Tango Therapeutics (NASDAQ: TNGX) outlines Barbara Weber separation package
Rhea-AI Filing Summary
Tango Therapeutics amended an earlier disclosure to add the terms of a Separation Agreement with former Executive Chair Dr. Barbara Weber, whose employment and board roles ended effective August 3, 2026. The agreement was executed on August 6, 2026.
Dr. Weber is entitled to base-salary severance through December 31, 2026, paid in installments, and reimbursement of monthly COBRA premiums through the same date, conditional on not revoking the agreement. Equity terms include full acceleration of outstanding options and RSUs (subject to Compensation Committee approval) and extension of the post-termination exercise period for vested and accelerated options to the earlier of August 3, 2027 or each option’s original expiration. She will also receive a pro‑rata 2026 annual incentive, if earned based on company and individual performance, paid with other employees’ bonuses no later than March 15, 2027.
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8-K Event Classification
Key Figures
Key Terms
Separation Agreement regulatory
COBRA regulatory
restricted Stock Unit awards financial
annual incentive compensation financial
synthetic lethality medical
forward-looking statements regulatory
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FAQ
What leadership change did Tango Therapeutics (TNGX) report regarding Dr. Barbara Weber?
What severance and health benefits does Dr. Weber receive under the Tango Therapeutics (TNGX) Separation Agreement?
How are Dr. Weber’s stock options and RSUs treated in the Tango Therapeutics (TNGX) Separation Agreement?
What bonus or incentive compensation could Dr. Weber receive from Tango Therapeutics (TNGX) for 2026?
What conditions must Dr. Weber satisfy to receive benefits under the Tango Therapeutics (TNGX) Separation Agreement?
Which exhibits accompany Tango Therapeutics’ (TNGX) disclosure about Dr. Weber’s departure?
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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EXPLANATORY NOTE
On August 6, 2026, Tango Therapeutics, Inc. (the “Company”) filed a Current Report on Form 8-K (the “Original Form 8-K”) announcing that effective August 3, 2026, Barbara Weber, M.D.’s employment with the Company as its Executive Chair ended, and Dr. Weber is deemed to have resigned from all officer and board member positions, including as a member of the Company’s board of directors (the “Board”). As disclosed in the Original Form 8-K, the Company offered Dr. Weber the opportunity to receive certain benefits if Dr. Weber executes and does not revoke a separation agreement as set forth in her Amended and Restated Employment Agreement with the Company dated January 8, 2026 (the “Employment Agreement”).
The Company hereby amends Item 5.02 of the Original Form 8-K to include the terms of the executed separation agreement. Except as set forth herein, no other disclosure included in the Original Form 8-K is being amended by this Form 8-K/A.
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On August 6, 2026, Dr. Weber and the Company executed the separation agreement (the “Separation Agreement”), which provides for Dr. Weber to receive: (i) severance pay at Dr. Weber’s current base salary through December 31, 2026, paid out in substantially equal installments, and (ii) reimbursement for any monthly COBRA premium payments up to December 31, 2026. In addition, the Separation Agreement provides for: (x) full acceleration of Dr. Weber’s outstanding option and restricted Stock Unit awards, subject to the approval of the Board’s Compensation Committee, (y) extension of the post-termination exercise period for any of Dr. Weber’s vested stock options as of August 3, 2026, along with the options subject to the acceleration of vesting as described above, to the earlier of August 3, 2027 or the original expiration date of the applicable option, and (z) a payment of a pro-rata portion of the annual incentive compensation that she would otherwise be entitled to receive, if any, based on Company and individual performance for 2026, which will be paid at the same time as annual incentive compensation payments are made to the Company’s active employees for 2026, no later than March 15, 2027. In order to receive the foregoing benefits, Dr. Weber must not revoke the Separation Agreement as set forth in the Employment Agreement.
The foregoing description of the terms and conditions of the Separation Agreement does not purport to be complete and is qualified in its entirety by the Separation Agreement, which is attached hereto as Exhibit 10.1 and incorporated by reference herein.
| Item 7.01 | Regulation FD Disclosure |
On August 6, 2026, the Company issued a press release announcing Dr. Weber’s departure from the Company. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in Item 7.01 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liability of that section. Nor shall such document be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in the filing, unless specifically stated so therein.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit Number |
Description of Exhibit | |
| 10.1 | Separation Agreement, dated as of August 6, 2026 by and between the Company and Barbara Weber, M.D. | |
| 99.1 | Press release, dated August 6, 2026. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Tango Therapeutics, Inc. | ||||||
| Date: August 7, 2026 | /s/ Malte Peters, M.D. | |||||
| Malte Peters, M.D. | ||||||
| President and Chief Executive Officer | ||||||
Exhibit 99.1
Tango Therapeutics Announces Executive Chair Transition
BOSTON, Aug. 06, 2026 (GLOBE NEWSWIRE) — Tango Therapeutics, Inc. (NASDAQ: TNGX), a clinical-stage biotechnology company committed to discovering and delivering the next generation of precision cancer medicines, today announced that Dr. Barbara Weber, the Executive Chairman of the Board of Directors of Tango Therapeutics, will be stepping down in connection with other pursuits.
“I am proud with what we have achieved at Tango and am confident that the Company is extremely well positioned to build on those achievements,” Dr. Weber said.
“The Company is profoundly grateful to Dr. Weber for all that she has brought to it: vision, leadership, passion for Tango and its employees and commitment to the groundbreaking work we are doing,” said Tango President Dr. Malte Peters.
About Tango Therapeutics
Tango Therapeutics is a clinical-stage biotechnology company dedicated to discovering novel drug targets and delivering the next generation of precision medicine for the treatment of cancer. Using an approach that starts and ends with patients, Tango leverages the genetic principle of synthetic lethality to discover and develop therapies that take aim at critical targets in cancer.
Forward-Looking Statements
Certain statements in this press release may be considered forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including statements regarding Forward-looking statements are not purely historical and may be accompanied by words such as “may,” “should,” “expect,” “intend,” “plan,” “will,” “goal,” “estimate,” “anticipate,” “believe,” “predict,” “designed,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology.
Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties, many of which are beyond Tango’s control, and actual results could differ materially from those expressed or implied by these statements. These risks and uncertainties include, among others, risks related to drug development, clinical trials, regulatory review and approval, commercialization, competition, financing and Tango’s ability to execute its business strategy. Additional information concerning risks, uncertainties and assumptions can be found in Tango’s filings with the Securities and Exchange Commission (SEC), including the risk factors referenced in Tango’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Tango specifically disclaims any duty to update these forward-looking statements.
Investors:
Elizabeth Hickin
ehickin@tangotx.com
Media:
1AB
Amanda Lazaro
amanda@1abmedia.com