# EDGAR Filing Document

**Accession Number:** 0001789972
**File Stem:** 0001193125-23-065384
**Filing Date:** 2023-3
**Character Count:** 48027
**Document Hash:** 49cd4e321b288c31edf50d1b2698ee24
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-065384.hdr.sgml**: 20230309

**ACCESSION NUMBER**: 0001193125-23-065384

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20230309

**DATE AS OF CHANGE**: 20230309

**EFFECTIVENESS DATE**: 20230309

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cullinan Oncology, Inc.
- **CENTRAL INDEX KEY:** 0001789972
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **IRS NUMBER:** 813867811
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-270387
- **FILM NUMBER:** 23718290

**BUSINESS ADDRESS:**
- **STREET 1:** ONE MAIN STREET
- **STREET 2:** SUITE 1350
- **CITY:** CAMBRIDGE
- **STATE:** MA
- **ZIP:** 02142
- **BUSINESS PHONE:** 617-410-4650

**MAIL ADDRESS:**
- **STREET 1:** ONE MAIN STREET
- **STREET 2:** SUITE 1350
- **CITY:** CAMBRIDGE
- **STATE:** MA
- **ZIP:** 02142

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Cullinan Management, Inc.
- **DATE OF NAME CHANGE:** 20210107

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Cullinan Oncology, LLC
- **DATE OF NAME CHANGE:** 20191001

**As filed with the Securities and Exchange Commission on March 9, 2023** 

**Registration No. 333-** 

------

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

------

**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

------

## CULLINAN ONCOLOGY, INC.
**(Exact Name of Registrant as Specified in Its Charter)** 

------

---

| | |
|:---|:---|
| **Delaware** | **81-3879991** |
| **(State or Other Jurisdiction of**<br> **Incorporation or Organization)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **One Main Street**<br> **Suite 1350**<br> **Cambridge, MA** | **02142** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**Stock Option Inducement Awards (April 2022-February 2023)** 

**(Full Title of the Plan)** 

**Nadim Ahmed** 

**President and Chief Executive Officer** 

**Cullinan Oncology, Inc.** 

**One Main Street** 

**Suite 1350** 

**Cambridge, MA 02142** 

**(Name and Address of Agent For Service)** 

**(617) 410-4650** 

**(Telephone Number, Including Area Code, of Agent For Service)** 

------

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
|  |  | Emerging growth company | ☒ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

------

**Explanatory Note** 

This Registration Statement on Form S-8 being filed by Cullinan Oncology, Inc., a Delaware corporation (the "Registrant") for the purpose of registering 1,751,500 shares of the Registrant's Common Stock, $0.0001 par value per share ("Common Stock"), issuable upon exercise of nonstatutory stock options granted to employees of the Registrant as an inducement material to entry into employment with the Registrant, in accordance with Nasdaq Listing Rule 5635(c)(4).

**PART I** 

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS** 

**Item 1. Plan Information.** 

The information required by Item 1 is included in documents sent or given to participants in the plan covered by this registration statement pursuant to Rule 428(b)(1) of the Securities Act of 1933, as amended (the "Securities Act").

**Item 2. Registrant Information and Employee Plan Annual Information.** 

The written statement required by Item 2 is included in documents sent or given to participants in the plan covered by this registration statement pursuant to Rule 428(b)(1) of the Securities Act.

**PART II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference.** 

The Registrant is subject to the informational and reporting requirements of Sections 13(a), 14, and 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and in accordance therewith files reports, proxy statements and other information with the Securities and Exchange Commission (the "Commission"). The following documents, which are on file with the Commission, are incorporated in this registration statement by reference:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant's latest [annual report](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1789972/000095017023006839/cgem-20221231.htm) filed pursuant to Section 13(a) or 15(d) of the Exchange Act or the latest prospectus filed pursuant to Rule 424(b) under the Securities Act that contains audited financial statements for the Registrant's latest fiscal year for which such statements have been filed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the document referred to in (a) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The description of the securities contained in the Registrant's registration statement on [Form 8-A](http://www.sec.gov/Archives/edgar/data/1789972/000119312521002768/d83916d8a12b.htm) filed under the Exchange Act, as the description therein has been updated and superseded by the description of the Registrant's capital stock contained in [Exhibit 4.2](http://www.sec.gov/Archives/edgar/data/1789972/000156459021016312/cgem-ex42_520.htm) to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, including any amendment or report filed for the purpose of updating such description.

