Sommadossi Jean-Pierre 4

What Happened

• Jean‑Pierre Sommadossi, President, CEO and Chairman of Atea Pharmaceuticals (AVIR), had equity awards convert and exercised options. On Jan 31, 2026 a batch of RSUs/PSUs vested and were converted into shares; 106,093 of those vested shares were surrendered/withheld to satisfy tax withholding, producing $449,834. On Feb 3, 2026 he exercised options for 300,000 shares at an exercise price of $1.24, paying $372,000 in cash.
• The filing also shows additional administrative derivative conversion entries (zero‑price entries) related to RSU/PSU settlement and a one‑share rounding correction noted in the footnotes.

Key Details

• Transaction dates/prices:
  • Jan 31, 2026: RSUs/PSUs vested and converted to shares (footnotes F1–F4). 272,983 shares reported as issued from derivative conversion; 106,093 shares were surrendered/withheld to cover taxes (disposed) for $449,834.
  • Feb 3, 2026: Exercise of options for 300,000 shares at $1.24 per share; cash paid = $372,000. (Option fully vested per F5.)
• Shares owned after transaction: not specified in the provided filing details.
• Footnotes:
  • F1–F4: RSUs represent contingent rights to shares; original RSU grant vested in three equal annual installments and was fully vested as of Jan 31, 2026; performance criteria for certain PSUs were satisfied; one‑share rounding correction.
  • F5: The option exercised is fully vested and exercisable.
• Filing/timeliness: Form 4 was filed Feb 3, 2026 (reporting activity dated Jan 31 and Feb 3). No late filing flag is shown in the provided data.

Context

• The Jan 31 entries reflect compensation vesting (RSUs/PSUs); the 106,093 surrendered shares represent tax withholding, a routine administrative transaction that reduces the net shares received from vesting. The Feb 3 option exercise was a cash exercise (he paid $1.24 per share) rather than an immediate open‑market sale; aside from shares withheld for taxes, there is no indication in this filing that the exercised shares were sold on the open market.
• Purchases/exercises (paying cash to acquire shares) can be interpreted by some investors as a vote of confidence, but vesting and withholding transactions are often routine compensation events.