MARK MCDADE - 28 Oct 2025 Form 4 Insider Report for Tourmaline Bio, Inc. (TRML)

Role
Director
Signature
/s/ Brad Middlekauff, Attorney-in-Fact
Issuer symbol
TRML
Transactions as of
28 Oct 2025
Net transactions value
$0
Form type
4
Filing time
28 Oct 2025, 18:30:19 UTC
Previous filing
06 Jun 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
MCDADE MARK Director C/O QIMING U.S. VENTURES MANAGEMENT, LLC, 11100 NE 8TH ST., SUITE 200, BELLEVUE /s/ Brad Middlekauff, Attorney-in-Fact 28 Oct 2025 0001242126

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TRML Common Stock Disposition pursuant to a tender of shares in a change of control transaction -518 -100% 0 28 Oct 2025 Direct F1, F2
transaction TRML Common Stock Disposition pursuant to a tender of shares in a change of control transaction -183,177 -100% 0 28 Oct 2025 By Qiming U.S. Healthcare Fund I,L.P. F1, F2, F3
transaction TRML Common Stock Disposition pursuant to a tender of shares in a change of control transaction -110,083 -100% 0 28 Oct 2025 By Qiming U.S. Healthcare Fund II,L.P. F1, F2, F4
transaction TRML Common Stock Disposition pursuant to a tender of shares in a change of control transaction -448,431 -100% 0 28 Oct 2025 By Qiming U.S. Healthcare Fund III,L.P. F1, F2, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TRML Employee Stock Option (Right to Buy) Disposed to Issuer -20,000 -100% 0 28 Oct 2025 Common Stock 20,000 $9.46 Direct F1, F6
transaction TRML Employee Stock Option (Right to Buy) Disposed to Issuer -10,000 -100% 0 28 Oct 2025 Common Stock 10,000 $13.91 Direct F1, F6
transaction TRML Employee Stock Option (Right to Buy) Disposed to Issuer -16,800 -100% 0 28 Oct 2025 Common Stock 16,800 $18.73 Direct F1, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

MARK MCDADE is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 This Form 4 reports securities disposed pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement"), dated as of September 8, 2025, by and among Issuer, Novartis AG, a company limited by shares (Aktiengesellschaft) incorporated under the laws of Switzerland ("Parent"), and Torino Merger Sub Inc., a Delaware corporation and indirect wholly owned subsidiary of Parent ("Merger Sub"). Pursuant to the Merger Agreement, on October 28, 2025, Merger Sub completed a cash tender offer to acquire all of the shares of common stock of the Issuer, par value $0.0001 (the "Shares"), issued and outstanding immediately prior to the effective time of the merger (the "Effective Time"), in exchange for $48.00 in cash per Share, subject to any applicable withholding of taxes (the "Merger Consideration").
F2 Pursuant to the terms of the Merger Agreement, each Share was tendered in exchange for $48.00 in cash per Share.
F3 The securities are directly held by Qiming U.S. Healthcare Fund I, L.P. ("Qiming"). Qiming U.S. Healthcare GP I, LLC ("Qiming GP") is the sole general partner of Qiming. The Reporting Person is a managing member of Qiming GP and may be deemed to share voting and dispositive power over the securities held by Qiming. The Reporting Person disclaims beneficial ownership of the reported securities, except to the extent of his pecuniary interest therein.
F4 The securities are directly held by Qiming U.S. Healthcare Fund II, L.P. ("Qiming II"). Qiming U.S. Healthcare GP II, LLC ("Qiming GP II") is the sole general partner of Qiming II. The Reporting Person is a managing member of Qiming GP II and may be deemed to share voting and dispositive power over the securities held by Qiming II. The Reporting Person disclaims beneficial ownership of the reported securities, except to the extent of his pecuniary interest therein.
F5 The securities are directly held by Qiming U.S. Healthcare Fund III, L.P. ("Qiming III"). Qiming U.S. Healthcare GP III, LLC ("Qiming GP III") is the sole general partner of Qiming III. The Reporting Person is a managing member of Qiming GP III and may be deemed to share voting and dispositive power over the securities held by Qiming III. The Reporting Person disclaims beneficial ownership of the reported securities, except to the extent of his pecuniary interest therein.
F6 Pursuant to the terms of the Merger Agreement, each stock option that was outstanding and unexercised immediately prior to the Effective Time was automatically canceled and terminated and converted into the right to receive an amount in cash, without interest, equal to the product of (i) the amount by which the Merger Consideration exceeds the applicable exercise price per Share of such option and (ii) the aggregate number of Shares issuable upon exercise of such option or portion thereof, subject to any applicable withholding of taxes.