All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be part hereof from the date of the filing

------

of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for the purposes of this registration statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.

**Item 4. Description of Securities.** 

Not applicable.

**Item 5. Interests of Named Experts and Counsel.** 

Ropes & Gray LLP has opined as to the legality of the securities being offered by this registration statement.

**Item 6. Indemnification of Directors and Officers.** 

Section 145 of the Delaware General Corporation Law, or the DGCL, authorizes a corporation to indemnify its directors and officers against liabilities arising out of actions, suits and proceedings to which they are made or threatened to be made a party by reason of the fact that they have served or are currently serving as a director or officer to a corporation. The indemnity may cover expenses (including attorneys' fees) judgments, fines and amounts paid in settlement actually and reasonably incurred by the director or officer in connection with any such action, suit or proceeding if the director or officer acted in good faith and in a manner the director or officer reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe the director or officer's conduct was unlawful. Section 145 permits corporations to pay expenses (including attorneys' fees) incurred by directors and officers in advance of the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such director or officer to repay such amount if it shall ultimately be determined that such director or officer is not entitled to be indemnified by the corporation as authorized in Section 145. In addition, Section 145 provides that a corporation has the power to purchase and maintain insurance on behalf of its directors and officers against any liability asserted against them and incurred by them in their capacity as a director or officer, or arising out of their status as such, whether or not the corporation would have the power to indemnify the director or officer against such liability under Section 145.

Section 102(b)(7) of the DGCL provides, generally, that the registrant's certificate of incorporation may contain a provision eliminating or limiting the personal liability of a director to the corporation or its shareholders for monetary damages for breach of fiduciary duty as a director, *provided that such provision may not eliminate or limit the liability of a director (i) for any breach of the director's duty of loyalty to the corporation or its shareholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under section 174 of the DGCL or (iv) for any transaction from which the director derived an improper personal benefit. No such provision may eliminate or limit the liability of a director for any act or omission occurring prior to the date when such provision became effective.* 

The Registrant has adopted provisions, in its amended and restated certificate of incorporation and amended and restated bylaws, that limit or eliminate the personal liability of its directors to the fullest extent permitted by the DGCL, as it now exists or may in the future be amended. Consequently, a director will not be personally liable to the Registrant or its stockholders for monetary damages or breach of fiduciary duty as a director, except for liability for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any breach of the director's duty of loyalty to the Registrant or its stockholders;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any act or omission not in good faith or that involves intentional misconduct or a knowing violating of law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any unlawful payments related to dividends or unlawful stock purchases, redemptions or other distributions; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any transaction from which the director derived an improper personal benefit.

These limitations of liability do not alter director liability under the federal securities laws and do not affect the availability of equitable remedies such as an injunction or rescission.

In addition, the Registrant's bylaws provide that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Registrant will indemnify its directors, officers and, in the discretion of its board of directors, certain
employees to the fullest extent permitted by the DGCL, as it now exists or may in the future be amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Registrant will advance reasonable expenses, including attorneys' fees, to its directors and, in the
discretion of its board of directors, to its officers and certain employees, in connection with legal proceedings relating to their service for or on behalf of the Registrant, subject to limited exceptions.

