David J. Chang - 19 May 2025 Form 4 Insider Report for Cabaletta Bio, Inc. (CABA)

Role
Chief Medical Officer
Signature
By: /s/ Michael Gerard, as Attorney-in-Fact
Issuer symbol
CABA
Transactions as of
19 May 2025
Net transactions value
$0
Form type
4
Filing time
19 May 2025, 21:33:27 UTC
Previous filing
04 Mar 2025
Next filing
21 Jan 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Chang David J. Chief Medical Officer C/O CABALETTA BIO, INC., 2929 ARCH STREET, SUITE 600, PHILADELPHIA By: /s/ Michael Gerard, as Attorney-in-Fact 19 May 2025 0001790552

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 CABA Stock Option (Right to Buy) Disposed to Issuer $0 -185,709 -100% $0.000000 0 19 May 2025 Common Stock 185,709 $6.30 Direct F1, F2
transaction CABA Stock Option (Right to Buy) Award $0 +185,709 $0.000000 185,709 19 May 2025 Common Stock 185,709 $1.92 Direct F1, F2, F3
transaction CABA Stock Option (Right to Buy) Disposed to Issuer $0 -48,836 -100% $0.000000 0 19 May 2025 Common Stock 48,836 $11.00 Direct F1, F2
transaction CABA Stock Option (Right to Buy) Award $0 +48,836 $0.000000 48,836 19 May 2025 Common Stock 48,836 $1.92 Direct F1, F2, F3
transaction CABA Stock Option (Right to Buy) Disposed to Issuer $0 -38,238 -100% $0.000000 0 19 May 2025 Common Stock 38,238 $14.94 Direct F1, F2
transaction CABA Stock Option (Right to Buy) Award $0 +38,238 $0.000000 38,238 19 May 2025 Common Stock 38,238 $1.92 Direct F1, F2, F3
transaction CABA Stock Option (Right to Buy) Disposed to Issuer $0 -113,500 -100% $0.000000 0 19 May 2025 Common Stock 113,500 $11.47 Direct F1, F2
transaction CABA Stock Option (Right to Buy) Award $0 +113,500 $0.000000 113,500 19 May 2025 Common Stock 113,500 $1.92 Direct F1, F2, F3
transaction CABA Stock Option (Right to Buy) Disposed to Issuer $0 -135,000 -100% $0.000000 0 19 May 2025 Common Stock 135,000 $3.21 Direct F1, F2
transaction CABA Stock Option (Right to Buy) Award $0 +135,000 $0.000000 135,000 19 May 2025 Common Stock 135,000 $1.92 Direct F1, F2, F3
transaction CABA Stock Option (Right to Buy) Disposed to Issuer $0 -150,000 -100% $0.000000 0 19 May 2025 Common Stock 150,000 $11.09 Direct F1, F2
transaction CABA Stock Option (Right to Buy) Award $0 +150,000 $0.000000 150,000 19 May 2025 Common Stock 150,000 $1.92 Direct F1, F2, F3
transaction CABA Stock Option (Right to Buy) Disposed to Issuer $0 -130,000 -100% $0.000000 0 19 May 2025 Common Stock 130,000 $23.97 Direct F1, F2
transaction CABA Stock Option (Right to Buy) Award $0 +130,000 $0.000000 130,000 19 May 2025 Common Stock 130,000 $1.92 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 15, 2025, the Issuer's board of directors approved an option repricing (the "Repricing"), to be effective May 19, 2025 (the "Repricing Date"). All of the other terms of the options remain unchanged. Such transactions were exempt pursuant to Rule 16b-6(d) and Rule 16b-3 of the Exchange Act, as applicable.
F2 This stock option award was issued pursuant to the Cabaletta Bio, Inc. 2018 Stock Option and Incentive Plan (the "2018 Plan") or the Cabaletta Bio, Inc. 2019 Stock Option and Incentive Plan (the "2019 Plan"), as applicable, and becomes exercisable in accordance with the vesting schedule specified in the award agreement and as previously reported on applicable Form 4, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date.
F3 The exercise price of the option is $1.92 per share, representing the fair market value per share of the Issuer's Common Stock on the Repricing Date. Under the terms of the stock option award repricing, a repriced stock option award will revert to its original exercise price if exercised during the Retention Period. The "Retention Period", through which the Reporting Person must remain in service to the Issuer, commenced on the Repricing Date and ends upon the earliest of (i) the one-year anniversary of the Repricing Date, (ii) a Sale Event (as defined in the 2018 Plan and 2019 Plan, as applicable) and (iii) the termination of the Reporting Person's Service Relationship (as defined in the 2018 Plan and 2019 Plan, as applicable) due to the Reporting Person's death or disability.