HENDERSON MICHAEL THOMAS 4

What Happened
Michael Thomas Henderson, Chief Executive Officer of Apogee Therapeutics, sold a total of 20,000 shares of APGE stock in open-market transactions on March 11, 2026. The three reported dispositions were: 8,363 shares at a weighted average price of $74.29 ($621,287), 8,219 shares at $74.83 ($615,028), and 3,418 shares at $75.86 ($259,289), for combined gross proceeds of about $1,495,604 (≈ $74.78 per share). These were sales (code S), not purchases.

Key Details

• Transaction date: March 11, 2026; Form 4 filed March 13, 2026 (appears timely).
• Total shares sold: 20,000; total proceeds: ~$1.50 million.
• Reported per-lot details and footnotes:
  • F1: Transactions executed pursuant to a Rule 10b5-1 trading plan adopted August 13, 2025.
  • F2–F4: Each reported price is a weighted average for multiple trades; price ranges reported were $73.525–$74.520, $74.525–$75.400, and $75.585–$76.480 respectively. The filer offers to provide breakdowns by individual trade price on request.
• Shares owned after the transactions: not specified in the provided filing excerpt.

Context
Sales executed under a pre-established 10b5-1 plan are generally considered routine because the plan sets terms in advance; they do not necessarily indicate a change in the insider’s view of the company. For retail investors, purchases typically carry clearer signals of insider confidence than routine sales; these filings are primarily disclosure of insider liquidity.