The Registrant has entered into indemnification agreements with each of its directors and intend to enter into such agreements with certain of its executive officers. These agreements provide that the Registrant will indemnify each of its directors, certain of its executive officers and, at times, their affiliates to the fullest extent permitted by Delaware law. The Registrant will advance expenses, including attorneys' fees (but excluding judgments, fines and settlement amounts), to each indemnified director, executive officer or affiliate in connection with any proceeding in which indemnification is available and the Registrant will indemnify its directors and officers for any action or proceeding arising out of that person's services as a director or officer brought on behalf of the Registrant or in furtherance of the Registrant's rights. Additionally, certain of the Registrant's directors or officers may have certain rights to indemnification, advancement of expenses or insurance provided by their affiliates or other third parties, which indemnification relates to and might apply to the same proceedings arising out of such director's or officer's services as a director referenced herein. Nonetheless, the Registrant has agreed in the indemnification agreements that its obligations to those same directors or officers are primary and any obligation of such affiliates or other third parties to advance expenses or to provide indemnification for the expenses or liabilities incurred by those directors are secondary.

The Registrant also maintains general liability insurance which covers certain liabilities of its directors and officers arising out of claims based on acts or omissions in their capacities as directors or officers, including liabilities under the Securities Act of 1933, as amended, or the Securities Act.

**Item 7. Exemption from Registration Claimed.** 

Not applicable.

------

**Item 8. Exhibits.** 

The following exhibits are incorporated herein by reference:

---

| | |
|:---|:---|
| Number | Description |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 | [Second Amended and Restated Certificate of Incorporation of the Registrant, as amended by the Certificate of Amendment, effective as of February 25, 2021, as further amended by the Certificate of Designation of Preferences, Rights and Limitation of Series A Convertible Preferred Stock (incorporated by reference to Exhibit 3.1 of the Registrant's Annual Report on Form 10-K (File No. 001-39856) filed with the SEC on March 30, 2021).](http://www.sec.gov/Archives/edgar/data/1789972/000156459021016312/cgem-ex31_386.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 | [Second Amended and Restated Bylaws of the Registrant, effective as of February 25, 2021 (incorporated by reference to Exhibit 3.2 of the Registrant's Annual Report on Form 10-K (File No. 001-39856) filed with the SEC on March 30, 2021).](http://www.sec.gov/Archives/edgar/data/1789972/000156459021016312/cgem-ex32_385.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1\* | [Opinion of Ropes & Gray LLP, counsel to the Registrant.](d481903dex51.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;23.1\* | [Consent of Ropes & Gray LLP (included in Exhibit 5.1).](d481903dex51.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;23.2\* | [Consent of KPMG LLP, Independent Registered Public Accounting Firm.](d481903dex232.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;24.1\* | [Power of Attorney (included on the signature pages of this registration statement).](d481903ds8.htm#sig) |
| &nbsp;&nbsp;&nbsp;&nbsp;99.1\* | [Nonstatutory Stock Option Inducement Award Agreement](d481903dex991.htm) |
| 107\* | [Filing Fee Table.](d481903dexfilingfees.htm) |

---

------

\* Filed herewith.

**Item 9. Undertakings.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. *<u>Item 512(a) of Regulation S-K</u>* . The undersigned Registrant
hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;

------

*provided, however,* that paragraphs (1)(i) and (ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. *<u>Item 512(b) of Regulation S-K</u>*. The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. *<u>Item 512(h) of Regulation S-K</u>*. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

------

**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Cambridge, Commonwealth of Massachusetts, on this 9th day of March, 2023.

---

| | |
|:---|:---|
| CULLINAN ONCOLOGY, INC. | CULLINAN ONCOLOGY, INC. |
| By: | /s/ Nadim Ahmed |
| Name: | Nadim Ahmed |
| Title: | President and Chief Executive Officer |

