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Werewolf Therapeutics, Inc.·4

May 26, 6:18 PM ET

EVNIN LUKE 4

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Werewolf Therapeutics (HOWL) Director Luke Evnin Sells Shares

What Happened

  • Luke Evnin, a director (and an MPM/MPM‑related manager/member — see footnotes), sold a total of 191,762 Werewolf Therapeutics (HOWL) shares in three open‑market transactions between May 21–26, 2026, for aggregate proceeds of $86,561. All transactions are reported as sales (code S) and were effected pursuant to a Rule 10b5‑1 trading plan dated March 26, 2026. These were disposals (not purchases), so they are generally considered routine plan‑based sales rather than a direct bullish signal.

Key Details

  • Transaction dates, counts, prices and proceeds:
    • 2026‑05‑21: 36,387 shares at $0.42, proceeds $15,283 (weighted avg price range reported: $0.4126–$0.4426). (See filing footnotes F2, F3, F11.)
    • 2026‑05‑22: 87,425 shares at $0.45, proceeds $39,341 (weighted avg price range reported: $0.42–$0.4614). (See F6, F7, F5.)
    • 2026‑05‑26: 67,950 shares at $0.47, proceeds $31,937 (weighted avg price range reported: $0.4436–$0.4826). (See F9, F10, F8.)
  • Shares reported held after each transaction (by entity, per filing footnotes):
    • After 5/21 (F11): AM LLC 81,820; BV 2014 516,606; BV 2014(B) 34,455; AM BV2014 17,779; MPM OIF 113,025. (Total reported = 763,685)
    • After 5/22 (F5): AM LLC 98,467; BV 2014 621,710; BV 2014(B) 41,465; AM BV2014 21,397; MPM OIF 136,021. (Total reported = 919,060)
    • After 5/26 (F8): AM LLC 89,100; BV 2014 562,571; BV 2014(B) 37,521; AM BV2014 19,361; MPM OIF 123,082. (Total reported = 831,635)
  • Notable filing points:
    • Transactions were executed under a Rule 10b5‑1 plan dated March 26, 2026 (footnote F1).
    • Reported prices are weighted averages and each sale was made in multiple trades; the filing gives price ranges and offers to provide per‑trade breakdowns on request (F3, F7, F10).
    • The sales were made by MPM‑related entities (AM LLC, MPM BioVentures 2014, BV 2014(B), AM BV2014, MPM OIF). Per the filing (F4), Luke Evnin is a member/manager of those entities and disclaims beneficial ownership except to the extent of his pecuniary interest.
    • Filing date: May 26, 2026; Period of report begins May 21, 2026.

Context

  • These sales were executed under a pre‑arranged 10b5‑1 plan. Such plan sales are typically automated and pre‑set and do not necessarily reflect the insider’s current view of the company.
  • The trades were by investment vehicles managed or affiliated with Evnin (not necessarily direct personal sales). The filing disclaims direct beneficial ownership except for pecuniary interest, which is common for managers of investment vehicles.
  • For retail investors: purchases are generally more informative about insider conviction than routine, plan‑based sales. The filing notes the weighted‑average price ranges; the filer will provide per‑trade price details to the company, shareholders, or SEC staff upon request.