McNamara Peter 4

What Happened

• Peter McNamara, Chief Scientific Officer of Tectonic Therapeutic (TECX), exercised stock options to acquire 2,715 shares (2,500 @ $2.38 and 215 @ $14.71; total cost reported ~$9,113) and sold a total of 6,262 shares in open‑market transactions (6,047 @ $30.00 = $181,410 and 215 @ $35.00 = $7,525; total proceeds ~$188,935). The exercises and sales occurred on March 6, 2026.
• This activity involved option exercises (derivative transactions) followed by open‑market sales. Sales are typically routine liquidity events; purchases (option exercises) can be viewed as acquiring shares but here were performed as part of the same set of transactions.

Key Details

• Transaction date: March 6, 2026; Form 4 filed March 9, 2026 (appears filed within required reporting window).
• Exercise details acquired: 2,500 shares at $2.38 ($5,950) and 215 shares at $14.71 ($3,163) — total acquired 2,715 shares.
• Sales details disposed: 6,047 shares at $30.00 ($181,410) and 215 shares at $35.00 ($7,525) — total sold 6,262 shares; combined sale proceeds ≈ $188,935.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes of interest:
  • F1: These exercises and sales were executed under a Rule 10b5‑1 trading plan adopted Nov 14, 2025 (pre‑planned trades).
  • F2/F4: Option grants referenced have multi‑year vesting schedules (vesting details provided in footnotes).
  • F3: Some options were received in exchange for options related to a prior merger (see referenced June 24, 2024 Form 4).
• Filing timeliness: Report filed March 9 for March 6 transactions — appears timely.

Context

• The sequence (exercise of options and contemporaneous sales) suggests a common pattern where an insider exercises vested options and sells shares for liquidity or to cover exercise costs/taxes. The 10b5‑1 plan note indicates these trades were pre‑planned rather than opportunistic.
• For retail investors: purchases (net buys) often carry more informational weight than routine sales; here the net effect is a larger sale than acquisition, and the trades were conducted under a pre‑arranged plan.