---

**POWER OF ATTORNEY AND SIGNATURES** 

We, the undersigned officers and directors of Cullinan Oncology, Inc., hereby severally constitute and appoint Nadim Ahmed and Jeffrey Trigilio, and each of them singly, our true and lawful attorneys with full power to them, and each of them singly, to sign for us and in our names in the capacities indicated below, the registration statement on Form S-8 filed herewith and any and all subsequent amendments to said registration statement, and generally to do all such things in our names and on our behalf in our capacities as officers and directors to enable Cullinan Oncology, Inc. to comply with the provisions of the Securities Act of 1933, as amended, and all requirements of the Securities and Exchange Commission, hereby ratifying and confirming our signatures as they may be signed by our said attorneys, or any of them, to said registration statement and any and all amendments thereto.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Nadim Ahmed<br> Nadim Ahmed | President, Chief Executive Officer and Director<br> (*Principal Executive Officer*) | March 9, 2023 |
| /s/ Jeffrey Trigilio<br> Jeffrey Trigilio | Chief Financial Officer<br> (*Principal Financial and Accounting Officer)* | March 9, 2023 |
| /s/ Thomas Ebeling<br> Thomas Ebeling | Director | March 9, 2023 |
| /s/ Anne-Marie Martin<br> Anne-Marie Martin | Director | March 9, 2023 |
| /s/ Anthony Rosenberg<br> Anthony Rosenberg | Director | March 9, 2023 |
| /s/ David P. Ryan<br> David P. Ryan, M.D. | Director | March 9, 2023 |
| /s/ Stephen Webster<br> Stephen Webster | Director | March 9, 2023 |

---

## Exhibit 5.1

**Exhibit 5.1**![LOGO](g481903g65q01.jpg)

March 9, 2023

Cullinan Oncology, Inc.

One Main Street, Suite 1350

Cambridge, MA 02142

Ladies and Gentlemen:

This opinion letter is furnished to you in connection with the registration statement on Form S-8 (the "<u>Registration Statement</u>"), filed by Cullinan Oncology, Inc., a Delaware corporation (the "<u>Company</u>"), on the date hereof, with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "<u>Securities Act</u>"), for the registration of 1,751,500 shares of Common Stock, $0.0001 par value per share, of the Company (the "<u>Shares</u>"). The Shares are issuable upon exercise of nonstatutory stock options granted to employees of the Company as an inducement material to entry into employment with the Company (the "<u>Inducement Award Agreements</u>").

We are familiar with the actions taken by the Company in connection with the adoption of the Inducement Award Agreements. We have examined such certificates, documents and records and have made such investigation of fact and such examination of law as we have deemed appropriate in order to enable us to render the opinions set forth herein. In conducting such investigation, we have relied, without independent verification, upon certificates of officers of the Company, public officials and other appropriate persons.

The opinions expressed below are limited to the Delaware General Corporation Law.

Based upon and subject to the foregoing, we are of the opinion that the Shares have been duly authorized and, when the Shares have been issued and sold in accordance with the terms of the Inducement Award Agreements, the Shares will be validly issued, fully paid and nonassessable.

We hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations thereunder.

Very truly yours,

/s/ Ropes & Gray LLP

Ropes & Gray LLP

## Exhibit 23.2

---

| | | |
|:---|:---|:---|
| ![LOGO](g481903g0308131201221.jpg) |  | **Exhibit 23.2** |
|  | KPMG LLP<br> Two Financial Center<br> 60 South Street<br> Boston, MA 02111 |  |

---

**Consent of Independent Registered Public Accounting Firm** 

We consent to the use of our report dated March 9, 2023, with respect to the consolidated financial statements of Cullinan Oncology, Inc., incorporated herein by reference.

/s/ KPMG LLP

Boston, Massachusetts

March 9, 2023

## Exhibit 99.1

**Exhibit 99.1** 

**NON-QUALIFIED STOCK OPTION AGREEMENT** 

**(INDUCEMENT AWARD)** 

**FOR COMPANY EMPLOYEES** 

---

| | |
|:---|:---|
| Name of Optionee: | |
| No. of Option Shares: | |
| Option Exercise Price per Share: | $[**FMV Grant Date** ] |
| Grant Date: | |
| Vesting Start Date: | |
| Expiration Date: | |

---

This agreement (this "Agreement") evidences an inducement grant of a stock option (the "Stock Option") by Cullinan Oncology, Inc. (the "Company") to the Optionee named above. The Stock Option is granted to the Optionee in connection with the Optionee's entering into employment with the Company and is regarded by the parties as an inducement material to the Optionee's entering into employment within the meaning of Nasdaq Listing Rule 5635(c)(4).

