Bredt David 4

What Happened

• David Bredt, Chief Scientific Officer of Rapport Therapeutics (RAPP), reported multiple transactions. On Feb 17, 2026 he sold a total of 8,500 shares in open-market transactions for aggregate proceeds of about $246,655. On Feb 19, 2026 he exercised 6,000 stock options at a $1.80 strike (cash exercise = $10,800).
• The sales were executed under a pre-established Rule 10b5-1 trading plan (adopted Dec 12, 2024), indicating these were planned dispositions rather than ad hoc sales.

Key Details

• Sale dates/prices: Feb 17, 2026 — 900 shares @ $28.02 (≈ $25,219), 5,400 shares @ $28.95 (≈ $156,328), 2,200 shares @ $29.59 (≈ $65,108). Weighted-average reporting and price ranges noted in footnotes (approx. $27.39–$29.81 across lots).
• Option exercise: Feb 19, 2026 — exercised 6,000 options at $1.80 per share (cash paid ≈ $10,800). The Form also lists a related derivative disposition at $0; footnote clarifies this was a cash exercise and no shares were sold as part of that transaction.
• Shares owned after the transactions: not provided in the data excerpt.
• Notable footnotes: F1 = sales under a Rule 10b5-1 plan; F2–F4 = weighted-average prices with ranges and offer to provide per-price sell details; F5 = cash exercise (no sale of shares); F6 = option vesting schedule (25% vested Aug 7, 2024, remainder monthly over 36 months).
• Filing/timeliness: Report filed Feb 19, 2026 covering trades on Feb 17 and Feb 19; filing date appears consistent with Form 4 timing requirements based on provided dates.

Context

• The mixed activity is primarily sales (routine disposition via a 10b5-1 plan) plus an exercise of options at a low strike price. For retail investors: purchases or exercises can be more informative than sales, but here the sales were executed under a pre-set plan (F1). The exercise was a cash exercise per the filing (F5) — the Form’s separate zero-price derivative line is a reporting detail rather than a separate cash proceeds sale.