Tango Therapeutics details CFO separation terms
Rhea-AI Filing Summary
Tango Therapeutics, Inc. entered into a Separation Agreement and Release with former Chief Financial Officer Daniella Beckman on May 7, 2026, following the Board’s earlier decision that she would cease serving as CFO, principal accounting officer and principal financial officer effective April 15, 2026.
Under the agreement and her employment contract, Ms. Beckman will receive 12 months of severance pay at her current base salary, paid in installments, plus reimbursement of monthly COBRA premiums for up to 12 months. The company will also accelerate the vesting of her outstanding stock options and restricted stock units to reflect an additional 24 months of continued service from her May 1, 2026 employment end date and extend the post-termination stock option exercise period through August 31, 2026, in exchange for her signing a general release in favor of the company.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.02, 9.01
2 items
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.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Severance duration: 12 months
COBRA reimbursement period: 12 months
Additional vesting service credit: 24 months
+4 more
7 metrics
Severance duration
12 months
Severance pay at current base salary
COBRA reimbursement period
12 months
Reimbursement of monthly COBRA premiums
Additional vesting service credit
24 months
Equity vesting as if 24 more months of service
Last day of employment
May 1, 2026
Ms. Beckman’s employment end date
CFO role end date
April 15, 2026
Effective date she ceased serving as CFO
Separation Agreement date
May 7, 2026
Date Separation Agreement and Release was executed
Option exercise deadline
August 31, 2026
End of extended post‑termination exercise period
Key Terms
Separation Agreement and Release, COBRA, restricted stock unit, post-termination exercise period, +1 more
5 terms
Separation Agreement and Release financial
"the Company and Ms. Beckman entered into a Separation Agreement and Release"
COBRA financial
"reimbursement for any monthly COBRA premium payments for up to 12 months"
COBRA is a U.S. federal law that lets employees and their dependents temporarily keep employer-sponsored health insurance after job loss, reduction in hours, or other qualifying events by paying the premiums themselves. Investors should care because offering COBRA can affect a company’s cash flow, administrative costs and legal disclosures when workforce changes occur—similar to a former club member paying to keep their membership active after leaving the club.
restricted stock unit financial
"outstanding option and restricted stock unit awards that would have otherwise vested"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
post-termination exercise period financial
"extend the post-termination exercise period for any of Ms. Beckman’s vested stock options"
general release financial
"In order to receive the foregoing benefits, Ms. Beckman executed a general release"
FAQ
What did Tango Therapeutics (TNGX) disclose about its CFO change?
Tango Therapeutics disclosed that its Board previously decided Daniella Beckman would stop serving as Chief Financial Officer on April 15, 2026. The company then signed a Separation Agreement on May 7, 2026, outlining her severance, benefits, and equity treatment.
What severance will former CFO Daniella Beckman receive from Tango Therapeutics (TNGX)?
Under the Separation Agreement, Daniella Beckman will receive 12 months of severance pay at her current base salary. The payments will be made in substantially equal installments over a 12‑month period, consistent with the terms of her employment agreement.
How does Tango Therapeutics (TNGX) handle COBRA benefits in the CFO separation?
Tango Therapeutics agreed to reimburse Daniella Beckman for any monthly COBRA premium payments for up to 12 months. This reimbursement supports continued health coverage for a defined period following her May 1, 2026 employment end date.
What happens to Daniella Beckman’s equity awards after leaving Tango Therapeutics (TNGX)?
The company will accelerate vesting of Ms. Beckman’s outstanding stock options and restricted stock units as if she had continued service for an additional 24 months after May 1, 2026. This increases the portion of her existing equity awards that become fully vested.
How long can the former CFO exercise her Tango Therapeutics (TNGX) stock options?
Tango Therapeutics extended the post‑termination exercise period for Daniella Beckman’s vested stock options through August 31, 2026. This gives her additional time beyond her departure date to decide whether to exercise previously vested options.
Is there a release requirement in the Tango Therapeutics (TNGX) CFO separation agreement?
Yes. To receive severance, COBRA reimbursement, accelerated vesting, and the extended option exercise period, Daniella Beckman executed a general release in favor of Tango Therapeutics. This release is a standard condition in many executive separation arrangements.
AI-generated analysis. How Rhea-AI works. Not financial advice.
