IO Biotech's three largest insider shareholders as of September 29, 2026 are Invest A/S Lundbeckfond (Director, 13.95Mn shares), Christian E Elling (Director, 13.95Mn shares), Holdings A/S Novo (TenPercentOwner, 5.71Mn shares).
| # | Insider | Position | Direct | Indirect | Total | Share of Insiders | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Christian E Elling | Director, TenPercentOwner | 0 | 13,950,686 | 13,950,686 | 28.3% | 11 Aug, 2023 |
| 2 | Invest A/S Lundbeckfond | Director, TenPercentOwner | 13,950,686 | 0 | 13,950,686 | 28.3% | 11 Aug, 2023 |
| 3 | Holdings A/S Novo | TenPercentOwner | 10,061,916 | 0 | 10,061,916 | 20.4% | 26 Jul, 2024 |
| 4 | Capital Ix, Llc Vivo | TenPercentOwner | 0 | 3,157,894 | 3,157,894 | 6.4% | 10 Aug, 2023 |
| 5 | Jack Nielsen | Director | 0 | 3,015,545 | 3,015,545 | 6.1% | 12 Nov, 2021 |
| 6 | Healthcare Investments (Cayman) Ltd. Hbm | TenPercentOwner | 2,690,545 | 0 | 2,690,545 | 5.5% | 12 Nov, 2021 |
| 7 | Claus A. Andersson | Director | 0 | 1,791,490 | 1,791,490 | 3.6% | 12 Nov, 2021 |
| 8 | Vanessa Malier | Director | 0 | 430,477 | 430,477 | 0.9% | 12 Nov, 2021 |
| 9 | Amy Sullivan | Chief Financial Officer | 84,632 | 0 | 84,632 | 0.2% | 23 Dec, 2024 |
| 10 | Mai-Britt Zocca | Chief Executive Officer | 49,891 | 0 | 49,891 | 0.1% | 23 Dec, 2024 |
| 11 | Qasim Iftikhar Ahmad | Chief Medical Officer | 31,350 | 0 | 31,350 | 0.1% | 26 Dec, 2024 |
| 12 | Devin Whittemore Smith | General Counsel | 16,938 | 0 | 16,938 | 0.0% | 23 Dec, 2024 |
| 13 | Heidi Hunter | Director | 15,000 | 0 | 15,000 | 0.0% | 02 Jun, 2025 |
| 14 | Brian Burkavage | Chief Accounting Officer | 11,500 | 0 | 11,500 | 0.0% | 24 Nov, 2023 |
Each row is that insider’s most recently reported position, from Form 4 filings over the last 60 months — which is why this total does not tie to the quarterly series above, where a quarter counts only the insiders who filed in it. Shares held through a fund or institutional portfolio are counted on the institutional ownership page instead.
| Date | Insider | Position | Transaction | Shares | Price | Value | Shares Held After | Ownership |
|---|---|---|---|---|---|---|---|---|
| 05 Jun, 2025 | David V Smith | Director | Acquired A | 35,144 | $0.00 | $0 | 35,144 | Direct |
| 05 Jun, 2025 | Helen Louise Collins | Director | Acquired A | 35,144 | $0.00 | $0 | 35,144 | Direct |
| 05 Jun, 2025 | Kathleen Sereda Glaub | Director | Acquired A | 35,144 | $0.00 | $0 | 35,144 | Direct |
| 05 Jun, 2025 | Heidi Hunter | Director | Acquired A | 35,144 | $0.00 | $0 | 35,144 | Direct |
| 05 Jun, 2025 | Peter Hirth | Director | Acquired A | 35,144 | $0.00 | $0 | 35,144 | Direct |
| 05 Jun, 2025 | Christian E Elling | Director | Acquired A | 35,144 | $0.00 | $0 | 35,144 | Direct |
| 30 May, 2025 | Heidi Hunter | Director | Acquired P | 15,000 | $1.39 | $20.88K | 15,000 | Direct |
| 02 Apr, 2025 | Amy Sullivan | Chief Financial Officer | Acquired A | 215,000 | $0.00 | $0 | 215,000 | Direct |
| 02 Apr, 2025 | Qasim Iftikhar Ahmad | Chief Medical Officer | Acquired A | 215,000 | $0.00 | $0 | 215,000 | Direct |
| 02 Apr, 2025 | Brian Burkavage | Chief Accounting Officer | Acquired A | 65,000 | $0.00 | $0 | 65,000 | Direct |
| 02 Apr, 2025 | Devin Whittemore Smith | General Counsel | Acquired A | 140,000 | $0.00 | $0 | 140,000 | Direct |
| 02 Apr, 2025 | Mai-Britt Zocca | Chief Executive Officer | Acquired A | 580,000 | $0.00 | $0 | 580,000 | Direct |
| 23 Dec, 2024 | Qasim Iftikhar Ahmad | Chief Medical Officer | Acquired P | 31,350 | $0.85 | $26.55K | 31,350 | Direct |
| 23 Dec, 2024 | Amy Sullivan | Chief Financial Officer | Acquired P | 10,250 | $0.83 | $8.48K | 84,632 | Direct |
| 23 Dec, 2024 | Mai-Britt Zocca | Chief Executive Officer | Acquired P | 12,500 | $0.81 | $10.12K | 49,891 | Direct |
| 23 Dec, 2024 | Devin Whittemore Smith | General Counsel | Acquired P | 12,000 | $0.81 | $9.72K | 16,938 | Direct |
| 25 Jul, 2024 | Holdings A/S Novo | TenPercentOwner | Disposed S | 51,522 | $1.33 | $68.34K | 4,377,927 | Direct |
| 26 Jul, 2024 | Holdings A/S Novo | TenPercentOwner | Disposed S | 23,478 | $1.31 | $30.79K | 4,354,449 | Direct |
| 06 Jun, 2024 | Helen Louise Collins | Director | Acquired A | 45,642 | $0.00 | $0 | 45,642 | Direct |
| 06 Jun, 2024 | Kathleen Sereda Glaub | Director | Acquired A | 45,642 | $0.00 | $0 | 45,642 | Direct |