Michaelson Jennifer 4

What Happened

• Jennifer Michaelson, Chief Scientific Officer of Cullinan Therapeutics (CGEM), received equity compensation on Feb 18, 2026: 57,500 restricted stock units (RSUs) and a grant of option-based awards covering 115,000 shares. Both awards show $0 per-share acquisition price at grant (standard for compensatory awards), so no cash was paid by the insider.

Key Details

• Transaction date: 2026-02-18; Form 4 filed 2026-02-19 (timely filing).
• RSUs: 57,500 shares granted, $0.00 per share. Footnote F1 — RSUs vest on an annual basis over four years.
• Options/derivative award: 115,000 shares granted, listed as a derivative acquisition at $0.00. Footnote F2 — option shares vest over four years, with 1/48th vesting monthly until the fourth anniversary.
• Shares owned after transaction: not specified in the excerpt of the filing provided.
• No tax‑withholding, cashless-exercise, 10b5-1 plan, or gift language disclosed in the provided notes.

Context

• These are compensatory grants (awards), not open-market purchases or sales, so they represent company compensation/retention rather than an immediate market bet by the insider. The options are subject to multi-year vesting; they do not represent exercised shares or immediate proceeds. Retail investors often view new grants as routine executive compensation and a retention tool rather than a near-term signal to buy or sell stock.