Catinazzo Thomas 4

What Happened
Thomas Catinazzo, Chief Financial Officer of Relay Therapeutics (RLAY), exercised stock options and sold shares on June 22, 2026. The filing shows option exercises that acquired roughly 169,446 shares at exercise prices between $4.45 and $5.22 (total cash paid ≈ $834,669). He also sold a total of 187,163 shares in open-market transactions the same day for aggregate gross proceeds of about $3,176,864. The net cash difference (proceeds minus exercise costs) was roughly $2.34M before taxes and fees. Several derivative-conversion line items are reported at $0.00, reflecting option/derivative settlement reporting in the Form 4.

Key Details

• Transaction date: June 22, 2026; Form 4 filed June 24, 2026 (timely — within Form 4 reporting window).
• Sales (open market/private sale, code S):
  • 17,717 shares @ $17.01 = $301,366 (includes 9,807 shares underlying RSUs per footnote F3)
  • 56,323 shares @ weighted avg $16.97 = $955,801 (sales executed across $16.38–$17.28; F2)
  • 61,563 shares @ weighted avg $16.97 = $1,044,724 (sales executed across $16.15–$17.39; F4)
  • 51,560 shares @ $16.97 = $874,973
  • Total shares sold: 187,163; total proceeds ≈ $3,176,864.
• Exercises (derivative exercise, code M):
  • 56,323 shares @ $5.04 = $283,868
  • 61,563 shares @ $5.22 = $321,359
  • 51,560 shares @ $4.45 = $229,442
  • Total exercised (non-zero strike): 169,446 shares; total cash paid ≈ $834,669.
• Additional derivative entries reported at $0.00 correspond to option conversions/settlements (same share counts reported as derivative dispositions).
• Sales were effected under a pre-existing Rule 10b5-1 trading plan adopted October 30, 2025 (F1).
• Vesting/option background: filing includes footnotes on vesting schedules and earlier option grants (F5–F7).
• Shares owned after transaction: not specified in the excerpt of the filing provided.

Context and what it means for investors

• This was essentially a cashless exercise and sell sequence: the CFO exercised options (paid strikes) and sold shares the same day. That pattern is common for executives monetizing vested option value and does not, by itself, indicate a change in view on the company.
• The sales were made under a Rule 10b5-1 plan, meaning they were pre‑planned trades executed according to the plan’s parameters.
• Purchases (options exercised) show continued realization of compensation; the larger market signal typically comes from outright open-market purchases by insiders, which are not present here.