SCHEDULE: Squadron Master Fund Reports 5% Stake in C4 Therapeutics

Squadron Master Fund LP, along with affiliated entities and individuals, has disclosed a beneficial ownership of 5,550,000 shares, representing 5.0% of the outstanding common stock of C4 Therapeutics, Inc.

Summary

• Squadron Master Fund LP, Squadron Capital Management, LLC, Matthew Sesterhenn, and William Blank have collectively reported beneficial ownership of 5,550,000 shares of C4 Therapeutics, Inc. common stock.
• This holding represents 5.0% of the company's outstanding common stock, based on 110,567,222 shares as of May 1, 2026.
• Squadron Capital Management, LLC acts as the investment adviser to Squadron Master Fund LP and other private funds.
• Matthew Sesterhenn and William Blank are Partners of Squadron Capital Management, LLC and may be deemed beneficial owners due to their control over investment and voting discretion.
• The reporting persons expressly disclaim beneficial ownership beyond their direct roles, stating the filing should not be construed as an admission of beneficial ownership of all reported securities.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily reports ownership and does not provide operational or financial performance data.

Positives

• Significant stake acquired by an investment entity, potentially indicating confidence in the company's future prospects.
• Clear disclosure of ownership, adhering to regulatory requirements.

Negatives

• The filing does not contain financial performance data or operational updates, limiting the assessment of the company's current health.
• The reporting persons disclaim beneficial ownership of the full amount, which could introduce ambiguity regarding ultimate control.

Risks

• Potential for increased market activity or influence from a significant shareholder.
• The disclaimer of beneficial ownership by key individuals could lead to questions about the true extent of control and decision-making power.

Future Outlook

This filing is a Schedule 13G, which reports beneficial ownership and does not contain forward-looking statements or company guidance.

Management Comments

• Pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended, Squadron Capital Management, LLC and Mr. Sesterhenn and Mr. Blank expressly disclaim beneficial ownership over any of the securities reported in this statement, and the filing of this statement shall not be construed as an admission that Squadron Capital Management, LLC or Mr. Sesterhenn and Mr. Blank are the beneficial owner of any of the securities reported herein.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors accumulating significant stakes in publicly traded companies, often indicating a passive investment strategy or a precursor to more active engagement.

Stakeholder Impact

• Shareholders: May observe increased institutional interest in the stock, potentially influencing trading activity.
• Management: May need to engage with significant new institutional holders.
• Creditors: No direct impact indicated by this filing.

Next Steps

• Monitor future filings from Squadron Master Fund LP and related entities for any changes in ownership or strategy.
• Observe C4 Therapeutics, Inc.'s performance and strategic announcements for context regarding this investment.

Key Dates

Keywords

C4 Therapeutics, Squadron Master Fund, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Investment Adviser, Shareholder