Gerard Michael 4
4 · Cabaletta Bio, Inc. · Filed May 19, 2025
Insider Transaction Report
Form 4
Gerard Michael
General Counsel
Transactions
- Disposition to Issuer
Stock Option (Right to Buy)
2025-05-19−100,000→ 0 totalExercise: $10.93Exp: 2031-08-31→ Common Stock (100,000 underlying) - Award
Stock Option (Right to Buy)
2025-05-19+100,000→ 100,000 totalExercise: $1.92Exp: 2031-08-31→ Common Stock (100,000 underlying) - Award
Stock Option (Right to Buy)
2025-05-19+75,000→ 75,000 totalExercise: $1.92Exp: 2032-01-17→ Common Stock (75,000 underlying) - Award
Stock Option (Right to Buy)
2025-05-19+112,500→ 112,500 totalExercise: $1.92Exp: 2033-01-17→ Common Stock (112,500 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2025-05-19−75,000→ 0 totalExercise: $3.21Exp: 2032-01-17→ Common Stock (75,000 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2025-05-19−112,500→ 0 totalExercise: $11.09Exp: 2033-01-17→ Common Stock (112,500 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2025-05-19−100,000→ 0 totalExercise: $23.97Exp: 2034-02-28→ Common Stock (100,000 underlying) - Award
Stock Option (Right to Buy)
2025-05-19+100,000→ 100,000 totalExercise: $1.92Exp: 2034-02-28→ Common Stock (100,000 underlying)
Footnotes (3)
- [F1]On May 15, 2025, the Issuer's board of directors approved an option repricing (the "Repricing"), to be effective May 19, 2025 (the "Repricing Date"). All of the other terms of the options remain unchanged. Such transactions were exempt pursuant to Rule 16b-6(d) and Rule 16b-3 of the Exchange Act, as applicable.
- [F2]This stock option award was issued pursuant to the Cabaletta Bio, Inc. 2018 Stock Option and Incentive Plan, as amended (the "2018 Plan") or the Cabaletta Bio, Inc. 2019 Stock Option and Incentive Plan, as amended (the "2019 Plan"), as applicable, and becomes exercisable in accordance with the vesting schedule specified in the award agreement and as previously reported on applicable Form 4, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date.
- [F3]The exercise price of the option is $1.92 per share, representing the fair market value per share of the Issuer's Common Stock on the Repricing Date. Under the terms of the stock option award repricing, a repriced stock option award will revert to its original exercise price if exercised during the Retention Period. The "Retention Period", through which the Reporting Person must remain in service to the Issuer, commenced on the Repricing Date and ends upon the earliest of (i) the one-year anniversary of the Repricing Date, (ii) a Sale Event (as defined in the 2018 Plan and 2019 Plan, as applicable) and (iii) the termination of the Reporting Person's Service Relationship (as defined in the 2018 Plan and 2019 Plan, as applicable) due to the Reporting Person's death or disability.