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

Rhea-AI Filing Summary

General Mills, Inc. (GIS) filed a Form 4 reporting insider activity by Chief Strategy & Growth Officer Asheesh Saksena on 30 June 2025.

• Common stock award: 8,204 shares were acquired at $0.00 (equity compensation), lifting direct holdings to 13,860 shares; an additional 30 shares are held indirectly via trust.
• Option grant: 41,016 non-qualified stock options with a $51.81 strike price, expiring 30 July 2035, were awarded. Vesting occurs in four equal annual tranches beginning 30 June 2026.
• All transactions were coded “A” (acquisition) and were made in a single filing for one reporting person.

The filing indicates routine executive compensation rather than an open-market purchase. While the share award modestly increases insider equity exposure, the quantity remains immaterial relative to GIS’s ~600 million shares outstanding. The multi-year option grant aligns long-term incentives with shareholder value creation but provides limited near-term market insight.

Positive

• 8,204-share stock award increases executive insider ownership, a modestly positive confidence signal.
• 41,016 long-dated stock options align the Chief S&G Officer’s incentives with long-term shareholder value.

Negative

• None.

Insights

Financial Analyst

TL;DR Insider received stock and options; signal mildly positive but not material.

The 8,204-share award boosts Saksena’s direct stake to roughly $850k in market value (at ~$65/share)--a fractional 0.002% of shares outstanding. Option strike of $51.81 is ~20% below current market, providing embedded upside and long-term alignment, yet remains standard for executive compensation. Because transactions were awards, not open-market buys, they offer limited incremental information on insider sentiment. I classify the impact as neutral to slightly positive for governance, immaterial for valuation.

Corporate Governance Specialist

TL;DR Routine compensation grant; reinforces alignment, governance impact neutral.

The four-year vesting schedule encourages retention and forward-looking performance, consistent with best-practice pay structures. No Rule 10b5-1 box was checked, implying discretionary timing by the compensation committee. Absence of dispositions reduces perception of short-term profit-taking. However, scale is typical and unlikely to sway shareholder votes on pay. Overall governance impact is standard, neither controversial nor transformative.

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^*

Topsoe Jakob Haldor

(Last) (First) (Middle)

C/O IGM BIOSCIENCES, INC.

325 E. MIDDLEFIELD ROAD

(Street)

MOUNTAIN VIEW CA 94043

(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)

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
Common Stock	06/30/2025		A		828(1)	A	$0	91,712	D
Common Stock								10,400,564	I	See footnote(2)

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

Explanation of Responses:

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

2. The shares are held directly by Topsoe Holding A/S. Jakob Haldor Topsoe, Christina Teng Topsoe, Anne Haugwitz-Hardenberg-Reventlow, Emil Oigaard, Thomas Schleicher and Birgitte Nielsen, members of the board of directors of Topsoe Holding A/S, may be deemed to share voting and investment power with respect to the shares reported herein and disclaim beneficial ownership of such shares, except to the extent of his or her pecuniary interest therein, if any.

	/s/ Misbah Tahir, by power of attorney	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).
** 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.
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FAQ

How many General Mills (GIS) shares did Asheesh Saksena acquire?

8,204 common shares were awarded on 30 June 2025.

What options were granted to the GIS Chief S&G Officer?

He received 41,016 non-qualified options with a $51.81 strike, expiring 30 July 2035.

When do the newly granted GIS options vest?

They vest in four equal annual installments starting 30 June 2026.

What is Asheesh Saksena’s total direct GIS shareholding after the transaction?

His direct ownership rose to 13,860 shares.

Was the transaction an open-market purchase?

No. The filing codes the transactions as awards (code “A”) under the company’s compensation plan.