Jennifer Michaelson - May 6, 2024 Form 4 Insider Report for Cullinan Therapeutics, Inc. (CGEM)

Role
Chief Scientific Officer
Signature
/s/ Jacquelyn Sumer, Attorney-in-Fact
Stock symbol
CGEM
Transactions as of
May 6, 2024
Transactions value $
-$1,557,570
Form type
4
Date filed
5/8/2024, 07:30 PM
Previous filing
Feb 23, 2024
Next filing
Jul 2, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CGEM Common Stock Options Exercise $215K +50K +36.34% $4.30 188K May 6, 2024 Direct
transaction CGEM Common Stock Sale -$1.05M -37.7K -20.11% $27.82 150K May 6, 2024 Direct F1, F2
transaction CGEM Common Stock Sale -$579K -20.3K -13.53% $28.54 130K May 6, 2024 Direct F1, F3
transaction CGEM Common Stock Options Exercise $24.1K +5.61K +4.33% $4.30 135K May 7, 2024 Direct
transaction CGEM Common Stock Sale -$169K -5.61K -4.15% $30.06 130K May 7, 2024 Direct F1, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CGEM Stock Option (Right to Buy) Options Exercise $0 -50K -26.51% $0.00 139K May 6, 2024 Common Stock 50K $4.30 Direct F5
transaction CGEM Stock Option (Right to Buy) Options Exercise $0 -5.61K -4.04% $0.00 133K May 7, 2024 Common Stock 5.61K $4.30 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Transaction effected pursuant to a plan established pursuant to Rule 10b5-1 on January 5, 2024.
F2 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $27.35 to $28.34. The Reporting Person undertakes to provide to the Issuer, any shareholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $28.35 to $28.84. The Reporting Person undertakes to provide to the Issuer, any shareholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $30.00 to $30.15. The Reporting Person undertakes to provide to the Issuer, any shareholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5 25% of the shares vested on July 4, 2020, and the remaining shares vest in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous service to the Issuer on each such date.