Morris Shannon 4

What Happened Morris Shannon, Chief Medical Officer of Erasca, exercised 20,000 options on March 4, 2026 at a strike price of $1.70 (cost $34,000) and sold 20,000 shares the same day in an open-market transaction at a weighted-average price of $15.04 for gross proceeds of about $300,760. The sale was effected under a pre-established Rule 10b5-1 trading plan. The Form 4 also lists an earlier 2025-03-04 derivative conversion/exercise of 20,000 shares reported with $0 consideration.

Key Details

• Transaction dates: March 4, 2026 (exercise and sale); prior entry noted 2025-03-04 (derivative conversion).
• Exercise: 20,000 shares at $1.70 = $34,000 paid.
• Sale: 20,000 shares at weighted-average $15.04 = ~$300,760 gross proceeds; prices in the sales ranged $15.00–$15.10 (per footnote).
• Shares owned after transaction: not disclosed in the provided details of this summary.
• Footnotes: (F1) Transactions executed under a Rule 10b5-1 plan adopted June 30, 2024; (F2) sale price is a weighted average, with individual trade prices available on request; (F3) option awards vest 1/48th monthly beginning Feb 1, 2024, subject to continued service.
• Filing timeliness: Form 4 filed March 6, 2026 for transactions on March 4, 2026 — filed promptly (not reported late).

Context Because Shannon exercised options and sold the same number of shares on the same day, this effectively functions as a cashless exercise followed by an immediate disposition under the 10b5-1 plan. Sales under 10b5-1 plans are typically scheduled and routine; they are disclosure of a transaction, not an explanation of motivation. Purchases generally convey more direct insider conviction; this filing documents a planned liquidation of vested/vestable equity.