Rapport Therapeutics Form 4: Wendy Young Receives 10,925 Options

Rhea-AI Filing Summary

Rapport Therapeutics, Inc. (RAPP) – Form 4 filing

Director Wendy B. Young reported the grant of 10,925 stock options on 17 June 2025 at an exercise price of $10.95. No common shares were bought or sold. The options vest on the earlier of 17 June 2026 or the company’s next annual meeting, contingent on her continued board service, and expire on 17 June 2035. Following the grant, Young beneficially owns 10,925 derivative securities; there is no change to her direct common-stock holdings.

This appears to be a routine equity-incentive award meant to align the director’s interests with shareholders, with no immediate cash impact or dilution event disclosed.

Insights

Corporate Governance Specialist

TL;DR: Routine director option grant; no shares sold or bought; immaterial market impact.

The filing documents a standard non-cash incentive—10,925 options at $10.95—to Director Wendy B. Young. Vesting over one year or upon the next AGM is typical for outside directors, ensuring retention and alignment. No open-market transactions, repricings, or accelerated vesting clauses appear, so governance risk is low. Investors should view this as neutral housekeeping rather than a signal on fundamentals.

Sell-Side Financial Analyst

TL;DR: Neutral Form 4; minor incentive grant, no valuation effect.

With only 10,925 options issued, the theoretical dilution is negligible relative to RAPP’s total shares outstanding. Exercise price of $10.95 sits near recent trading levels, indicating market-priced compensation rather than deep in-the-money awards. Because there is neither insider accumulation nor disposal of common shares, this filing provides little incremental information about insider sentiment or near-term earnings prospects.

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^*

Young Wendy B.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025

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)	$10.95	06/17/2025		A		10,925		(1)	06/17/2035	Common Stock	10,925	$0	10,925	D

Explanation of Responses:

1. The shares underlying this option shall vest upon the earlier of (i) June 17, 2026 and (ii) the date of the next Annual Meeting of Stockholders of the Issuer, subject to the Reporting Person's continued service on such vesting date.

	/s/ Troy Ignelzi, Attorney-in-Fact	06/18/2025
	** 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 options were granted to RAPP director Wendy B. Young?

She received 10,925 stock options.

What is the exercise price of the newly issued options for RAPP?

The options carry an exercise price of $10.95 per share.

When will Wendy B. Young's options vest?

They vest on the earlier of 17 June 2026 or the date of the next annual meeting, provided she remains a director.

Did the director buy or sell any RAPP common shares?

No. The Form 4 shows no common-stock transactions; only an option grant was reported.

What is the expiration date of the granted options?

The options expire on 17 June 2035.