BOSTON, May 04, 2026 (GLOBE NEWSWIRE) -- Tango Therapeutics, Inc. (NASDAQ: TNGX), today announced that effective May 1, 2026, the Compensation Committee of Tango Therapeutics' Board of Directors granted (i) a non-qualified stock option to purchase an aggregate of 240,000 shares of its common stock and 40,000 restricted stock units (RSUs) to Matthew Gall, the Company’s Chief Financial Officer and (ii) a non-qualified stock option to purchase an aggregate of 199,650 shares of its common stock and 33,250 RSUs to a new employee, under Tango Therapeutics' 2023 Inducement Plan.
The Tango Therapeutics 2023 Inducement Plan is used exclusively for the grant of equity awards to individuals as an inducement material to such individual's entering into employment with Tango Therapeutics, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
The options granted to Mr. Gall and the other employee have an exercise price of $20.98 per share, which is equal to the closing price of Tango Therapeutics' common stock on May 1, 2026. The stock options have a 10-year term and will vest over four years, with 25% of the options vesting on the first anniversary of the respective employee’s first date of employment and the remaining 75% of the options vesting in equal monthly installments over the three years thereafter, subject to the respective employee’s continued employment on each vesting date. The RSUs granted to Mr. Gall and the other employee will vest over three years, in three approximately equal installments on or about May 10, 2027, May 10, 2028 and May 9, 2029, subject to the respective employee’s continued employment on each vesting date. The options and RSUs are subject to the terms and conditions of Tango Therapeutics' 2023 Inducement Plan, which was approved in February 2023, and the terms and conditions of the stock option and RSU agreements covering the grant.
About Tango Therapeutics
Tango Therapeutics is a clinical-stage biotechnology company dedicated to discovering novel drug targets and delivering the next generation of precision medicine for the treatment of cancer. Using an approach that starts and ends with patients, Tango leverages the genetic principle of synthetic lethality to discover and develop therapies that take aim at critical targets in cancer. For more information, please visit www.tangotx.com.
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