Mulay James 4

What Happened

• James Mulay, a director of CG Oncology (CGON), exercised options to acquire 15,600 shares at $36.63 per share (cost $571,428) and sold those 15,600 shares the same day at a weighted average price of $73.01, generating gross proceeds of $1,138,956. The transactions occurred on 2026-04-17 and were reported on the Form 4 filed 2026-04-20. The exercise-plus-sale effectively functions as a cashless exercise and immediate disposition; the filing also lists a related derivative conversion line recorded at $0.

Key Details

• Transaction date: 2026-04-17 (reported 2026-04-20)
• Exercise: 15,600 shares @ $36.63 = $571,428
• Sale: 15,600 shares @ weighted avg $73.01 = $1,138,956 (prices ranged $72.99–$73.04)
• Net difference (gross gain before taxes/fees): $567,528
• Shares owned after transaction: not specified in the provided excerpt
• Footnotes: Sales were made under a Rule 10b5-1 trading plan adopted 06/06/2025; sale price reported as a weighted average with range; options were fully vested
• Filing timeliness: reported within the standard Form 4 reporting window (filed 04/20/2026 for a 04/17/2026 transaction)

Context

• Exercising options and immediately selling the shares (a cashless exercise) is a common way for insiders to realize gains and cover exercise costs and tax obligations; such sales are often considered routine and do not necessarily signal a change in view on the company. The presence of a 10b5‑1 plan indicates the sales were pre-planned; the filing provides a separate line for a $0 derivative conversion but gives no extra detail in this excerpt.