Fenton Mary Kay 4

What Happened
Mary Kay Fenton, Cullinan Therapeutics' Chief Financial Officer, acquired 1,541 shares of Cullinan common stock on June 30, 2026. The shares were purchased at an effective price of $8.60 per share for a total cost of $13,253. This was a purchase under the company’s Employee Stock Purchase Plan (ESPP), so it represents a buy (not a sale).

Key Details

• Transaction date: 2026-06-30; Form 4 filed 2026-07-02 (appears filed within the normal 2-business-day window).
• Transaction type/code: Purchase via ESPP (reported as Grant, award or other acquisition — code A in this filing).
• Price and amount: 1,541 shares at $8.60 per share, total $13,253.
• Shares owned after transaction: Not disclosed in the Form 4 filing.
• Footnotes: (F1) Purchase was made pursuant to the 2021 ESPP for the Jan 1–Jun 30, 2026 purchase period and is exempt under Rule 16b-3(c). (F2) Purchase price was based on 85% of the closing price on Jan 2, 2026.

Context
ESPP purchases are common for employees and are typically made using accumulated payroll contributions and a pre-set discount (here, 85% of a reference closing price). Because this was an ESPP purchase and exempt under Rule 16b-3(c), it’s a routine employee buy and not evidence of any immediate sale or hedging. Purchases by executives can be viewed as a modest insider buy signal, but the ESPP mechanism (discounted automatic purchases) should be considered when interpreting the trade.