Form 4: IGM Biosciences Director Michael Lee Receives Stock as Quarterly Retainer

Director Michael Lee of IGM Biosciences receives 1,734 shares of common stock as a quarterly retainer, while disclaiming beneficial ownership due to his role as a Redmile Group representative.

Summary

• Michael Lee, a director of IGM Biosciences, received 1,734 shares of common stock on March 29, 2024, as a quarterly retainer.
• The shares were granted as part of the Issuer's Outside Director Compensation Policy.
• Lee is a managing director of Redmile Group, LLC, and was elected to the board as a representative of Redmile and its affiliates.
• Lee has assigned all economic, pecuniary, and voting rights to Redmile and disclaims beneficial ownership of the securities.
• As of March 29, 2024, Lee directly owns 5,854 shares.
• Jeremy Green, as the principal of Redmile, may also be deemed a beneficial owner, but disclaims ownership except to the extent of their pecuniary interest.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation. The sentiment is neutral as it simply reports the grant of stock as part of an existing compensation policy.

Positives

• The receipt of stock as a retainer aligns with IGM Biosciences' Outside Director Compensation Policy.

Management Comments

• Michael Lee disclaims beneficial ownership of the securities, and the filing of this Form 4 shall not be deemed an admission that Mr. Lee is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Industry Context

This filing is a routine disclosure related to director compensation in the biotechnology industry. Directors often receive stock as part of their compensation packages, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Director compensation packages vary across the biotechnology industry, but equity grants are a common component.
• Companies like Amgen, Gilead Sciences, and Biogen also provide stock options and restricted stock units to their directors as part of their compensation.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with company performance.

Key Dates