Apogee (APGE) Director Mark McKenna Sells Shares in Merger

What Happened
Mark C. McKenna, a director of Apogee Therapeutics (APGE), disposed of a total of 202,488 equity interests on September 3, 2026 in connection with the company’s merger with AbbVie. That total includes 20,000 shares of Apogee common stock and 182,488 option-related units that were cashed out under the Merger Agreement. The announced per-share merger consideration was $135.11; the 20,000 common shares alone equal $2,702,200, and a simple pro forma valuation of all 202,488 units at $135.11 is about $27.36 million. The option-related items were settled for cash equal to the excess of the $135.11 merger price over each option’s exercise price (footnote F3).

Key Details

• Transaction date: 2026-09-03 (reported same day). Transaction code: D (Disposition to issuer).
• Reported items: 20,000 common shares; 150,000 + 10,370 + 14,461 + 7,657 = 182,488 option-related units. Total disposed = 202,488.
• Merger consideration: $135.11 per share (applies to common stock; options were cashed out for the difference between $135.11 and their strike prices).
• Value: 20,000 shares × $135.11 = $2,702,200; pro forma value of all units at $135.11 ≈ $27.36M (actual cash from options depends on their exercise prices).
• Footnotes: F1 = disposals pursuant to the June 18, 2026 Merger Agreement with AbbVie; F2 = options were vested as of or became vesting in connection with the merger; F3 = each option was cashed out for the excess of $135.11 over the exercise price.
• Shares owned after transaction: not specified in the filing.
• Timeliness: filing covers transactions and was reported with the Form 4 dated 2026-09-03 (no late filing indicated).

Context
This was a merger-related disposition (company takeover cash-out), not an open-market sale. For the option items, the filing describes a cash settlement rather than a typical exercise-and-hold: options were converted to cash payments equal to the difference between the merger price and the option strike (a cash-out). Such merger-driven dispositions are routine in M&A deals and do not necessarily signal the insider’s ongoing view of the stock.