The stock option shall be subject to and governed by, and shall be construed and administered in accordance with, the terms and conditions of the Cullinan Oncology, Inc. 2021 Stock Option and Incentive Plan (as from time to time amended and in effect, the "Plan"), which terms and conditions are incorporated herein by reference, except for those terms and conditions contained in Section 3(a) of the Plan and any amendments to Section 3(a) of the Plan. Notwithstanding the foregoing, the Stock Option is not awarded under the Plan and the grant of the Stock Option and issuance of any share of Stock pursuant to exercise of the Stock Option shall not reduce the number of shares of Stock available for issuance under awards pursuant to the Plan. Except as otherwise defined herein, all capitalized terms used herein have the same meaning as in the Plan.

On the Grant Date specified above, the Company granted the Stock Option to the Optionee to purchase, on or prior to the Expiration Date specified above, all or part of the number of shares of Common Stock, par value $0.0001 per share (the "Stock") of the Company specified above at the Option Exercise Price per Share specified above subject to the terms and conditions set forth herein and in the Plan.

The Stock Option evidenced by this Agreement is a non-qualified stock option (that is, an option that is not intended to qualify as an incentive stock option) and is granted to the Participant in connection with the Participant's employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Exercisability Schedule</u>. No portion of this Stock Option may be exercised until such portion shall have become exercisable. Except as set forth below, and subject to the

------

discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be exercisable with respect to the following number of Option Shares on the dates indicated so long as Optionee remains in a Service Relationship with the Company or a Subsidiary on such dates:

25% vesting one year from [Vesting Start Date], and thereafter in equal monthly installments for thirty-six (36) months over the subsequent three years.

Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration Date, subject to the provisions hereof and of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Manner of Exercise</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be purchased.

Payment of the purchase price for the Option Shares may be made by one or more of the following methods: (i) in cash, by certified or bank check or other instrument acceptable to the Administrator; (ii) through the delivery (or attestation to the ownership) of shares of Stock that have been purchased by the Optionee on the open market or that are beneficially owned by the Optionee and are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required by the Administrator; (iii) by the Optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option purchase price, provided that in the event the Optionee chooses to pay the option purchase price as so provided, the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator shall prescribe as a condition of such payment procedure; (iv) by a "net exercise" arrangement pursuant to which the Company will reduce the number of shares of Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price; or (v) a combination of (i), (ii), (iii) and (iv) above. Payment instruments will be received subject to collection.

The transfer to the Optionee on the records of the Company or of the transfer agent of the Option Shares will be contingent upon (i) the Company's receipt from the Optionee of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and (iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of Stock transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The shares of Stock purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such transfer and with the requirements hereof and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares to the Optionee, and the Optionee's name shall have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The minimum number of shares with respect to which this Stock Option may be exercised at any one time shall be 100 shares, unless the number of shares with respect to which this Stock Option is being exercised is the total number of shares subject to exercise under this Stock Option at the time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Termination of Service Relationship</u>. If the Optionee's Service Relationship with the Company or a Subsidiary (as defined in the Plan) is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Termination Due to Death</u>. If the Optionee's Service Relationship terminates by reason of the Optionee's death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee's legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Termination Due to Disability</u>. If the Optionee's Service Relationship terminates by reason of the Optionee's disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination of his or her Service Relationship, may thereafter be exercised by the Optionee for a period of 12 months from the date of disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of disability shall terminate immediately and be of no further force or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Termination for Cause</u>. If the Optionee's Service Relationship terminates for Cause, any portion of this Stock Option outstanding on such date shall terminate immediately and be of no further force and effect. For purposes hereof, "Cause" shall mean, unless otherwise provided in an employment agreement between the Company and the Optionee, a determination

