Crescent BioPharma (CBIO) CEO Joshua Brumm Sells Shares

What Happened Joshua T. Brumm, CEO of Crescent BioPharma (CBIO), sold a total of 9,447 shares in two open-market transactions to satisfy tax-withholding obligations tied to vested restricted stock units. On Sept. 16, 2026 he sold 1,610 shares at a weighted average price of $17.90 for proceeds of $28,819; on Sept. 18, 2026 he sold 7,837 shares at a weighted average price of $16.71 for proceeds of $130,956. Total proceeds were about $159,775. These were sales (routine tax-withholding), not purchases.

Key Details

• Transaction dates and prices:
  • 2026-09-16: 1,610 shares, weighted avg $17.90 (prices ranged $17.10–$19.17)
  • 2026-09-18: 7,837 shares, weighted avg $16.71 (prices ranged $16.15–$17.23)
• Total shares sold: 9,447; total proceeds: ~$159,775.
• Shares owned after the transactions: Not specified in the provided filing.
• Footnotes: Sales were automatic to satisfy tax withholding on RSUs (grants dated Dec 15, 2025 and Mar 17, 2025) and were executed pursuant to a Rule 10b5-1 trading plan adopted Feb 28, 2026 (footnotes F1 & F2).
• Filing timeliness: Form 4 filed Sept 18, 2026; transactions occurred Sept 16 and Sept 18 — filing appears timely (not marked late).
• Exhibit: Exhibit 24 — Power of Attorney included.

Context These sales were completed solely to cover tax obligations tied to RSU vesting and were made under a pre-established 10b5-1 plan, which is a common, non-discretionary mechanism executives use for withholding. Such tax-related disposals are routine and do not necessarily indicate the CEO’s view on the company’s outlook.