T. Rowe Price Investment Management (STTK) reports 15.3% stake in Shattuck Labs

Rhea-AI Filing Summary

T. Rowe Price Investment Management, Inc. reports beneficial ownership of 13,432,540 shares of SHATTUCK LABS INC common stock on a Schedule 13G/A (Amendment No. 2). This position represents 15.3% of the outstanding common stock, all with sole dispositive power and 13,391,090 shares with sole voting power.

The firm states that voting and economic benefits ultimately belong to its underlying clients, who may revoke delegated authority. The T. Rowe Price Small-Cap Value Fund is identified as holding 3,565,344 shares, or 5.6% of the class. T. Rowe Price Investment Management expressly denies beneficial ownership in its own right.

Key Figures

Beneficial ownership: 13,432,540 shares Percent of class: 15.3% Sole voting power: 13,391,090 shares +3 more

6 metrics

Beneficial ownership 13,432,540 shares Common stock of Shattuck Labs Inc reported by T. Rowe Price Investment Management, Inc.

Percent of class 15.3% Portion of Shattuck Labs Inc common stock class reported as beneficially owned

Sole voting power 13,391,090 shares Shares for which T. Rowe Price Investment Management, Inc. has sole power to vote

Sole dispositive power 13,432,540 shares Shares for which T. Rowe Price Investment Management, Inc. has sole power to dispose

Small-Cap Value Fund holdings 3,565,344 shares Shattuck Labs Inc shares held by T. Rowe Price Small-Cap Value Fund

Small-Cap Value Fund percent 5.6% Portion of Shattuck Labs Inc common stock class held by T. Rowe Price Small-Cap Value Fund

Key Terms

Schedule 13G/A, beneficial ownership, sole voting power, sole dispositive power, +1 more

5 terms

Schedule 13G/A regulatory

"reports beneficial ownership on a Schedule 13G/A (Amendment No. 2)"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficial ownership financial

"Amount beneficially owned: 13432540 (b) | Percent of class: 15.3 %"

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.

sole voting power financial

"Sole Voting Power 13,391,090.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Sole Dispositive Power 13,432,540.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

investment adviser financial

"of which T. Rowe Price Investment Management, Inc. is the investment adviser"

An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.

FAQ

What percentage of SHATTUCK LABS INC (STTK) does T. Rowe Price Investment Management hold?

T. Rowe Price Investment Management reports beneficial ownership of 15.3% of SHATTUCK LABS INC common stock, representing 13,432,540 shares. This ownership is reported with sole dispositive power and largely sole voting power on behalf of its advisory clients.

How many SHATTUCK LABS INC (STTK) shares does T. Rowe Price Investment Management report?

The firm reports beneficial ownership of 13,432,540 shares of SHATTUCK LABS INC common stock. Of these, 13,391,090 shares are subject to sole voting power, and all 13,432,540 shares are subject to sole dispositive power.

What is the stake of T. Rowe Price Small-Cap Value Fund in SHATTUCK LABS INC (STTK)?

T. Rowe Price Small-Cap Value Fund holds 3,565,344 shares of SHATTUCK LABS INC, representing 5.6% of the common stock class. These securities are held in a portfolio managed by T. Rowe Price Investment Management, which serves as the fund’s investment adviser.

Who ultimately receives dividends and sale proceeds from the SHATTUCK LABS INC (STTK) shares held by T. Rowe Price Investment Management?

According to the filing, underlying clients of T. Rowe Price Investment Management, or their custodians or trustee banks, have the right to receive dividends and sale proceeds. Discretionary authority granted to T. Rowe Price Investment Management may be revoked at any time.

Does T. Rowe Price Investment Management claim beneficial ownership of SHATTUCK LABS INC (STTK) shares?

T. Rowe Price Investment Management expressly denies beneficial ownership of the SHATTUCK LABS INC securities in its own right. It states that ownership and economic benefits are vested in its individual and institutional advisory clients and relevant funds.

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Available on EDGAR 08/14/2026 - 10:41 AM Accepted by SEC EDGAR 08/14/2026 - 10:39 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

SHATTUCK LABS INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

82024L103

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 82024L103

1

Names of Reporting Persons

T. Rowe Price Investment Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 13,391,090.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,432,540.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,432,540.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

15.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SHATTUCK LABS INC
(b)	Address of issuer's principal executive offices: 500 W. 5TH STREET, AUSTIN, TX, 78701
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 82024L103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 13432540
(b)	Percent of class: 15.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 13391090
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 13432540
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Ownership of More than Five Percent on Behalf of Another Person (1) Price Investment Management does not serve as custodian of the assets of any of its clients; accordingly, in each instance only the client or the client's custodian or trustee bank has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. The ultimate power to direct the receipt of dividends paid with respect to, and the proceeds from the sale of, such securities, is vested in the individual and institutional clients which Price Investment Management serves as investment adviser. Any and all discretionary authority which has been delegated to Price Investment Management may be revoked in whole or in part at any time. Except as may be indicated if this is a joint filing with one of the registered investment companies sponsored by Price Investment Management which it also serves as investment adviser ("T. Rowe Price Funds"), not more than 5% of the class of such securities is owned by any one client subject to the investment advice of Price Investment Management. (2) [T. ROWE PRICE SMALL-CAP VALUE FUND ]: T. ROWE PRICE SMALL-CAP VALUE FUND, of which T. Rowe Price Investment Management, Inc. is the investment adviser, holds the securities reported herein in their investment portfolio managed by T. Rowe Price Investment Management, Inc. and such funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities that they hold. T. ROWE PRICE SMALL-CAP VALUE FUND has an interest in 3,565,344 of the class reported herein representing 5.6% of the class.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	08/14/2026