Chang David J. 4

What Happened David J. Chang, Chief Medical Officer of Cabaletta Bio, was granted a derivative award for 225,000 shares on March 2, 2026. The grant is reported at an acquisition price of $0.00 (derivative award), meaning no cash was paid at grant. This is a compensation award rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-02; reported on Form 4 the same day (timely filing).
• Transaction type/code: Award/Grant (A) — 225,000 shares reported as derivative securities at $0.00.
• Vesting: Footnote F1 — 25% vests on March 1, 2027, with the remainder vesting in twelve substantially equal quarterly installments thereafter, subject to continued service.
• Shares owned after transaction: Not specified in this filing.
• No immediate sale or exercise reported; this is a grant subject to future vesting.

Context This filing reports a time- and service-based compensation award (common for executives). A derivative grant means the insider received rights to future company stock subject to vesting; it does not indicate an immediate market purchase or sale. As always, grants are routine for executive compensation and should be considered with broader insider activity and company fundamentals.