EVNIN LUKE 4

What Happened
Luke Evnin, a director of Werewolf Therapeutics, sold a total of 171,049 shares in three open‑market transactions between May 18–20, 2026, generating approximately $76,364 in gross proceeds. Breakdown by date: May 18 — 22,184 shares at a weighted avg $0.50 (≈ $11,092); May 19 — 62,970 shares at a weighted avg $0.45 (≈ $28,337); May 20 — 85,895 shares at a weighted avg $0.43 (≈ $36,935). These were sales (not purchases) and were effected pursuant to a Rule 10b5‑1 trading plan dated March 26, 2026.

Key Details

• Transaction dates & reported weighted averages:
  • 2026-05-18: 22,184 shares, $0.50 (range $0.4931–$0.5059; see filing)
  • 2026-05-19: 62,970 shares, $0.45 (range $0.4243–$0.50)
  • 2026-05-20: 85,895 shares, $0.43 (range $0.40905–$0.4455)
• Total sold: 171,049 shares for ≈ $76,364.
• Shares held after each date (across affiliated entities listed in the filing):
  • After 5/18: 1,104,312 shares
  • After 5/19: 1,041,342 shares
  • After 5/20: 955,447 shares
• Sales were executed by affiliated investment vehicles (AM LLC, BV 2014, BV 2014(B), AM BV2014, MPM OIF); Evnin is a member/manager of those entities and disclaims beneficial ownership except to the extent of his pecuniary interest (see filing).
• Notable: Transactions were made under a 10b5‑1 plan (dated March 26, 2026). Reported prices are weighted averages; the filing offers per‑trade price breakdowns on request. Filing dated May 20, 2026 — appears timely for trades occurring May 18–20.

Context
These were routine sales under a prearranged 10b5‑1 plan and were executed by investment entities affiliated with Evnin rather than direct open‑market sales from a personal brokerage account. Sales do not necessarily signal management views on company prospects; purchases generally carry more informational weight for investors.