Form 4: Maze Therapeutics CSBO Sells Shares After Option Exercise

Maze Therapeutics' Chief Strategy and Business Officer, Atul Dandekar, exercised stock options and subsequently sold a significant portion of common stock under a pre-arranged 10b5-1 trading plan.

Summary

• Atul Dandekar, Chief Strategy and Business Officer (CSBO) of Maze Therapeutics, Inc., engaged in multiple transactions involving the company's common stock on December 29 and December 30, 2025.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on September 29, 2025.
• On December 29, 2025, Dandekar acquired 72,400 shares of common stock by exercising stock options at a price of $10.42 per share.
• Immediately following the option exercise on December 29, 2025, Dandekar sold 66,365 shares at a weighted average price of $40.5116 per share (ranging from $39.99 to $40.985) and an additional 6,035 shares at a weighted average price of $41.1286 per share (ranging from $40.99 to $41.51).
• On December 30, 2025, Dandekar acquired 100 shares by exercising stock options at $10.42 per share and subsequently sold these 100 shares at $40.36 per share.
• The reported beneficial ownership of common stock following these transactions is 10,503 shares.
• The reported total beneficial ownership includes 1,562 shares acquired through the company's Employee Stock Purchase Plan (ESPP).
• The stock options exercised were fully vested, having become fully vested on March 17, 2025.

Sentiment

Score: 5

Explanation: The filing reports pre-planned insider transactions (option exercise and sale) which are generally neutral. While the officer realized a significant profit, the net effect is a reduction in direct beneficial ownership, which can be perceived as slightly negative, but the 10b5-1 plan mitigates strong negative sentiment.

Positives

• The reporting person realized a significant profit by exercising stock options at a price of $10.42 per share and selling the acquired shares at weighted average prices substantially higher, ranging from $40.36 to $41.1286 per share.
• The options were significantly 'in the money,' indicating a favorable performance of Maze Therapeutics' stock since the option grant date.

Negatives

• The reporting person significantly reduced their direct beneficial ownership of common stock, decreasing from an implied higher amount to 10,503 shares after the reported transactions.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Acquisition of 1,562 shares of Common Stock through the Issuer's Employee Stock Purchase Plan (ESPP).
• Exercise of stock options, which are derivative securities granted by the Issuer.

Stakeholder Impact

• Shareholders may interpret the sale of a significant number of shares by a key officer as a signal, although the pre-arranged 10b5-1 plan suggests it is not based on new material non-public information.
• The transactions demonstrate that the company's stock price has appreciated significantly, allowing the officer to realize substantial gains from vested options.

Key Dates

Keywords

Maze Therapeutics, MAZE, Form 4, Insider Transaction, Stock Options, 10b5-1 Plan, Atul Dandekar, Common Stock, Share Sale, Beneficial Ownership