Praveen P. Tipirneni - 20 Jun 2024 Form 4 Insider Report for Tectonic Therapeutic, Inc. (TECX)

Reporting relationship: Director
Issuer ticker: TECX
Reported as of: 20 Jun 2024
Net transaction value: $0
SEC form: 4
Accepted by SEC: 24 Jun 2024, 16:32:33 UTC
Prior SEC filing: 17 Jan 2024
Next SEC filing: 10 Jul 2024
Source filing: View source filing
Reporting owner signature: /s/ Daniel Lochner, Attorney-in-Fact

Key filing fact

Praveen P. Tipirneni filed Form 4 for Tectonic Therapeutic, Inc. (TECX) on 24 Jun 2024.

Key facts

This page summarizes Praveen P. Tipirneni's Form 4 filing for Tectonic Therapeutic, Inc. (TECX).
3 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 24 Jun 2024, 16:32.

Change

Previous filing in this sequence was filed on 17 Jan 2024.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

TECX transaction

Common Stock

Award

Transaction value
Shares: +3,037
Change %
Price
Shares after: 3,037
Date: 20 Jun 2024
Ownership: Direct
Footnotes: F1

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

TECX transaction Derivative

Stock Option (Right to Buy)

Award

Transaction value
Shares: +12,166
Change %
Price
Shares after: 12,166
Date: 20 Jun 2024
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 12,166
Exercise price: $2.38
Footnotes: F2, F3, F4

TECX transaction Derivative

Stock Option (Right to Buy)

Award

Transaction value: $0
Shares: +11,760
Change %
Price: $0.000000
Shares after: 11,760
Date: 20 Jun 2024
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 11,760
Exercise price: $16.80
Footnotes: F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote F1

Received in exchange for 5,682 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.

Footnote 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.

Footnote F3

The shares subject to the option vest as to 25% of the shares on February 12, 2021 with the remainder vesting in the following 36 equal monthly installments, subject to the Reporting Person's continued service on each such vesting date

Footnote F4

Received in exchange for a stock option to acquire 22,765 shares of Tectonic common stock pursuant to the Merger Agreement.

Footnote F5

1/3rd of the shares subject to the option will vest on June 20, 2025, and the balance will vest in equal monthly installments thereafter over the next 24 months, subject in each case to the continuous service of the Reporting Person to the Issuer through the applicable vesting date.