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Filing Details

Accession Number:: 0001104659-23-077730
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2023-07-03 21:45:20
Reporting Period:: 2023-06-29

Accepted Time:: 2023-07-03 21:45:20
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1496323	Igm Biosciences Inc.	IGMS	()	DE

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1425738	Redmile Group, Llc	One Letterman Drive, Building D Suite D3-300 San Francisco CA 94129		Yes	No	No	No
1650527	Jeremy Green	C/O Redmile Group, Llc (Ny Office) 45 W. 27Th Street, Floor 11 New York NY 10001		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2023-06-29	80,423	$9.42	2,893,763	No	4	S	Indirect	See Footnote
Common Stock	Acquisiton	2023-06-29	80,423	$9.42	2,974,186	No	4	P	Indirect	See Footnote
Common Stock	Disposition	2023-06-29	54,740	$9.42	2,919,446	No	4	J	Indirect	See Footnote
Common Stock	Acquisiton	2023-06-29	54,740	$9.42	2,974,186	No	4	J	Indirect	See Footnote
Common Stock	Acquisiton	2023-06-30	492	$0.00	2,974,678	No	4	A	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See Footnote
No	4	P	Indirect	See Footnote
No	4	J	Indirect	See Footnote
No	4	J	Indirect	See Footnote
No	4	A	Indirect	See Footnote

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock (Opening Balance)	2,974,186	Indirect	See Footnote

Footnotes

Since the last Form 4 filing by Redmile and Jeremy Green (collectively, the "Reporting Persons") disclosing transactions in the Issuer's common stock, Redmile has ceased serving as the sub-adviser to a sub-advised account that held 362,813 shares of the Issuer's common stock (the "Account Shares") and therefore no longer has voting or dispositive power with respect to such shares. Accordingly, the amount of shares beneficially owned by the Reporting Persons as disclosed herein does not include the Account Shares and each of the Reporting Persons disclaims beneficial ownership of the Account Shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
On June 29, 2023, certain private investment vehicles and accounts sub-advised by Redmile engaged in cross trades with respect to the Issuer's common stock. The reported transactions occurred simultaneously, at which time the price per share of the Common Stock was $9.42, and therefore the reported transactions resulted in no profit to Redmile or Jeremy Green and resulted in no change in either of their aggregate beneficial ownership.
Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock. The amount reflects payment to Mr. Michael Lee of a quarterly retainer in common stock pursuant to the Issuer's Outside Director Compensation Policy.
The reported securities are or were held directly by certain private investment vehicles managed by Redmile and may be deemed beneficially owned by Redmile as the investment manager of such Redmile funds.
These securities were granted to Mr. Lee, a managing director of Redmile Group, LLC ("Redmile"), in connection with his service as a member of the Board of Directors of the Issuer. Pursuant to the policies of Redmile, Mr. Lee holds these securities as a nominee on behalf, and for the sole benefit, of Redmile and has assigned all economic, pecuniary and voting rights in respect of the securities to Redmile. Mr. Lee disclaims beneficial ownership of the securities, and the filing of this Form 4 shall not be deemed an admission that Mr. Lee is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
The securities may also be deemed beneficially owned by Mr. Green as the principal of Redmile. The Reporting Persons disclaim beneficial ownership of the securities except to the extent of their pecuniary interest therein, and this Form 4 shall not be deemed an admission that either Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
Mr. Lee, a member of the board of directors of the Issuer and a managing director of Redmile, was elected to the board of the Issuer as a representative of Redmile and its affiliates. As a result, the Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.