Schwabish Marc 4

What Happened

• Marc Schwabish, Chief Business Officer of Tectonic Therapeutic (TECX), reported the exercise of stock option(s) on February 10, 2026. The filing shows an acquisition of 4,500 shares at an exercise price of $2.38 per share (total cash cost $10,710).
• The same filing also reports a simultaneous disposition of 4,500 derivative-linked shares (reported as a derivative disposition). The filing does not state a sale price or whether shares were sold in the open market; it simply reports both the exercise (code M) and a related derivative disposition.

Key Details

• Transaction date: February 10, 2026.
• Exercise detail: 4,500 shares acquired at $2.38 each (total $10,710); disposition of 4,500 derivative shares reported same date.
• Shares owned after transaction: not specified in the Form 4 filing.
• Footnotes:
  • F1: Original option vests 25% on March 15, 2022, then monthly over 36 months, subject to continued service.
  • F2: The options were received in exchange for a prior stock option pursuant to a merger (see Form 4 filed June 24, 2024).
• Filing timeliness: Reported on Feb 12, 2026 for a Feb 10, 2026 transaction (appears timely).

Context

• This was an option exercise (transaction code M). The simultaneous derivative disposition could reflect a sell-to-cover, net share settlement, or other post-exercise handling, but the Form 4 does not detail the mechanism or proceeds, so no inference on intent should be made.
• For retail investors: option exercises create or transfer underlying shares but do not necessarily indicate buying for investment purposes; the lack of a disclosed sale price means this is not clearly an open-market sale.