Summit Therapeutics insider buys 3.81M SMMT shares
Summit Therapeutics Inc. Co-Chief Executive Officer and director Robert W. Duggan reported an open-market purchase of 3,810,000 shares of common stock at $13.12 per share.
Rhea-AI Filing Summary
Summit Therapeutics Inc. Co-Chief Executive Officer and director Robert W. Duggan reported an open-market purchase of 3,810,000 shares of common stock at $13.12 per share. After this transaction, he directly holds 573,883,879 shares of Summit Therapeutics common stock.
The filing also lists indirect holdings attributed to entities and individuals related to him, including 10,199,776 shares held by the Shaun Zanganeh Irrevocable Trust, 25,824,474 shares held by the Mahkam Zanganeh Revocable Trust, 31,000 shares held by his spouse, and 76,680 shares held by an immediate family member of his spouse. He disclaims beneficial ownership of these indirect holdings except to the extent of any pecuniary interest.
Insider Trade Summary
Net Buyer: 3,810,000 shares
Net Buy
5 txns
Insider
DUGGAN ROBERT W
Role
Co-Chief Executive Officer
Bought
3,810,000 shs ($49.99M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 3,810,000 | $13.12 | $49.99M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 573,883,879 shares (Direct);
Common Stock — 25,824,474 shares (Indirect, By the Mahkam Zanganeh Revocable Trust, with the Spouse of Reporting Person as Trustee);
Common Stock — 76,680 shares (Indirect, Immediate family member of Spouse);
Common Stock — 31,000 shares (Indirect, By Spouse);
Common Stock — 10,199,776 shares (Indirect, By the Shaun Zanganeh Irrevocable Trust, with the Spouse of Reporting Person as Trustee)
Footnotes (1)
- F1. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.
Key Figures
Shares purchased: 3,810,000 shares
Purchase price: $13.12 per share
Direct holdings after transaction: 573,883,879 shares
+4 more
7 metrics
Shares purchased
3,810,000 shares
Open-market purchase of Summit Therapeutics common stock
Purchase price
$13.12 per share
Price paid for 3,810,000 common shares
Direct holdings after transaction
573,883,879 shares
Common stock directly held following the reported purchase
Shaun Zanganeh Irrevocable Trust holdings
10,199,776 shares
Indirect holdings related to reporting person
Mahkam Zanganeh Revocable Trust holdings
25,824,474 shares
Indirect holdings related to reporting person
Spouse holdings
31,000 shares
Indirect holdings by spouse of reporting person
Immediate family member holdings
76,680 shares
Indirect holdings by immediate family member of spouse
Key Terms
open-market purchase, beneficial ownership, pecuniary interest, Section 16, +1 more
5 terms
open-market purchase financial
"transaction_action":"open-market purchase""
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of these securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"except to the extent of his pecuniary interest therein, if any"
Section 16 regulatory
"for purposes of Section 16 or for any other purpose"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
indirect ownership financial
""ownership_type": "indirect", "ownership_code": "I""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Summit Therapeutics (SMMT) report for Robert W. Duggan?
Summit Therapeutics reported that Robert W. Duggan completed an open-market purchase of 3,810,000 shares of common stock at $13.12 per share. This filing reflects a significant direct addition to his equity position in the company.
Does Robert W. Duggan disclaim beneficial ownership of some Summit Therapeutics (SMMT) shares?
Yes. The filing states he disclaims beneficial ownership of the indirectly held securities, except to the extent of his pecuniary interest, if any. This means he does not concede full beneficial ownership of those indirect positions for Section 16 or other purposes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
