Tourmaline Bio SEC Filings

Tourmaline Bio (TRML): Director transaction tied to Novartis tender offer. On October 28, 2025, the reporting director’s 83,782 shares of common stock were disposed in connection with a completed cash tender offer at $48.00 per share.

The filing also reports outstanding employee stock options canceled for cash under the merger terms. Options with exercise prices of $9.46 (10,000 shares), $13.91 (10,000 shares), and $18.73 (16,800 shares) were converted into the right to receive cash equal to the per‑share spread over $48.00, without interest and subject to withholding. Following these transactions, reported beneficial ownership is 0.

Tourmaline Bio (TRML) director reported the tender and disposition of common stock in connection with the Novartis acquisition. On 10/28/2025, 518 shares of common stock were disposed pursuant to the Merger Agreement for $48.00 per share.

All outstanding stock options held by the reporting person were canceled at closing and converted into cash equal to the spread over the merger price, including options for 20,000 shares at $9.46, 10,000 shares at $13.91, and 16,800 shares at $18.73. Following these transactions, the reporting person reported 0 shares and 0 derivative securities beneficially owned.

Tourmaline Bio (TRML): Director Form 4 reflects cash-out from Novartis deal. On 10/28/2025, shares and options reported by a director were disposed of pursuant to a merger following a completed cash tender offer by Novartis AG at $48.00 per share.

The filing shows common stock positions, including indirect holdings by Qiming U.S. Healthcare funds, were tendered for cash at $48.00 per share. Stock options with exercise prices of $9.46 (20,000 options), $13.91 (10,000), and $18.73 (16,800) were canceled and converted into cash equal to the in‑the‑money amount based on the $48.00 merger consideration.

The reporting person’s direct and indirect holdings reported in this filing reflect completion of the transaction mechanics at the stated price.

Tourmaline Bio (TRML) director reports tender offer disposition. On 10/28/2025, a director reported the disposition of 88,281 shares of common stock pursuant to the Novartis transaction, at $48.00 in cash per share as stated in the merger terms. Following the transaction, the filer reported 0 shares beneficially owned.

Per the merger agreement, all outstanding unexercised stock options were canceled for cash equal to the in‑the‑money value. The filing lists two option grants—10,000 shares at a $13.91 exercise price and 16,800 shares at a $18.73 exercise price—both canceled on 10/28/2025 and converted into cash based on the $48.00 merger consideration.

Tourmaline Bio (TRML) director reported insider transactions tied to the Novartis acquisition. On October 28, 2025, shares were disposed pursuant to the Merger Agreement after Merger Sub completed a cash tender offer at $48.00 per share.

The filing shows disposition of 515,997 shares held directly and 431,939 shares held indirectly through KVP Capital, LP. In addition, stock options were canceled for cash per the agreement: 10,000 options at a $9.46 exercise price, 10,000 options at $13.91, and 16,800 options at $18.73. Each option converted into cash equal to $48.00 minus its exercise price, multiplied by the number of underlying shares, subject to tax withholding.

Tourmaline Bio (TRML) reported an insider transaction tied to its merger with Novartis AG. On October 28, 2025, a cash tender offer was completed in which each Tourmaline common share was exchanged for $48.00 in cash per share, as disclosed.

The filing reflects the Chief Regulatory Officer’s equity being settled under the merger terms. Restricted shares vested immediately prior to the effective time and were treated as common shares for the cash consideration. Outstanding, unexercised employee stock options were automatically canceled and converted into a cash right equal to the $48.00 consideration minus the option’s exercise price, multiplied by the number of underlying shares.

Tourmaline Bio (TRML) reported insider transactions tied to its acquisition by Novartis. On October 28, 2025, the CTO’s holdings were cashed out pursuant to the merger. The filing shows a disposition of 19,782 shares and a separate disposition of 3,152 shares, each treated under the merger terms at $48.00 per share.

All outstanding stock options were automatically canceled at closing and converted into cash equal to the spread over the merger price, covering options for 76,219, 46,774, and 58,000 underlying shares at exercise prices of $7.90, $9.46, and $17.00, respectively. Restricted shares became fully vested immediately prior to closing and were treated as common shares under the agreement.

Tourmaline Bio (TRML) reported insider transactions tied to its merger with Novartis. On October 28, 2025, a cash tender offer closed at $48.00 per share, after which all common shares held by the reporting officer were disposed for cash and all stock options were canceled for cash based on their in-the-money value.

The officer tendered 60,988 shares of common stock and an additional 8,213 shares that vested immediately prior to the effective time, each exchanged for $48.00 per share. Three option grants covering 124,991, 46,774, and 58,000 underlying shares, with exercise prices of $7.90, $9.46, and $17.00, were canceled and converted into a cash right equal to the merger price minus the exercise price, multiplied by the underlying shares.

Tourmaline Bio (TRML) — Form 4 reports merger-related transactions. The company’s CFO reported the tender and disposition of 14,366 shares of common stock in connection with the completed cash tender offer by Novartis, receiving $48.00 per share pursuant to the Merger Agreement.

Outstanding employee stock options were automatically canceled at closing and converted to a cash right equal to the difference between $48.00 and the option’s exercise price, multiplied by the underlying shares. Reported option blocks included: 25,845 shares at $13.92, 16,000 shares at $9.46, 76,400 shares at $14.21, and 58,000 shares at $17.00. The tender offer was completed on October 28, 2025 under a Merger Agreement dated September 8, 2025.