Form 4: Werewolf Therapeutics Director Sells Shares

Werewolf Therapeutics Director Luke Evnin reported sales of common stock totaling 82,971 shares across three days in December 2025, executed under a Rule 10b5-1 plan.

Summary

• Luke Evnin, a Director and 10% Owner of Werewolf Therapeutics, Inc. (HOWL), reported sales of common stock.
• The transactions occurred on December 10, 11, and 12, 2025.
• A total of 82,971 shares were sold across these three days.
• The sales were executed pursuant to a Rule 10b5-1 plan established on September 24, 2025.
• Weighted average sale prices were $1.06 on December 10, 2025, $1.07 on December 11, 2025, and $1.08 on December 12, 2025.
• Following these transactions, Luke Evnin's indirect beneficial ownership stands at 2,890,128 shares.
• The shares are held indirectly through various MPM entities, including MPM Asset Management LLC, MPM BioVentures 2014, L.P., MPM BioVentures 2014(B), L.P., MPM Asset Management Investors BV2014 LLC, and MPM Oncology Innovations Fund, L.P.

Sentiment

Score: 5

Explanation: The filing reports pre-planned insider sales, which are neutral in terms of immediate operational impact but can be perceived negatively by the market.

Negatives

• A director and 10% owner selling a significant number of shares (82,971) could be perceived negatively by investors, potentially signaling a lack of confidence or a belief that the stock is fully valued.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• The sales were conducted by various MPM entities (MPM Asset Management LLC, MPM BioVentures 2014, L.P., MPM BioVentures 2014(B), L.P., MPM Asset Management Investors BV2014 LLC, and MPM Oncology Innovations Fund, L.P.) in which Luke Evnin has an interest as a member, Managing Director, or manager. He disclaims beneficial ownership except to the extent of his pecuniary interest therein.

Stakeholder Impact

• Shareholders may view the sales by a director and significant owner as a negative signal regarding the company's short-term prospects or valuation.

Key Dates

Keywords

Werewolf Therapeutics, HOWL, Luke Evnin, Form 4, Insider Trading, Stock Sale, Rule 10b5-1, Director Transaction