MAZE insider: 18,000-share option awarded to director at $23.67 strike

Rhea-AI Filing Summary

Maze Therapeutics director Charles J. Homcy was granted a stock option to buy 18,000 shares of Maze Therapeutics common stock at an exercise price of $23.67 per share. The option is reported as a direct holding and covers 18,000 underlying shares with an exercise/expiration reference shown as 09/21/2035. The option vests monthly as to 1/9 of the award, with the first tranche vesting on October 1, 2025, subject to the holder’s continued service.

The grant increases the reporting person’s beneficial ownership by 18,000 shares on the reported transaction date of September 22, 2025. No cash exercise is indicated in the filing and the option is described as a right to buy common stock under standard vesting conditions tied to continued service.

Positive

• Director alignment: Award vests over time, aligning the director with shareholder interests through service-based vesting
• Direct ownership disclosed: The option is recorded as a direct holding for 18,000 shares, providing transparency

Negative

• Potential dilution: Grant of 18,000-option shares could dilute existing shareholders when exercised if not managed
• Limited context: Filing does not disclose total outstanding options or aggregate insider holdings to assess materiality

Insights

Securities Analyst

TL;DR: A director received a standard service-vested option for 18,000 shares at $23.67, modestly increasing insider-held potential equity.

The option grant of 18,000 shares at a $23.67 strike appears to be a routine director compensation award rather than a transaction to monetize holdings. Vesting is back-loaded over nine monthly tranches after October 1, 2025, which aligns incentives with continued service. The direct ownership entry indicates the reporting person holds economic exposure to the underlying shares once vested. This is a single, non-derivative-linked director grant and does not disclose any concurrent exercise or sale activity.

Corporate Governance Expert

TL;DR: Governance-wise this is a standard service-based option grant for a director; materiality to shareholders is limited absent larger compensation context.

The filing documents a freshly granted stock option with time-based vesting that ties the director’s pay to future company performance and tenure. From a governance perspective, such awards are common to align director interests with shareholders. The filing does not disclose accelerated vesting, special performance conditions, or transfer to related parties. Without additional information on total outstanding options or director compensation policies, the grant appears routine and not a material corporate governance event.

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).

1. Name and Address of Reporting Person^*

HOMCY CHARLES J

(Last) (First) (Middle)

C/O MAZE THERAPEUTICS, INC.

171 OYSTER POINT BOULEVARD, SUITE 300

(Street)

SOUTH SAN FRANCISCO CA 94080

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Maze Therapeutics, Inc. [ MAZE ]

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)
09/22/2025

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)	$23.67	09/22/2025		A		18,000		(1)	09/21/2035	Common Stock	18,000	$0	18,000	D

Explanation of Responses:

1. The option shall vest as to 1/9 of the total award monthly with the first tranche vesting on October 1, 2025, subject to the reporting person's continued service to the Issuer on the applicable vesting date.

	/s/ Courtney Phillips, as attorney-in-fact	09/24/2025
	** 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 Maze Therapeutics (MAZE) disclose about insider activity?

The filing reports a director, Charles J. Homcy, received a stock option for 18,000 underlying shares at an exercise price of $23.67 per share.

When does the option vest and become exercisable?

The option vests monthly as to 1/9 of the total award with the first tranche vesting on October 1, 2025, subject to continued service.

How many shares will the reporting person beneficially own after the reported transaction?

The filing reports the reporting person will beneficially own 18,000 shares following the transaction.

What is the term or expiration referenced for the option?

The filing lists an exercise/expiration reference of 09/21/2035 for the option.

Was any cash exercise or sale reported alongside the grant?

No cash exercise or sale was reported; the filing shows an A (acquisition) code for the option grant only.