Summit Co‑CEO linked trust buys 100K SMMT shares
Summit Therapeutics Inc. director and Co‑CEO Robert W. Duggan reported an indirect open‑market purchase of 100,000 shares of Common Stock at $14.60 per share.
Rhea-AI Filing Summary
Summit Therapeutics Inc. director and Co‑CEO Robert W. Duggan reported an indirect open‑market purchase of 100,000 shares of Common Stock at $14.60 per share. The transaction was made by the Mahkam Zanganeh Revocable Trust, with his spouse as trustee, bringing that trust’s reported holdings to 25,824,474 shares.
The filing also lists additional positions associated with Duggan, including 570,073,879 shares held directly, 10,199,776 shares held by the Shaun Zanganeh Irrevocable Trust, 31,000 shares held by his spouse, and 76,680 shares held by an immediate family member of his spouse. A footnote states he disclaims beneficial ownership of these securities except to the extent of any pecuniary interest.
Insider Trade Summary
Net Buyer: 100,000 shares
Net Buy
5 txns
Insider
DUGGAN ROBERT W
Role
Co-Chief Executive Officer
Bought
100,000 shs ($1.46M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 100,000 | $14.60 | $1.46M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 25,824,474 shares (Indirect, By the Mahkam Zanganeh Revocable Trust, with the Spouse of Reporting Person as Trustee);
Common Stock — 570,073,879 shares (Direct);
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
Open-market purchase: 100,000 shares
Purchase price: $14.60/share
Trust holdings post-transaction: 25,824,474 shares
+4 more
7 metrics
Open-market purchase
100,000 shares
Common Stock bought indirectly on transaction date
Purchase price
$14.60/share
Price paid for 100,000 Common Stock shares
Trust holdings post-transaction
25,824,474 shares
Mahkam Zanganeh Revocable Trust total after purchase
Direct holdings
570,073,879 shares
Common Stock held directly by reporting person
Shaun Zanganeh Irrevocable Trust
10,199,776 shares
Indirect Common Stock holdings via this trust
Spouse holdings
31,000 shares
Common Stock held indirectly by spouse
Immediate family member holdings
76,680 shares
Common Stock held by immediate family member of spouse
Key Terms
open-market purchase, indirect ownership, revocable trust, irrevocable trust, +1 more
5 terms
open-market purchase financial
"Purchase in open market or private transaction"
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.
indirect ownership financial
"ownership_type": "indirect" and ownership_code": "I""
revocable trust financial
"By the Mahkam Zanganeh Revocable Trust, with the Spouse of Reporting Person as Trustee"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
irrevocable trust financial
"By the Shaun Zanganeh Irrevocable Trust, with the Spouse of Reporting Person as Trustee"
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
pecuniary interest financial
"except to the extent of his pecuniary interest therein, if any"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Summit Therapeutics (SMMT) insider Robert Duggan report in this Form 4?
He reported an indirect open‑market purchase of 100,000 Summit Therapeutics common shares at $14.60 per share through the Mahkam Zanganeh Revocable Trust, along with updated totals for several direct and indirect shareholdings associated with him and related parties.
What are Robert Duggan’s reported direct SMMT holdings in this filing?
The Form 4 lists 570,073,879 Summit Therapeutics common shares as held directly. This direct position is shown separately from multiple indirect holdings through trusts, spouse, and an immediate family member of his spouse, each with its own reported share balance.
What other indirect Summit Therapeutics (SMMT) holdings are reported besides the trust that bought shares?
The filing shows 10,199,776 shares held by the Shaun Zanganeh Irrevocable Trust, 31,000 shares held by the spouse, and 76,680 shares held by an immediate family member of the spouse. All are classified as indirect ownership positions associated with the reporting person.
AI-generated analysis. How Rhea-AI works. Not financial advice.
