Gault Cheryl 4

What Happened

• Cheryl Gault, Chief Operating Officer of Rapport Therapeutics (RAPP), sold a total of 9,000 common shares in open-market transactions on June 30, 2026, generating aggregate proceeds of approximately $415,799. The sales were executed in four groups: 1,900 shares at a $40.09 weighted avg ($76,174), 3,792 shares at $41.39 weighted avg ($156,964), 3,308 shares at $42.17 weighted avg ($139,506), and 1,000 shares at $43.15 weighted avg ($43,155). These are sales (not purchases), which are often routine dispositions rather than an explicit bullish signal.

Key Details

• Transaction date: 2026-06-30 (filed 2026-07-01; appears timely under Form 4 reporting rules).
• Lot-level weighted average prices and ranges:
  • 1,900 shares — $40.09 WAP (trades ranged $39.61–$40.58) — $76,174 (F2)
  • 3,792 shares — $41.39 WAP (trades ranged $40.80–$41.79) — $156,964 (F3)
  • 3,308 shares — $42.17 WAP (trades ranged $41.81–$42.75) — $139,506 (F4)
  • 1,000 shares — $43.15 WAP (trades ranged $42.81–$43.65) — $43,155 (F5)
• Total shares sold: 9,000; total proceeds: ~$415,799.
• Plan/authority: Transactions effected pursuant to a Rule 10b5-1 trading plan adopted December 10, 2025 (F1), indicating pre-scheduled sales.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Filing timeliness: Report filed 2026-07-01 for trades on 2026-06-30 (appears timely; no late-report flag noted).

Context

• Sales executed under a 10b5-1 plan are pre-arranged and generally intended to avoid trading on material non-public information; they are common for insiders managing diversification or liquidity needs. For retail investors, purchases typically carry more direct informational weight than routine insider sales.