Christian Cortis - Jun 20, 2024 Form 4 Insider Report for Tectonic Therapeutic, Inc. (TECX)

Role
Chief Operating Officer
Signature
/s/ Daniel Lochner, Attorney-in-Fact
Stock symbol
TECX
Transactions as of
Jun 20, 2024
Transactions value $
$0
Form type
4
Date filed
6/24/2024, 04:16 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TECX Common Stock Award +126K 126K Jun 20, 2024 Direct F1

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 TECX Employee Stock Option (Right to Buy) Award +56.1K 56.1K Jun 20, 2024 Common Stock 56.1K $2.38 Direct F2, F3, F4
transaction TECX Employee Stock Option (Right to Buy) Award +18.7K 18.7K Jun 20, 2024 Common Stock 18.7K $5.38 Direct F2, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received in exchange for 236,458 shares of common stock of Tectonic Therapeutic, Inc., a Delaware corporation ("Tectonic"), pursuant to an Agreement and Plan of Merger dated as of January 30, 2024 (the "Merger Agreement") by and among AVROBIO, Inc., a Delaware corporation ("AVROBIO"), Tectonic and Alpine Merger Subsidiary, Inc., a direct, wholly owned subsidiary of AVROBIO (the "Merger Sub"). Under the terms of the Merger Agreement, on June 20, 2024, Merger Sub merged with and into Tectonic (the "Merger"), with Tectonic surviving the Merger as a wholly owned subsidiary of AVROBIO. Upon the closing of the Merger, each share of Tectonic common stock was converted into the right to receive 0.534419990 shares of the Issuer's common stock, after giving effect to a reverse stock split of the Issuer's common stock of 1-for-12. Subsequent to the Merger, the name of the Issuer was changed from AVROBIO, Inc. to Tectonic Therapeutic, Inc.
F2 Upon the closing of the Merger, each outstanding option to purchase shares of Tectonic common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock, on the same terms and conditions as were applicable to such Tectonic stock option prior to the Merger, as adjusted for the exchange ratio and the reverse stock split.
F3 22,508 shares subject to the option are fully vested. The remaining shares subject to the option vest in 10 equal monthly installments beginning on June 30, 2024, such that the option will be fully vested on March 31, 2025, subject to the Reporting Person's continued service to the Issuer on each such vesting date.
F4 Received in exchange for a stock option to acquire 104,901 shares of Tectonic common stock pursuant to the Merger Agreement.
F5 The shares subject to the option vest in 48 equal monthly installments beginning on December 1, 2023, subject to the Reporting Person's continued service to the Issuer on each such vesting date.
F6 Received in exchange for a stock option to acquire 35,000 shares of Tectonic common stock pursuant to the Merger Agreement.