Forte Biosciences (FBRX) Director David W. Gryska Sells 60,293 Shares in Merger

What Happened

• Director David W. Gryska disposed of a total of 60,293 shares on August 27, 2026 in connection with Forte Biosciences’ merger with argenx. The filing shows a 5,940-share disposition labeled a change-of-control tender and six derivative dispositions (options/RSUs) totaling 54,353 underlying shares. Per the merger agreement, each share was paid $77.00 in cash, so the aggregate cash consideration is approximately $4,642,561. This was a cash-out tied to the acquisition, not an open-market sale driven by trading intent.

Key Details

• Transaction date: 2026-08-27.
• Share breakdown in the filing: 5,940 shares (change of control, code U) and derivative dispositions to the issuer (code D) of 2,000; 1,000; 2,000; 31,000; and 18,353 shares (total derivatives = 54,353).
• Price: Merger Consideration = $77.00 per share (cash, net to seller, per Merger Agreement).
• Approximate total proceeds: $4,642,561.
• Shares owned after transaction: not specified in the provided filing detail.
• Footnotes: the dispositions reflect the Merger Agreement (tender offer followed by merger). Outstanding options with exercise prices below $77 were converted into cash equal to (Merger Consideration − strike) × shares; RSUs were converted into cash equal to $77 × RSU shares. Options with exercise prices ≥ $77 were cancelled for no consideration per the agreement.
• Filing timeliness: transaction and report date are both 2026-08-27; no late filing is indicated in the provided data.

Context

• This transaction is a routine cash conversion due to a corporate acquisition: shares and equity awards were cashed out under the merger terms rather than sold in the open market. For derivative items, the filing reflects cancellation/conversion mechanics (options/RSUs converted to cash per the Merger Agreement). Such merger-related dispositions are informational and reflect deal economics rather than an insider expressing a buy/sell view of the company's future.