Louis Chrystal 4

What Happened

• Louis Chrystal, Chief Medical Officer of TScan Therapeutics (TCRX), was granted a derivative award representing 420,000 shares on January 20, 2026. The Form 4 reports an acquisition at $0.00 per share (derivative), indicating an option/award rather than an open-market purchase or sale. No immediate cash was exchanged and no shares were sold.

Key Details

• Transaction date: 2026-01-20; Form 4 filed: 2026-01-22 (appears timely).
• Reported amount: 420,000 shares; reported price per share: $0.00 (derivative award).
• Vesting: 25% vests on the one‑year anniversary of January 20, 2026; remaining 75% vests in equal monthly installments over the next 36 months, subject to continued service (per footnote).
• Shares owned after the transaction: not specified in the provided excerpt.
• Filing timeliness: filed two days after the grant date, generally within the Form 4 reporting window.

Context

• This is a compensatory derivative award (an option-type award that becomes exercisable over time), not an immediate purchase or sale. The vesting schedule means the economic interest is earned over four years, and any future exercise or sale would generate separate filings. Such grants are routine for executive compensation and do not by themselves indicate a near-term buy or sell decision.