Rapport Therapeutics insider files Form 4; 5,000-option exercise and sale reported

Rhea-AI Filing Summary

Rapport Therapeutics insider Cheryl Gault, the company's Chief Operating Officer, reported transactions on 09/08/2025 under a Rule 10b5-1 trading plan adopted December 11, 2024. The Form 4 shows a simultaneous option exercise and sale: 5,000 shares were acquired by exercise of stock options at an exercise price of $1.80 per share and 5,000 shares were sold the same day at $38.33 per share.

After these transactions Ms. Gault directly beneficially owns 171,928 shares of common stock and holds 110,407 shares underlying outstanding options. The option grant vests 25% on August 7, 2024, with the remainder vesting monthly over 36 months, and the exercised options expire December 5, 2033.

Positive

• Transactions were executed under a documented Rule 10b5-1 plan, demonstrating pre-authorized, compliant insider trading
• Insider retains significant direct ownership of 171,928 shares plus 110,407 option shares, maintaining alignment with shareholders
• Full disclosure of vesting schedule and option expiration (25% vested Aug 7, 2024; remaining monthly over 36 months; expiration Dec 5, 2033)

Negative

• None.

Insights

Securities Analyst

TL;DR Insider exercised options at $1.80 and sold shares at $38.33 under a 10b5-1 plan; overall reported holdings remain sizable.

The transactions are routine for executives monetizing vested equity while following a pre-established Rule 10b5-1 plan. Exercising 5,000 options at a low strike cost and immediately selling the same number of shares realizes a substantial per-share spread without indicating any change in control or company fundamentals. Post-transaction direct ownership of 171,928 shares and 110,407 option shares outstanding retains meaningful insider alignment with shareholders.

Corporate Governance Expert

TL;DR Transactions were conducted under an approved trading plan, consistent with governance best practices for insider trading compliance.

The filing discloses clear adherence to a documented 10b5-1 plan adopted December 11, 2024, and includes vesting schedule details and option expiration, supporting transparency. The signature by an attorney-in-fact is present and the filing lists material facts required by Section 16. No departures from typical disclosure norms are evident.

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).

X

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^*

Gault Cheryl

(Last) (First) (Middle)

RAPPORT THERAPEUTICS, INC.

99 HIGH STREET, SUITE 2100

(Street)

BOSTON MA 02110

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Rapport Therapeutics, Inc. [ RAPP ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

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	09/08/2025		M(1)		5,000	A	$1.8	176,928	D
Common Stock	09/08/2025		S(1)		5,000	D	$38.33	171,928	D

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)	$1.8	09/08/2025		M(1)			5,000	(2)	12/05/2033	Common Stock	5,000	$0	110,407	D

Explanation of Responses:

1. These transactions were effected by the Reporting Person pursuant to a Rule 10b5-1 trading plan adopted on December 11, 2024.

2. 25% of the shares underlying this option vested and became exercisable on August 7, 2024, with the remaining shares vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date.

	/s/ Troy Ignelzi, Attorney-in-Fact	09/10/2025
	** 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 transactions did Cheryl Gault report on Form 4 for RAPP?

On 09/08/2025 Ms. Gault exercised 5,000 options at $1.80 per share and sold 5,000 shares at $38.33 per share under a 10b5-1 plan.

Was the trading done under a Rule 10b5-1 plan?

Yes. The Form 4 states the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on December 11, 2024.

How many shares does Cheryl Gault beneficially own after the reported trades?

After the transactions she directly beneficially owns 171,928 shares of common stock and holds options covering 110,407 underlying shares.

What is the vesting and expiration detail for the reported options?

The option grant vested 25% on August 7, 2024 with the remainder vesting in 36 equal monthly installments; the options expire on December 5, 2033.

Who signed the Form 4 filing?

The Form 4 was signed by Troy Ignelzi, Attorney-in-Fact on behalf of the reporting person on 09/10/2025.