Form 4: Redmile Group Adjusts Stake in IGM Biosciences Through Stock Distribution and Grant

Redmile Group, LLC reports adjustments to its beneficial ownership of IGM Biosciences stock due to an in-kind distribution and a grant of restricted stock units.

Summary

• Redmile Group, LLC, a significant shareholder in IGM Biosciences, Inc., has reported changes in its beneficial ownership.
• On March 28, 2024, Redmile made a pro rata in-kind distribution of 12,464 shares of IGM Biosciences common stock from one of its private investment vehicles, resulting in Redmile no longer having voting or dispositive power over those shares.
• On March 29, 2024, Redmile acquired 1,734 shares through a grant of restricted stock units paid to Mr. Michael Lee as a quarterly retainer in common stock pursuant to the Issuer's Outside Director Compensation Policy.
• Following these transactions, Redmile's beneficial ownership stands at 3,078,332 shares.
• Jeremy Green, as the principal of Redmile, may also be deemed to beneficially own these securities.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing changes in stock ownership, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders and major shareholders.

Stakeholder Impact

• Shareholders are informed about changes in ownership by a major shareholder, Redmile Group.

Key Dates