Form 4: Cargo Therapeutics CFO Granted Stock Options

Anup Radhakrishnan, CFO of Cargo Therapeutics, received stock options for 130,000 shares on March 1, 2024, vesting monthly over four years.

Summary

• Anup Radhakrishnan, the Chief Financial Officer of CARGO Therapeutics, Inc., was granted stock options on March 1, 2024.
• The options give him the right to buy 130,000 shares of common stock at an exercise price of $25.07.
• The options vest in monthly installments, with 1/48th of the shares vesting each month starting from January 1, 2024.
• The options will be fully vested and exercisable on the fourth anniversary of the Vesting Commencement Date.
• The expiration date for the options is February 28, 2034.

Sentiment

Score: 7

Explanation: The document indicates a standard executive compensation practice, which is generally viewed neutrally to positively as it aligns management interests with shareholders.

Positives

• The grant of stock options to the CFO aligns his interests with those of the shareholders.
• The vesting schedule incentivizes the CFO to remain with the company for the long term.

Industry Context

Stock option grants are a common form of executive compensation in the biotechnology industry, used to attract and retain talent and align their interests with those of shareholders.

Comparison to Industry Standards

• Stock option grants are a standard component of compensation packages for executives in publicly traded companies, particularly in the biotech sector.
• The size of the grant and the vesting schedule are typical for a CFO role in a company of Cargo Therapeutics' size and stage of development.
• Comparable companies in the biotech industry, such as CRISPR Therapeutics, Editas Medicine, and Intellia Therapeutics, also utilize stock options as part of their executive compensation packages.

Stakeholder Impact

• Shareholders may view the stock option grant as a positive sign, aligning the CFO's interests with the company's long-term success.
• Employees may see this as a sign of stability and commitment from the company to its leadership.

Key Dates