Forte Biosciences (FBRX) Director Barbara K. Finck Sells Shares

What Happened
Barbara K. Finck, a director of Forte Biosciences, recorded dispositions of derivative securities (totaling 60,519 shares) on August 27, 2026. The Form 4 shows multiple "Disposition to the issuer (D)" entries for 2,000; 166; 1,000; 1,000; 7,000; 31,000; and 18,353 shares. Prices and cash amounts are listed as N/A on the Form 4 because these were settled under the Merger Agreement rather than open-market trades — derivative awards were cancelled or converted into lump-sum cash payments in connection with Forte’s merger with argenx BV.

Key Details

• Transaction date: August 27, 2026. Transaction code: D (Disposition to issuer). Form filed: August 27, 2026 (same day).
• Total derivative shares disposed: 60,519 (sum of all line items). Per-line prices/values are shown as N/A on the Form 4.
• Shares owned after transaction: Not specified on this Form 4; derivative awards were cancelled/converted per the Merger Agreement.
• Relevant footnotes from the filing:
  • Options with exercise price below $77.00 were converted into a lump-sum cash payment equal to (77.00 − exercise price) × number of option shares (F1).
  • Options with exercise price ≥ $77.00 were cancelled with no consideration (F2).
  • Each RSU represented a right to one share and was converted into a lump-sum cash payment equal to $77.00 × number of RSUs (F3, F4).
• Filing timeliness: Filed same day as the transaction (no late filing indicated).

Context
This was a merger-related settlement, not an open-market sale: outstanding RSUs and certain options were cashed out or cancelled per the July 26, 2026 Merger Agreement (argentx BV / Avena Merger Sub). Because the Form 4 reports the transactions as dispositions to the issuer with N/A amounts, exact cash proceeds for Ms. Finck aren’t shown on this report — the mechanics and payment formulas are described in the footnotes (see bullet above). Such conversions in an acquisition are routine and reflect contract terms rather than an insider trading signal.