Summit Therapeutics co-CEO buys 100K shares
Summit Therapeutics Inc. Co-Chief Executive Officer Mahkam Zanganeh, acting through the Mahkam Zanganeh Revocable Trust where she serves as trustee, bought 100,000 shares of common stock in an open-market purchase at $14.60 per share.
Rhea-AI Filing Summary
Summit Therapeutics Inc. Co-Chief Executive Officer Mahkam Zanganeh, acting through the Mahkam Zanganeh Revocable Trust where she serves as trustee, bought 100,000 shares of common stock in an open-market purchase at $14.60 per share.
Following this transaction, that revocable trust held 25,824,474 shares of Summit Therapeutics common stock. Additional holdings reported include 31,000 shares held directly, 10,199,776 shares held by the Shaun Zanganeh Irrevocable Trust with her as trustee, 570,073,879 shares held by her spouse, and 76,680 shares held by an immediate family member. She disclaims beneficial ownership of these securities beyond any pecuniary interest.
Insider Trade Summary
Net Buyer: 100,000 shares
Net Buy
5 txns
Insider
Zanganeh Mahkam
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 Reporting Person as Trustee);
Common Stock — 76,680 shares (Indirect, Immediate family member);
Common Stock — 570,073,879 shares (Indirect, By Spouse);
Common Stock — 10,199,776 shares (Indirect, By the Shaun Zanganeh Irrevocable Trust, with the Reporting Person as Trustee);
Common Stock — 31,000 shares (Direct)
Footnotes (1)
- F1. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of her 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 size: 100,000 shares
Purchase price: $14.60 per share
Revocable trust holdings: 25,824,474 shares
+5 more
8 metrics
Open-market purchase size
100,000 shares
Common stock bought indirectly via revocable trust
Purchase price
$14.60 per share
Price for 100,000-share open-market purchase
Revocable trust holdings
25,824,474 shares
Shares held by Mahkam Zanganeh Revocable Trust after transaction
Direct holdings
31,000 shares
Shares held directly by Mahkam Zanganeh after transaction
Irrevocable trust holdings
10,199,776 shares
Shares held by Shaun Zanganeh Irrevocable Trust
Spouse holdings
570,073,879 shares
Shares reported as held by spouse
Immediate family holdings
76,680 shares
Shares held by immediate family member
Net insider share change
100,000 shares
Net buy according to transaction summary
Key Terms
open-market purchase, indirect ownership, Revocable Trust, pecuniary interest, +1 more
5 terms
open-market purchase financial
"100,000 shares of common stock in an open-market purchase at $14.60 per share"
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
"the transaction was made indirectly through the Mahkam Zanganeh Revocable Trust"
Revocable Trust financial
"by the Mahkam Zanganeh Revocable Trust, with the 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.
pecuniary interest financial
"disclaims beneficial ownership of these securities, except to the extent of her pecuniary interest therein"
Section 16 regulatory
"shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did SMMT Co-CEO Mahkam Zanganeh report?
Mahkam Zanganeh reported an open-market purchase of 100,000 Summit Therapeutics common shares at $14.60 each. The transaction was made indirectly through the Mahkam Zanganeh Revocable Trust, where she serves as trustee, and increased that trust’s reported holdings to 25,824,474 shares.
What is the overall net effect of this Form 4 on SMMT insider positions?
The Form 4 reflects a net buy of 100,000 Summit Therapeutics shares, all from a single open-market purchase. Other line items update direct and indirect holdings, but the transaction summary shows no sales, gifts, or derivative exercises, only this one net purchase event.
AI-generated analysis. How Rhea-AI works. Not financial advice.
