Form 4: CARGO Therapeutics Director Abraham Bassan Granted 25,000 Stock Options

CARGO Therapeutics, Inc. Director Abraham Bassan was granted 25,000 stock options with an exercise price of $4.35, vesting over one year or until the next annual meeting.

Summary

• Abraham Bassan, a Director of CARGO Therapeutics, Inc. (CRGX), was granted 25,000 stock options.
• The options have an exercise price of $4.35 per share.
• The grant date for these options was June 18, 2025.
• The options are set to expire on June 17, 2035.
• The shares underlying the option will vest 100% on the earlier of June 18, 2026 (one-year anniversary of the grant) or the date of the next Annual Meeting following June 18, 2025, contingent on Mr. Bassan's continued service to the Issuer.

Sentiment

Score: 6

Explanation: The document reports a routine stock option grant to a director, which is a standard compensation practice aimed at aligning management interests with shareholder value. It does not contain significant positive or negative financial news beyond this.

Positives

• The grant of 25,000 stock options to Director Abraham Bassan aligns his interests with those of shareholders, incentivizing long-term value creation.

Future Outlook

The stock options granted to Director Abraham Bassan are subject to a future vesting schedule, with full vesting occurring on the earlier of the one-year anniversary of the grant date (June 18, 2026) or the next Annual Meeting following June 18, 2025, provided his continued service to the company.

Industry Context

The grant of stock options to a director is a common practice in the biotechnology and pharmaceutical industry, aligning executive incentives with long-term company performance and shareholder value.

Related Party Transactions

• Grant of 25,000 stock options to Abraham Bassan, a Director of CARGO Therapeutics, Inc., with an exercise price of $4.35 per share, vesting subject to continued service.

Stakeholder Impact

• Shareholders: Potential dilution upon exercise of options, but also increased alignment of director's interests with shareholder value.
• Management: Director Abraham Bassan's compensation structure is enhanced, incentivizing long-term performance.

Next Steps

• Vesting of 25,000 stock options on the earlier of June 18, 2026, or the next Annual Meeting following June 18, 2025, subject to continued service.

Key Dates

Keywords

CARGO Therapeutics, CRGX, Stock Options, Insider Transaction, Form 4, Director Compensation, Equity Grant, Abraham Bassan