Third Rock fund trims Rapport (RAPP) stake in planned stock sale
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Rapport Therapeutics, Inc. insider entities affiliated with Third Rock Ventures reported an open‑market sale of 426,005 shares of common stock at a weighted average price of $40.317 per share. After the sale, one reporting holder retained 6,709,228 shares directly, while another related fund held 969,218 shares indirectly. The sale was carried out under a pre‑arranged Rule 10b5‑1 trading plan dated November 21, 2025.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 426,005 shares ($17,175,244)
Net Sell
2 txns
Insider
Third Rock Ventures V, L.P., Third Rock Ventures GP V, LP, TRV GP V, LLC, Third Rock Ventures VI, L.P., Third Rock Ventures GP VI, L.P., TRV GP VI, LLC
Role
null | null | null | null | null | null
Sold
426,005 shs ($17.18M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 426,005 | $40.317 | $17.18M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 6,709,228 shares (Direct, null);
Common Stock — 969,218 shares (Indirect, By Third Rock Ventures VI, L.P.)
Footnotes (1)
- The reported transactions were effected pursuant to a Rule 10b5-1 trading plan dated November 21, 2025, previously adopted by the Reporting Person. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.00 to $40.79, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2). These shares are directly held by Third Rock Ventures V, L.P. ("TRV V"). The general partner of TRV V is Third Rock Ventures GP V, L.P. ("TRV GP V"). The general partner of TRV GP V is TRV GP V, LLC ("TRV GP V LLC"). Each of TRV GP V and TRV GP V LLC disclaims beneficial ownership of the shares except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that it is the beneficial owner of such shares. The shares are held directly by Third Rock Ventures VI, L.P. ("TRV VI"). The general partner of TRV VI is Third Rock Ventures GP VI, L.P. ("TRV GP VI"). The general partner of TRV GP VI is TRV GP VI, LLC ("TRV GP VI LLC"). Each of TRV GP VI, and TRV GP VI LLC, disclaims beneficial ownership of these shares except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that it is the beneficial owner of such shares. Each of Reporting Persons disclaims the existence of a Section 13(d) "group" as between any TRV V related parties and any TRV VI related parties and this report shall not be deemed an admission that any of such parties is or may be part of such a group with any of the other parties.
Key Figures
Shares sold: 426,005 shares
Weighted average sale price: $40.317/share
Post-sale direct holdings: 6,709,228 shares
+2 more
5 metrics
Shares sold
426,005 shares
Open-market sale of common stock
Weighted average sale price
$40.317/share
Price for 426,005 sold shares
Post-sale direct holdings
6,709,228 shares
Common stock held directly by a reporting holder
Indirect holdings
969,218 shares
Common stock held indirectly by Third Rock Ventures VI, L.P.
Sale price range
$40.00–$40.79/share
Range of individual trade prices for sold shares
Key Terms
Rule 10b5-1 trading plan, weighted average price, pecuniary interest, Section 13(d) "group", +1 more
5 terms
Rule 10b5-1 trading plan financial
"The reported transactions were effected pursuant to a Rule 10b5-1 trading plan dated November 21, 2025"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"The price reported is a weighted average price. These shares were sold in multiple transactions"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
pecuniary interest financial
"disclaims beneficial ownership of the shares except to the extent of its pecuniary interest therein"
Section 13(d) "group" regulatory
"disclaims the existence of a Section 13(d) "group" as between any TRV V related parties"
indirect ownership financial
"The shares are held directly by Third Rock Ventures VI, L.P. ("TRV VI")"
FAQ
What insider transaction did Rapport Therapeutics (RAPP) disclose in this Form 4?
Rapport Therapeutics disclosed that entities affiliated with Third Rock Ventures sold 426,005 shares of common stock in an open-market transaction. The sale was reported as a routine Section 16 filing detailing insider activity and resulting share ownership levels after the transaction.
Was the Rapport Therapeutics (RAPP) insider sale made under a trading plan?
Yes. The filing states the reported transactions were effected under a Rule 10b5-1 trading plan dated November 21, 2025. Such plans are pre-arranged instructions for trading, designed to systematize insider sales irrespective of short-term market developments.