Tango Therapeutics, Inc. 8-K

What Happened
Tango Therapeutics, Inc. announced that its Board increased in size to eight members and effective January 2, 2026 appointed Sung H. Lee as a Class I director. Mr. Lee will serve until the 2028 annual meeting and the Board has determined he is independent under Nasdaq rules. The company furnished a press release on January 5, 2026 announcing the appointment.

Key Details

• Board size increased to 8 directors; Sung H. Lee fills the newly created seat effective Jan 2, 2026.
• Term: Class I director through the 2028 annual meeting (will stand for election then).
• Compensation: option to purchase 60,000 shares at an $8.93 exercise price + 10,000 restricted stock units (RSUs).
  • Option vests in 36 substantially equal monthly installments over 3 years; vesting stops if he leaves the Board.
  • RSUs vest in three equal annual installments over 3 years; vesting stops if he leaves the Board.
• Cash retainer: $40,000 annually.
• Company expects to enter its standard director indemnification agreement with Mr. Lee.
• The company reported no related-person transactions, family relationships, or other arrangements requiring Item 404 disclosure.

Why It Matters
This filing informs investors of a board-level governance change and the addition of an independent director, which can affect oversight and strategy. The direct compensation tied to equity (60,000 options + 10,000 RSUs = 70,000 potential shares) represents standard director pay and could modestly dilute existing shareholders if options are exercised and RSUs vest. There are no disclosed related-party concerns, and the appointment will be subject to shareholder vote at the 2028 annual meeting.