Binder Gwendolyn 4

What Happened
Gwendolyn Binder, a director of Instil Bio, was granted a 6,500-share equity award (reported as a derivative option) on 2026-06-11. The acquisition price is reported as $0. This is a grant of an award rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-11; Form 4 filed 2026-06-12 (timely filing).
• Transaction type/code: A (award/grant of a derivative instrument).
• Shares/units granted: 6,500 shares (derivative option); acquisition price reported as $0.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote: The option vests in 12 substantially equal monthly installments beginning July 11, 2026, subject to Continuous Service. Any portion unvested by the next annual meeting will vest in full (subject to service). The option also vests in full upon death, Disability, or a Change in Control.

Context
This was a compensation equity grant to a director, which is common and intended for retention/incentive. Such awards are different from open-market buys (which some investors view as a stronger positive signal) and do not reflect an immediate cash investment by the insider.