------

by the Administrator that the Optionee shall be dismissed as a result of (i) any material breach by the Optionee of any agreement between the Optionee and the Company; (ii) the conviction of, indictment for or plea of nolo contendere by the Optionee to a felony or a crime involving moral turpitude; or (iii) any material misconduct or willful and deliberate non-performance (other than by reason of disability) by the Optionee of the Optionee's duties to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Other Termination</u>. If the Optionee's Service Relationship terminates for any reason other than the Optionee's death, the Optionee's disability or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option outstanding on such date may be exercised, to the extent exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination shall terminate immediately and be of no further force or effect.

The Administrator's determination of the reason for termination of the Optionee's Service Relationship shall be conclusive and binding on the Optionee and his or her representatives or legatees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Provisions of the Plan</u>. By accepting all or any part of the Stock Option, the Optionee agrees to be bound by the terms and conditions set forth in this Agreement and incorporated herein by reference to the Plan. A copy of the Plan as in effect on the Date of Grant has been made available to the Participant. Except as otherwise expressly provided herein, in the event of any conflict between the terms of this Agreement and the provisions of the Plan incorporated herein by reference, such provisions of the Plan will control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Transferability</u>. This Agreement is personal to the Optionee, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee's lifetime, only by the Optionee, and thereafter, only by the Optionee's legal representative or legatee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Tax Withholding</u>. The Optionee shall, not later than the date as of which the exercise of this Stock Option becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by withholding from shares of Stock to be issued to the Optionee a number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>No Obligation to Continue Service Relationship</u>. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Optionee in his or her Service Relationship and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the Service Relationship of the Optionee at any time.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Integration</u>. This Agreement constitutes the entire agreement between the parties with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Data Privacy Consent</u>. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the "Relevant Companies") may process any and all personal or professional data, including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the "Relevant Information"). By entering into this Agreement, the Optionee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Optionee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Optionee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Notices</u>. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing.

---

| | |
|:---|:---|
| **CULLINAN ONCOLOGY, INC.** | **CULLINAN ONCOLOGY, INC.** |
| By: |  |
|  | Title: |

---

The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned. Electronic acceptance of this Agreement pursuant to the Company's instructions to the Optionee (including through an online acceptance process) is acceptable.

---

| | |
|:---|:---|
|  Dated:<u> </u> | |
|  | Optionee's Signature |
|  | Optionee's name and address: |

---

## Ex-Filing

**Exhibit 107.1** 

**Calculation of Filing Fee Tables** 

**Form S-8** 

(Form Type)

**Cullinan Oncology, Inc.** 

(Exact Name of Registrant as Specified in its Charter)

