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Tango Therapeutics (NASDAQ: TNGX) details Barbara Weber severance terms

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Tango Therapeutics, Inc. reports that Dr. Barbara Weber’s employment as Executive Chair ended on August 3, 2026, in accordance with her Amended and Restated Employment Agreement dated January 8, 2026, and that she is deemed to have resigned from all officer and board positions.

The company states that her resignation was not due to any disagreement regarding operations, practices or policies. Subject to Dr. Weber executing and not revoking a Separation Agreement, she is offered base-salary severance and COBRA reimbursement through December 31, 2026, acceleration of equity awards equal to 12 additional months of vesting, an extended stock option exercise period to the earlier of August 3, 2027 or the options’ original expirations, and a pro‑rated 2026 annual incentive payable no later than March 15, 2027. The company plans to file the Separation Agreement once it is fully effective and includes cautionary language regarding forward‑looking statements.

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Employment end date August 3, 2026 Date Dr. Barbara Weber’s employment as Executive Chair ended
Severance and COBRA end date December 31, 2026 End date through which base salary severance and COBRA premiums may be provided
Option exercise extension date August 3, 2027 Latest date to exercise vested and accelerated options, subject to original expirations
10-K year-end December 31, 2025 Year-end for the company’s referenced Annual Report on Form 10-K
Annual incentive payment deadline March 15, 2027 Latest payment date for pro‑rated 2026 annual incentive compensation
Executive Chair financial
"Dr. Barbara Weber’s employment with Tango Therapeutics as its Executive Chair ended"
An executive chair is the board chairperson who also takes an active, hands-on role in company management, typically working closely with the CEO and senior team to shape strategy and major decisions. For investors it matters because this blend of oversight and operational power can accelerate strategic moves and provide steady leadership—like a coach who also calls plays—but it can also concentrate authority and create governance or succession risks if too much depends on one person.
COBRA premium payments regulatory
"reimbursement for any monthly COBRA premium payments up to December 31, 2026"
restricted stock unit awards financial
"vesting of such number of Dr. Weber’s outstanding option and restricted stock unit awards"
Restricted stock unit awards are company promises to deliver a specific number of shares to employees or service providers in the future once conditions—such as staying with the company for a set time or meeting performance targets—are met. They matter to investors because when the promises convert into actual shares they increase the total share count and can reduce earnings per share, while also aligning recipients’ interests with stock performance much like deferred pay that turns into ownership if goals are met.
annual incentive compensation financial
"pay Dr. Weber a pro-rata portion of the annual incentive compensation"
forward-looking statements regulatory
"contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Risk Factors regulatory
"described in greater detail in the section entitled “Risk Factors” in the Company’s Annual Report"
Risk factors are elements or conditions that could cause an investment's value to decrease or lead to potential losses. They are like warning signs or obstacles that can affect the success of an investment, making it uncertain or more unpredictable. Recognizing risk factors helps investors understand the possible challenges and make more informed decisions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What leadership change did Tango Therapeutics (TNGX) disclose?
Tango Therapeutics disclosed that Dr. Barbara Weber’s employment as Executive Chair ended on August 3, 2026. Under her employment agreement, she is also deemed to have resigned from all officer roles and from the company’s board of directors effective on that date.

Was Dr. Barbara Weber’s resignation from Tango Therapeutics (TNGX) due to a disagreement?
No. Tango Therapeutics states that Dr. Weber’s resignation was not a result of any disagreement with the company on matters relating to its operations, practices or policies. Her departure is described as occurring in accordance with her employment agreement terms.

What severance benefits is Tango Therapeutics (TNGX) offering Dr. Weber?
Subject to a Separation Agreement, Dr. Weber is offered salary-based severance and COBRA reimbursement through December 31, 2026, accelerated vesting of equity equal to 12 months of additional service, an extended option exercise deadline and a pro‑rated 2026 annual incentive payment.

How long is Dr. Weber’s stock option exercise period extended by Tango Therapeutics (TNGX)?
For vested and accelerated options, Tango Therapeutics offers to extend the post-termination exercise period to the earlier of August 3, 2027 or the original expiration date of each option. This extension applies to options vested as of, or accelerated from, August 3, 2026.

When will Dr. Weber’s pro‑rated 2026 incentive be paid by Tango Therapeutics (TNGX)?
The company indicates that Dr. Weber will receive a pro‑rated portion of 2026 annual incentive compensation, if any is earned, at the same time 2026 incentives are paid to active employees, and in any event no later than March 15, 2027.

What condition must Dr. Weber meet to receive severance from Tango Therapeutics (TNGX)?
To receive the outlined benefits, Dr. Weber must execute and not revoke a Separation Agreement as provided in her Employment Agreement. The company plans to file this Separation Agreement once it has become fully effective.
false 0001819133 0001819133 2026-07-31 2026-07-31
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 31, 2026

 

 

TANGO THERAPEUTICS, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

 

Delaware   001-39485   85-1195036

(State or Other Jurisdiction

of Incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

201 Brookline Ave., Suite 901

Boston, MA

   02215
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s Telephone Number, Including Area Code: 857-320-4900

 

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading
Symbol(s)

  

Name of each exchange

on which registered

Common Stock, $0.001 par value   TNGX   The Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Dr. Barbara Weber’s employment with Tango Therapeutics, Inc. (the “Company”) as its Executive Chair ended on August 3, 2026 in accordance with the terms of her Amended and Restated Employment Agreement dated January 8, 2026 (the “Employment Agreement”). Consistent with the terms of the Employment Agreement, Dr. Weber is deemed to have resigned from all officer and board member positions, including as a member of Company’s board of directors (the “Board”) upon the termination of Dr. Weber’s employment. Dr. Weber’s resignation was not a result of any disagreement with the Company on any matter relating to the Company’s operations, practices or policies.

In connection with Dr. Weber’s separation and consistent with the Employment Agreement, the Company offered Dr. Weber the opportunity 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 and (ii) acceleration of the vesting of such number of Dr. Weber’s outstanding option and restricted stock unit awards that would have otherwise vested had Dr. Weber remained in continuation of her service with the Company for an additional twelve months following August 3, 2026. In addition, the Company has offered to extend 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 to pay Dr. Weber 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 execute and not revoke a 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 will be filed by the Company once it has become fully effective.

Cautionary Note Regarding Forward Looking Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding the anticipated execution of the Separation Agreement and its terms. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “expect,” “estimate,” “seek,” “predict,” “future,” “project,” “potential,” “continue,” “target” and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by the forward-looking statements contained in this Current Report on Form 8-K. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as well as any subsequent filings with the SEC. In addition, the forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

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 6, 2026      

/s/ Malte Peters, M.D.

      Malte Peters, M.D.
      President and Chief Executive Officer

Source: View Original Filing on SEC EDGAR

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