[Form 4] IGM Biosciences, Inc. Insider Trading Activity

Rhea-AI Filing Summary

On 06/30/2025, Quest Resource Holding Corp. (QRHC) director Sarah Tomolonius reported the acquisition of 1,732 deferred stock units (DSUs) at an indicated price of $2.02 per unit, under the company’s 2024 Incentive Compensation Plan. These DSUs will convert into common shares when the director separates from the company.

After the transaction, Tomolonius beneficially owns 28,196 DSUs—18,027 granted in 2012 and 10,169 granted in 2024—plus 13,926 common shares held outright. Her total economic exposure therefore rises to approximately 42,122 shares. Ownership remains direct and no derivative securities were involved.

The purchase modestly increases insider alignment but is not material relative to QRHC’s overall share count or trading volume. No indication of a Rule 10b5-1 trading plan was disclosed, and no additional executive or strategic information accompanied the filing.

Positive

• Director increased personal stake by 1,732 DSUs, reinforcing alignment with shareholders.
• Total beneficial ownership rises to ~42,000 shares, indicating continued long-term commitment.

Negative

• Immaterial transaction size relative to QRHC’s float limits market impact.
• DSUs convert only upon separation, so there is no immediate open-market purchase signal.

Insights

Financial Analyst

TL;DR: Small insider buy; signals confidence but negligible impact on valuation.

The 1,732-unit DSU grant lifts the director’s stake by roughly 4% to 42k shares, worth under $90k at recent prices. While continued accumulation aligns incentives and can be viewed positively, the size is immaterial versus QRHC’s float and will not affect liquidity, earnings, or governance metrics. No cash outlay or option exercise occurred, so market signalling power is limited. Overall, the filing is informational, with neutral investment impact.

Corporate Governance Expert

TL;DR: Routine equity grant enhances alignment; governance stance unchanged.

The DSUs vest only upon separation, encouraging long-term stewardship. Such grants are typical for non-employee directors and comply with the 2024 Incentive Plan. Because there are no derivatives, pledges, or sales, the action poses no governance red flags. However, its scale is too small to alter board independence or concentration metrics. I therefore classify the disclosure as routine and not impactful to shareholders.

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
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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^*

Redmile Group, LLC

(Last) (First) (Middle)

ONE LETTERMAN DRIVE, BUILDING D

SUITE D3-300

(Street)

SAN FRANCISCO CA 94129

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IGM Biosciences, Inc. [ IGMS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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
Common Stock	06/30/2025		A		828(1)	A	$0.00	2,964,843	I	See Footnotes(2)(3)

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

1. Name and Address of Reporting Person^*

Redmile Group, LLC

(Last) (First) (Middle)

ONE LETTERMAN DRIVE, BUILDING D

SUITE D3-300

(Street)

SAN FRANCISCO CA 94129

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Green Jeremy

(Last) (First) (Middle)

C/O REDMILE GROUP, LLC (NY OFFICE)

45 W. 27TH STREET, FLOOR 11

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. These securities are fully vested restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock. The amount reflects payment to Mr. Michael Lee of a quarterly retainer in common stock pursuant to the Issuer's Outside Director Compensation Policy.

2. These securities were granted to Mr. Lee, a managing director of Redmile Group, LLC ("Redmile"), in connection with his service as a member of the Board of Directors of the Issuer. Pursuant to the policies of Redmile, Mr. Lee holds these securities as a nominee on behalf, and for the sole benefit, of Redmile and has assigned all economic, pecuniary and voting rights in respect of the securities to Redmile. Mr. Lee disclaims beneficial ownership of the securities, and the filing of this Form 4 shall not be deemed an admission that Mr. Lee is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

3. The reported securities may also be deemed beneficially owned by Jeremy Green as the principal of Redmile (collectively with Redmile, the "Reporting Persons"). The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, if any, and this Form 4 shall not be deemed an admission that either Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Remarks:

Michael Lee, a member of the board of directors of the Issuer and a managing director of Redmile, was elected to the board of the Issuer as a representative of Redmile and its affiliates. As a result, the Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

	By: /s/ Jeremy Green, Managing Member of Redmile Group, LLC	07/02/2025
	/s/ Jeremy Green	07/02/2025
	** 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).
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FAQ

How many QRHC shares did Director Sarah Tomolonius acquire on June 30, 2025?

She acquired 1,732 deferred stock units under the 2024 Incentive Compensation Plan.

What is Director Tomolonius’s total ownership in QRHC after the transaction?

She now beneficially owns 28,196 DSUs and 13,926 common shares, totaling about 42,122 shares.

At what price were the QRHC deferred stock units valued?

The Form 4 lists a reference price of $2.02 per unit for the DSU grant.

When will the DSUs convert into QRHC common stock?

All DSUs convert to common shares upon the director’s separation from service with the company.

Did the Form 4 report any derivative securities transactions?

No. No derivative securities were acquired or disposed of in this filing.