Tango Therapeutics President Crystal Adam Exercises Options, Sells Shares

What Happened
Crystal Adam, President, R&D at Tango Therapeutics (TNGX), exercised 27,000 stock options at $5.20 per share (cost $140,400) on 2026-08-03 and sold a total of 27,000 shares in two open-market transactions the same day for combined proceeds of approximately $735,517. The sales were executed under a Rule 10b5-1 trading plan (adopted Oct 27, 2025). This sequence — exercise followed by sale — is commonly a cashless exercise/sell-to-cover pattern rather than a straightforward buy signal.

Key Details

• Transaction date: August 3, 2026; Form 4 filed August 5, 2026 (timely within the usual two-business-day window).
• Option exercise (code M): 27,000 shares acquired at $5.20 each = $140,400. A related derivative line shows 27,000 shares disposed at $0.00 (reporting of conversion/surrender of the derivative).
• Open-market sales (codes S): 5,267 shares at a weighted average $26.79 (reported range $26.17–$27.16) = $141,100; 21,733 shares at a weighted average $27.35 (reported range $27.17–$27.78) = $594,417. Total sales ≈ $735,517.
• Net cash difference (sales proceeds minus exercise cost) ≈ $595,117 (before fees/taxes).
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Footnotes: F1 = sales effected under a Rule 10b5-1 plan (10/27/2025). F2/F3 = weighted average sale prices with price ranges; detailed per-price breakdown available on request. F4 = underlying option vesting schedule (25% Feb 27, 2024, then monthly over 36 months).

Context
Because the exercise and sales occurred the same day and the sales were under a pre-established 10b5-1 trading plan, these transactions are typically considered routine (e.g., sell-to-cover or cashless exercise) rather than a fresh directional vote by the insider. The filing is factual and does not reveal the insider’s motive.