Sandeep Chidambar Kulkarni - 22 Oct 2025 Form 4 Insider Report for Tourmaline Bio, Inc. (TRML)

Role: CEO, Director
Signature: /s/ Brad Middlekauff, Attorney-in-Fact
Issuer symbol: TRML
Transactions as of: 22 Oct 2025
Net transactions value: +$199,996
Form type: 4
Filing time: 24 Oct 2025, 17:05:33 UTC
Previous filing: 22 May 2025
Next filing: 28 Oct 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Kulkarni Sandeep Chidambar	CEO, Director	C/O TOURMALINE BIO, INC., 27 WEST 24TH STREET, SUITE 702, NEW YORK	/s/ Brad Middlekauff, Attorney-in-Fact	24 Oct 2025	0001945691

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TRML	Common Stock	Options Exercise	$199,996	+25,316	+3.5%	$7.90	755,051	22 Oct 2025	Direct
holding	TRML	Common Stock						7,000	22 Oct 2025	By Gilead Capital, LP	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	TRML	Employee Stock Option (Right to Buy)	Options Exercise	$0	-25,316	-4.8%	$0.000000	503,478	22 Oct 2025	Common Stock	25,316	$7.90	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares are held by Gilead Capital, LP ("Gilead"). The Reporting Person's spouse is a partner of Gilead and shares voting and investment power with respect to the shares held by Gilead, and therefore the Reporting Person may be deemed an indirect beneficial owner of these shares. This report is not an admission that the Reporting Person is an indirect beneficial owner of these shares for purposes of Section 16 or for any other purpose.
F2	The shares subject to the option vested as to 25% of the shares on June 14, 2024 with the remainder vesting in the following 36 equal monthly installments, subject to the Reporting Person's continued service on each such vesting date.

Content

These shares are held by Gilead Capital, LP ("Gilead"). The Reporting Person's spouse is a partner of Gilead and shares voting and investment power with respect to the shares held by Gilead, and therefore the Reporting Person may be deemed an indirect beneficial owner of these shares. This report is not an admission that the Reporting Person is an indirect beneficial owner of these shares for purposes of Section 16 or for any other purpose.

The shares subject to the option vested as to 25% of the shares on June 14, 2024 with the remainder vesting in the following 36 equal monthly installments, subject to the Reporting Person's continued service on each such vesting date.