Cue Biopharma (CUE) Ray Sumita, Chief Legal Compliance Officer, Exercises PSUs & Sells Shares

What Happened

• Ray Sumita, Chief Legal Compliance Officer and Corporate Secretary of Cue Biopharma, had 18,196 performance stock units (PSUs) settle on Aug 13, 2026 (converted to common shares at $0.00).
• On the same date, Sumita sold 8,829 of those shares in three block trades to satisfy tax-withholding obligations, generating approximately $265,629 in proceeds (breakdown below). Net result: +18,196 shares acquired, -8,829 sold, net increase of 9,367 shares retained.

Key Details

• Transaction date: August 13, 2026; Form 4 filed August 17, 2026 (appears timely).
• Sales (all “S”):
  • 2,383 shares at $29.37 (weighted avg; proceeds $69,989) — block trade prices ranged $28.97–$29.96 (F2).
  • 6,442 shares at $30.35 (weighted avg; proceeds $195,515) — block trade prices ranged $29.99–$30.97 (F3).
  • 4 shares at $31.13 (proceeds $125).
  • Total sale proceeds ≈ $265,629.
• Acquisition (code “M” for exercise/conversion): 18,196 shares acquired at $0.00 (PSU settlement).
• Net shares retained from the settlement: 9,367 (18,196 acquired − 8,829 sold).
• Shares owned after transaction: not specified in the provided filing data.
• Footnotes:
  • F1: Sales were “sell-to-cover” to satisfy tax withholding; not discretionary trading.
  • F2/F3: Reported prices for two block trades are weighted averages; full price breakdowns are available on request (per filing).
  • F4: The PSUs settled represent 1/3 of an award with additional tranches (2/3) subject to future stock-price based vesting targets ($38.50 and $44.00 for five consecutive trading days); if targets aren’t met within 24 months, remaining PSUs will be forfeited.

Context

• These transactions reflect a common “cashless” outcome when performance awards vest: shares are issued on settlement and a portion sold to cover taxes. Such sell-to-cover transactions are routine and generally do not by themselves indicate executive sentiment about the stock.
• No open-market purchases were reported; the primary activity was settlement of PSUs and related tax-cover sales.