating to cyclin-dependent kinase, as determined by the administrator of the Issuer's 2020 Equity Incentive Plan in accordance with the terms of the award.
- F4. The shares subject to the option vest in 48 equal monthly installments beginning on March 23, 2026.
- F5. The performance-based restricted stock units, or PSUs, vest upon the satisfaction of certain milestones and a liquidity event. The milestone requirement will be satisfied upon the earlier of (i) (a) the first dosing of a subject in a human clinical trial for the Issuer's product targeting HER2 ("HER2 Product"), together with prior data and information concerning such product, would be sufficient to support the filing of a Marketing Authorization Application in the U.S. or (b) a foreign clinical trial that is equivalent to clause (a), including any clinical trial indicated to be a Phase 3 trial, (ii) entering into a partnering transaction in which the Issuer grants to a non-affiliate third party exclusive rights to commercialize (or any co-commercialization rights in) a HER2 Product in the U.S. and/or European Union, or (iii) a change in control. The liquidity event was satisfied on October 14, 2026, the effective date of the Issuer's initial public offering of common stock.
- F6. The event deadline is March 3, 2033.
- F7. Each PSU represents a contingent right to receive one share of Issuer common stock.
Key Figures
Direct common shares: 1,278,556 shares
Performance share units: 317,394 units
Shares underlying employee stock options: 58,204 shares
+2 more
5 metrics
Direct common shares
1,278,556 shares
Reported direct common-stock position.
Performance share units
317,394 units
Each PSU represents a contingent right to receive one share of common stock.
Shares underlying employee stock options
58,204 shares
Exercise price $6.47 per share; expiration August 7, 2034.
Shares underlying employee stock options
137,697 shares
Exercise price $6.47 per share; expiration August 7, 2034.
Shares underlying employee stock options
136,026 shares
Exercise price $8.73 per share; expiration March 3, 2036.
Key Terms
Performance-based restricted stock units, liquidity event, Marketing Authorization Application, IND application
4 terms
Performance-based restricted stock units financial
"The performance-based restricted stock units, or PSUs"
Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.
liquidity event financial
"The liquidity event was satisfied on October 14, 2026"
A liquidity event is a transaction that converts ownership in a privately held or illiquid asset into cash or a marketable security, such as a sale, merger, public stock offering, or buyout. It matters to investors because it provides a clear way to realize returns or recover capital—think of it as turning a house into a cash sale—so the timing, price and structure of the event determine how much money stakeholders actually receive.
Marketing Authorization Application regulatory
"sufficient to support the filing of a Marketing Authorization Application"
A marketing authorization application is a formal request submitted to a government regulator asking permission to sell a prescription medicine or medical product in a country or region. Think of it like asking for a business license after showing evidence the product is safe and works; investors care because approval determines whether the product can generate sales, how soon revenue starts, and how much regulatory risk and uncertainty remains.
IND application medical
"submission to the FDA of an IND application"
An Investigational New Drug (IND) application is a formal request to regulators to allow a drug or biologic to be tested in people. It bundles lab and animal safety data, manufacturing details, and a plan for human trials—think of it like a building permit that lets developers move from design to construction. For investors, IND approval is a key milestone that permits clinical testing, reduces regulatory uncertainty, and can materially affect a company’s timeline, risk profile, and valuation.
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