Crystal Adam 4
4 · Tango Therapeutics, Inc. · Filed May 5, 2026
Research Summary
AI-generated summary of this filing
Tango (TNGX) President R&D Crystal Adam Exercises Options, Sells Shares
What Happened
Crystal Adam, President of R&D at Tango Therapeutics (TNGX), exercised 27,000 option shares and immediately sold the resulting 27,000 common shares on May 1, 2026. The exercise cost was $5.20 per share (total $140,400). The sales consisted of 25,900 shares at a weighted average price of $21.19 ($548,901) and 1,100 shares at $22.00 ($24,196), for combined sale proceeds of $573,097. Net proceeds before taxes/fees were about $432,697 (sales minus exercise cost). The filing shows the derivative conversion entry related to the exercise.
Key Details
- Transaction date: May 1, 2026; Form 4 filed May 5, 2026 (filed 4 days after transaction; may be later than the typical 2-business-day requirement).
- Exercise: 27,000 shares at $5.20 = $140,400 (code M).
- Sales: 25,900 shares at weighted avg $21.19 = $548,901 (prices ranged $20.79–$21.755 per footnote F3); 1,100 shares at $22.00 = $24,196 (prices ranged $21.80–$22.20 per footnote F4).
- Net cash (sales less exercise cost): ~$432,697 (approximate; excludes fees/taxes).
- Shares owned after the transaction: Not specified in the provided excerpt.
- Notable footnotes: trades were effected pursuant to a Rule 10b5-1 trading plan adopted Oct 27, 2025 (F1); filing notes prior ESPP acquisition of 3,121 shares (F2); sales price ranges provided per F3/F4; option vesting schedule referenced (F5).
Context
This appears to be a cashless exercise (exercise followed by immediate sale of the shares) executed under a prearranged 10b5-1 plan, which is common for insiders who want to automate trades and reduce potential insider-trading timing concerns. Such sales are often routine and do not by themselves indicate the insider’s view of the company’s long-term prospects.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-05-01$5.20/sh+27,000$140,400→ 142,743 total - Sale
Common Stock
[F1][F3]2026-05-01$21.19/sh−25,900$548,901→ 116,843 total - Sale
Common Stock
[F1][F4]2026-05-01$22.00/sh−1,100$24,196→ 115,743 total - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F5]2026-05-01−27,000→ 368,040 totalExercise: $5.20Exp: 2033-03-01→ Common Stock (27,000 underlying)
Footnotes (5)
- [F1]These transactions were effected by the Reporting Person pursuant to a Rule 10b5-1 trading plan adopted on October 27, 2025.
- [F2]Includes 3,121 shares that were acquired on November 1, 2025 pursuant to the Tango Therapeutics, Inc. 2021 Employee Stock Purchase Plan in a transaction that was exempt under both Rule 16b-3(d) and Rule 16b-3(c).
- [F3]Represents the weighted average sales price per share. The shares sold at prices ranging from $20.79 to $21.755 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
- [F4]Represents the weighted average sales price per share. The shares sold at prices ranging from $21.80 to $22.20 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
- [F5]This option shall vest and become exercisable over a four-year period, at a rate of 25% on February 27, 2024, with the remaining option shares vesting in 36 equal monthly installments thereafter.