Gerard Michael 4

What Happened

• Gerard Michael, General Counsel of Cabaletta Bio, was granted a derivative award of 175,000 shares (transaction code A) reported on Form 4 dated 2026-03-02. The filing shows an acquisition of 175,000 shares at $0.00 (reported value $0).
• This is a compensation grant (derivative security such as options or RSUs), not an open-market purchase or a sale.

Key Details

• Transaction date and price: 2026-03-02; 175,000 shares; $0.00 per share; transaction type A (grant/award).
• Shares owned after transaction: not specified in the filing.
• Footnote: 25% of the shares underlying this option vest on March 1, 2027, with the remainder vesting in twelve substantially equal quarterly installments thereafter, subject to continued service.
• Filing timeliness: Filed same day as the reported transaction date (no late filing indicated).

Context

• This was an award/grant of derivative securities — not an exercise or sale. The recipient cannot fully realize value until vesting (and, if options, exercise) occurs; future Form 4s will report exercises or sales when they happen.
• Awards are typically compensation-related and do not by themselves signal immediate insider buying or selling activity.