Summit Therapeutics (SMMT) CEO Mahkam Buys 3.81M Shares

What Happened
Zanganeh Mahkam, CEO of Summit Therapeutics, reported an open-market purchase of 3,810,000 shares at $13.12 per share on 2026-06-12, for a total transaction value of $49,987,200. This was a direct purchase (transaction code P) rather than a sale or option exercise.

Key Details

• Transaction date: 2026-06-12; Price: $13.12 per share; Shares acquired: 3,810,000; Total value: $49,987,200.
• Transaction type/code: P (purchase) — open market or private purchase.
• Shares owned after transaction: Not specified in the Form 4 filing.
• Footnote: The reporting person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest (per footnote F1).
• Filing timeliness: Form 4 was filed covering the transaction dated 2026-06-12 (no late filing indicated).

Context
This report documents a sizable insider purchase, which investors often view as a notable insider buy, but the filing does not state motive. The filing is a straight equity purchase (not an option exercise, gift, or tax-related withholding).