Third Rock Ventures V, L.P. 4
4 · Rapport Therapeutics, Inc. · Filed May 11, 2026
Research Summary
AI-generated summary of this filing
Rapport Therapeutics (RAPP) - Third Rock Ventures V Sells Shares
What Happened
Third Rock Ventures V, L.P. (a reported 10% owner) sold a total of 276,513 shares of Rapport Therapeutics (RAPP) in two dispositions. On 2026-05-07 it sold 271,495 shares at a weighted average price of $40.12 for proceeds of $10,892,651 (prices in that batch ranged $40.00–$40.60). On 2026-05-08 it sold 5,018 shares at a weighted average price of $40.31 for proceeds of $202,256 (prices in that batch ranged $40.10–$40.80). Total proceeds were about $11.095 million. These were sales (code S) — typically routine liquidity by an institutional holder rather than a corporate insider purchase.
Key Details
- Transaction dates: 2026-05-07 (271,495 shares) and 2026-05-08 (5,018 shares).
- Prices: weighted averages reported ($40.12 and $40.31); underlying per-share ranges given in footnotes.
- Total shares sold: 276,513; total proceeds: $11,094,907 ($11.095M).
- Plan/authorization: Transactions executed pursuant to a Rule 10b5-1 plan dated November 21, 2025 (Footnote F1).
- Ownership structure: Shares held directly by Third Rock Ventures V, L.P.; related GP entities disclaim beneficial ownership except to their pecuniary interest (Footnotes F3, F5). Reporting person disclaims existence of a Section 13(d) group between certain related funds.
- Filing timeliness: Form 4 filed 2026-05-11 for transactions on 2026-05-07 and 05-08 — appears timely (filed within required business-day window).
- Shares owned after transaction: Not specified in the provided filing excerpt.
Context
This is institutional selling by a major investor operating under a pre-arranged 10b5-1 plan, which is designed to permit scheduled trades regardless of later company developments. Such sales are generally treated as liquidity actions by the holder and are not, by themselves, a direct signal about management’s view of the company.
Insider Transaction Report
- Sale
Common Stock
[F1][F2][F3]2026-05-07$40.12/sh−271,495$10,892,651→ 6,437,733 total - Sale
Common Stock
[F1][F4][F3]2026-05-08$40.31/sh−5,018$202,256→ 6,432,715 total
- 969,218(indirect: By Third Rock Ventures VI, L.P.)
Common Stock
[F5]
Footnotes (5)
- [F1]The reported transactions were effected pursuant to a Rule 10b5-1 trading plan dated November 21, 2025, previously adopted by the Reporting Person.
- [F2]The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.00 to $40.60, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2).
- [F3]These shares are directly held by Third Rock Ventures V, L.P. ("TRV V"). The general partner of TRV V is Third Rock Ventures GP V, L.P. ("TRV GP V"). The general partner of TRV GP V is TRV GP V, LLC ("TRV GP V LLC"). Each of TRV GP V and TRV GP V LLC disclaims beneficial ownership of the shares except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that it is the beneficial owner of such shares.
- [F4]The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.10 to $40.80, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (4).
- [F5]The shares are held directly by Third Rock Ventures VI, L.P. ("TRV VI"). The general partner of TRV VI is Third Rock Ventures GP VI, L.P. ("TRV GP VI"). The general partner of TRV GP VI is TRV GP VI, LLC ("TRV GP VI LLC"). Each of TRV GP VI, and TRV GP VI LLC, disclaims beneficial ownership of these shares except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that it is the beneficial owner of such shares. Each of Reporting Persons disclaims the existence of a Section 13(d) "group" as between any TRV V related parties and any TRV VI related parties and this report shall not be deemed an admission that any of such parties is or may be part of such a group with any of the other parties.