Table 1: Newly Registered Securities

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Security Type** | **Security**<br> **Class**<br> **Title** | **Fee Calculation<br>Rule** | **Proposed<br>Maximum<br>Offering<br>Price Per<br>Unit <sup>(3)</sup>** | **Maximum**<br> **Aggregate**<br> **Offering**<br> **Price** | **Fee**<br> **Rate** | **Amount of<br>Registration<br>Fee** |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br>par value per share | Rule 457(h)129100 <sup>(4)</sup> | $10.99 | $1418809.00 | 0.00011020 | $156.35 |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br> par value per share | Rule 457(h)150000 <sup>(5)</sup> | $12.04 | $1806000.00 | 0.00011020 | $199.02 |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br> par value per share | Rule 457(h)207000 <sup>(6)</sup> | $10.53 | $2179710.00 | 0.00011020 | $240.20 |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br>par value per share | Rule 457(h)174000 <sup>(7)</sup> | $11.34 | $1973160.00 | 0.00011020 | $217.44 |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br> par value per share | Rule 457(h)70000 <sup>(8)</sup> | $12.93 | $905100.00 | 0.00011020 | $99.74 |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br> par value per share | Rule 457(h)137700 <sup>(9)</sup> | $13.30 | $1831410.00 | 0.00011020 | $201.82 |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br> par value per share | Rule 457(h)190000 <sup>(10)</sup> | $14.16 | $2690400.00 | 0.00011020 | $296.48 |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br> par value per share | Rule 457(h)125700 <sup>(11)</sup> | $13.02 | $1636614.00 | 0.00011020 | $180.35 |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br> par value per share | Rule 457(h)242000 <sup>(12)</sup> | $12.83 | $3104860.00 | 0.00011020 | $342.16 |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br> par value per share | Rule 457(h)147000 <sup>(13)</sup> | $13.26 | $1949220.00 | 0.00011020 | $214.80 |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br> par value per share | Rule 457(h)86000 <sup>(14)</sup> | $12.26 | $1054360.00 | 0.00011020 | $116.19 |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br> par value per share | Rule 457(h)37000 <sup>(15)</sup> | $10.68 | $395160.00 | 0.00011020 | $43.55 |
| &nbsp;&nbsp;&nbsp;Equity | Common stock, $0.0001<br> par value per share | Rule 457(h)56000 <sup>(16)</sup> | $11.58 | $648480.00 | 0.00011020 | $71.46 |
| &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** |  | $21593283.00 |  | $2379.56 |
| &nbsp;&nbsp;&nbsp;**Total Fee Offsets <sup>(17)</sup>** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets <sup>(17)</sup>** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets <sup>(17)</sup>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** |  |  |  | $2379.56 |

---

(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this
registration statement on Form S-8 ("Registration Statement") shall be deemed to cover any additional shares of the common stock of Cullinan Oncology, Inc. (the "Registrant") that become
issuable in respect of the securities identified in the above table by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the Registrant's receipt of consideration that results in an
increase in the number of the outstanding shares of the Registrant's common stock.

(2) Consists of shares of common stock of the Registrant issuable under new hire inducement stock option awards
granted between April 2022 and February 2023 to certain employees of the Registrant as an inducement material to entry into employment with the Registrant in accordance with Nasdaq Listing Rule 5635(c)(4).

(3) Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h) of the Securities
Act. The proposed maximum offering price per share and the maximum aggregate offering price are calculated based on the exercise price of the options outstanding under the applicable inducement stock option awards.

(4) The inducement stock option awards were granted on April 1, 2022 at the closing price of our common stock
on the Nasdaq Global Select Market on such date.

(5) The inducement stock option award was granted on April 4, 2022 at the closing price of our common stock on
the Nasdaq Global Select Market on such date.

(6) The inducement stock option awards were granted on May 2, 2022 at the closing price of our common stock on
the Nasdaq Global Select Market on such date.

(7) The inducement stock option awards were granted on June 1, 2022 at the closing price of our common stock
on the Nasdaq Global Select Market on such date.

(8) The inducement stock option awards were granted on July 1, 2022 at the closing price of our common stock
on the Nasdaq Global Select Market on such date.

(9) The inducement stock option awards were granted on August 1, 2022 at the closing price of our common stock
on the Nasdaq Global Select Market on such date.

(10) The inducement stock option award was granted on August 15, 2022 at the closing price of our common stock
on the Nasdaq Global Select Market on such date.

(11) The inducement stock option awards were granted on September 1, 2022 at the closing price of our common
stock on the Nasdaq Global Select Market on such date.

(12) The inducement stock option awards were granted on October 3, 2022 at the closing price of our common
stock on the Nasdaq Global Select Market on such date.

(13) The inducement stock option awards were granted on November 1, 2022 at the closing price of our common
stock on the Nasdaq Global Select Market on such date.

(14) The inducement stock option awards were granted on December 1, 2022 at the closing price of our common
stock on the Nasdaq Global Select Market on such date.

(15) The inducement stock option awards were granted on January 3, 2023 at the closing price of our common
stock on the Nasdaq Global Select Market on such date.

(16) The inducement stock option awards were granted on February 1, 2023 at the closing price of our common
stock on the Nasdaq Global Select Market on such date.

(17) The Registrant does not have any fee off-sets.