Crystal Adam 4

What Happened
Crystal Adam, President of R&D at Tango Therapeutics (TNGX), exercised 27,000 option shares at $5.20 per share and then sold all 27,000 shares in two open‑market transactions on July 1, 2026. Sales: 19,629 shares at a weighted average $29.34 for $575,962, and 7,371 shares at a weighted average $30.25 for $222,946 — total gross proceeds about $798,908. The exercise cost was $140,400 (27,000 × $5.20), so gross proceeds minus exercise cost ≈ $658,508. The Form 4 was filed July 2, 2026.

Key Details

• Transaction date: July 1, 2026; Form 4 filed July 2, 2026 (no late filing indicated).
• Option exercise: 27,000 shares acquired at $5.20 (total $140,400).
• Open‑market sales: 19,629 shares @ weighted avg $29.34 (proceeds $575,962); 7,371 shares @ weighted avg $30.25 (proceeds $222,946). Total sales ≈ $798,908.
• Sales price ranges (per filing footnotes): first block $28.715–$29.71; second block $29.72–$30.65.
• Reporting footnote: Trades were executed under a Rule 10b5‑1 trading plan adopted October 27, 2025.
• Derivative reporting: filing shows a derivative "disposed" entry at $0 — consistent with conversion/exercise reporting when options are exercised and shares are issued.
• Shares owned after the transactions: not disclosed in the provided excerpt.
• Vesting note: the option referenced vests over four years (25% on Feb 27, 2024, then monthly over 36 months).

Context
Because the shares from the option exercise were sold the same day in prearranged open‑market trades, this is effectively a cashless exercise and sale transaction rather than a long‑term purchase position. The trades were implemented under a 10b5‑1 plan, which is a preplanned schedule that executives commonly use to avoid claims of opportunistic timing; it does not, by itself, indicate the insider’s view on the company.