BOSTON, June 05, 2026 (GLOBE NEWSWIRE) -- Tango Therapeutics, Inc. (NASDAQ:TNGX), today announced that, effective June 1, 2026, the Compensation Committee of Tango Therapeutics' Board of Directors granted a non-qualified stock option to purchase 170,000 shares of its common stock and 40,000 restricted stock units (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 have an exercise price of $23.10 per share, which is equal to the closing price of Tango Therapeutics' common stock on June 1, 2026. Each option will vest as to 25% of the shares underlying such option on the first anniversary of the employee's start date and as to an additional 1/36th of the remaining shares underlying the option monthly thereafter, in each case, subject to each such employee's continued employment on each vesting date. The RSU award will vest in three equal annual installments, subject to the 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.

Investors:

Elizabeth Hickin

ehickin@tangotx.com

Media:

1AB

Amanda Lazaro

amanda@1abmedia.com

Tango Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)