Crystal Adam 4

What Happened

• Crystal Adam, President, Research & Development at Tango Therapeutics, exercised 12,000 stock options on March 25, 2026 at $5.20 per share (cost $62,400) and sold the 12,000 shares in the open market the same day for a weighted-average price of $20.11, generating roughly $241,320. The filing also records a related derivative conversion/disposition for 12,000 shares with no cash proceeds, reflecting the exercise/conversion mechanics.

Key Details

• Transaction date: March 25, 2026
• Option exercise: 12,000 shares at $5.20/share — total cash paid $62,400
• Open-market sale: 12,000 shares at weighted-average $20.11 — proceeds ~$241,320; sale prices ranged $20.00–$20.27 (per footnote)
• Derivative line: 12,000-share conversion/disposition reported at $0 (reflects option conversion mechanics)
• Shares owned after transaction: not disclosed in this filing
• Footnotes: trades were executed under a Rule 10b5-1 trading plan adopted Oct 27, 2025; vesting schedule for the option is a 4-year schedule (25% on Feb 27, 2024, then monthly over 36 months)
• Filing timing: Reported on Form 4 filed Mar 27, 2026 for transactions on Mar 25, 2026 (appears timely)

Context

• Because the options were exercised and the resulting shares were sold the same day, this is effectively a cashless exercise (exercise followed by immediate sale), commonly used to cover exercise costs and taxes rather than a long-term buy signal. The presence of a 10b5-1 plan indicates the sale was pre-planned; the filing is factual and does not state the insider’s reasons.