Form 4: Third Rock affiliates report sales of Tango Therapeutics shares
Rhea-AI Filing Summary
Third Rock Ventures affiliates reported sales of Tango Therapeutics (TNGX) common stock. On 09/05/2025 TRV IV sold 642,906 shares at $7.00 per share and on 09/08/2025 it sold 86,459 shares at a weighted-average price of $7.0395. Following the 09/05 transaction the reporting person disclosed beneficial ownership of 14,813,975 shares and following the 09/08 sale beneficial ownership was reported as 14,727,516 shares. The filing identifies Third Rock Ventures IV, L.P., Third Rock Ventures GP IV, L.P., and TRV GP IV, LLC and includes the standard disclaimer that the general partners disclaim beneficial ownership except to the extent of any pecuniary interest.
Positive
- Full disclosure of transactions and post-sale holdings by the reporting entities, including transaction dates, share counts, prices, and resulting beneficial ownership
- Inclusion of weighted-average price disclosure with an offer to provide detailed breakdowns upon request
Negative
- Insider sales totaling 729,365 shares (642,906 + 86,459) indicate significant insider liquidity
- Filing contains no explanation for the sales or whether they were part of a pre-established trading plan
Insights
TL;DR Insider group sold ~729k TNGX shares across two dates, reducing their reported beneficial stake to 14.73M shares.
These Form 4 entries document routine dispositions by a director/10% owner group rather than option exercises or derivative activity. The sales occurred at prices around $7.00–$7.14 (weighted average reported at $7.0395) and materially changed the group's reported holdings by about 86,459 shares between filings. For investors, the transactions provide clarity on immediate insider liquidity but do not by themselves reveal drivers or intent; the filing contains no other corporate developments or financial performance data.
TL;DR Disclosure meets Section 16 requirements and includes the customary beneficial ownership disclaimer by GP entities.
The filing properly lists the reporting persons, transaction codes, numbers sold, prices, and post-transaction beneficial ownership. It also includes the common legal disclaimer that the GP entities disclaim beneficial ownership except for any pecuniary interest. There are no declared derivative transactions or additional notes on trading plans in the document. From a governance perspective, the form appears complete and timely for the reported transactions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 86,459 | $7.0395 | $609K |
| Sale | Common Stock | 642,906 | $7.00 | $4.50M |
Footnotes (1)
- These shares are directly held by Third Rock Ventures IV, L.P. ("TRV IV"). The general partner of TRV IV is Third Rock Ventures GP IV, L.P. ("TRV GP IV"). The general partner of TRV GP IV is TRV GP IV, LLC ("TRV GP IV LLC"). Each of TRV GP IV and TRV GP IV LLC disclaims beneficial ownership of the shares except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that it is the beneficial owner of such shares. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.00 to $7.14, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2).
