Horga Maria Arantxa 4

What Happened

• Maria Arantxa Horga, Chief Medical Officer of Atea Pharmaceuticals (AVIR), had derivative awards convert and new/vested restricted stock units (RSUs) reported on Jan 31, 2026. The filing shows a grant/acquisition of 173,500 RSU-equivalent shares (performance/vesting), an exercise/conversion of 51,283 derivative shares, and disposals of 16,073 shares to satisfy tax withholding ($4.24 per share; $68,150 total). Two other derivative-disposal line items (41,533 and 9,750 shares) equal the 51,283 conversion amount and are reported at $0.00 (derivative-related settlement), consistent with net settlement or conversion activity rather than an open-market sale. Net reported increase in Horga’s holdings on the filing = +157,427 shares (224,783 acquired − 67,356 withheld/removed).

Key Details

• Transaction date: January 31, 2026; Form 4 filed February 3, 2026 (timely filing).
• Reported items:
  • Grant/Award (A): 173,500 RSU-equivalent shares acquired (performance/vesting), $0.00 price.
  • Exercise/Conversion (M): 51,283 shares acquired (derivative conversion).
  • Tax withholding/payment (F): 16,073 shares withheld/paid at $4.24 = $68,150.
  • Derivative disposals (M): 41,533 and 9,750 shares reported disposed at $0.00 (total 51,283).
• Shares owned after the transactions: Not specified in the excerpt of the filing provided; net reported increase = +157,427 shares.
• Notable footnotes:
  • F1–F3: RSUs represent contingent rights to receive one share each; prior RSU grants (including performance RSUs) vested/paid on Jan 31, 2026.
  • F4: A related option will vest monthly over 48 months beginning Jan 31, 2026 (fully vested Jan 31, 2030).
• Filing timeliness: Filed Feb 3, 2026 for Jan 31 transactions — appears timely under the Form 4 two-business-day rule.

Context

• This activity is largely vesting/conversion of RSUs and related derivative settlement, not a classic open‑market buy or sell. The 16,073-share line at $4.24 is a tax-withholding event (shares withheld to cover taxes), while the $0.00 disposals typically reflect net settlement/cancellation tied to option or RSU conversion rather than proceeds from a market sale. Vesting of RSUs and performance RSUs is a routine compensation event but increases insider share ownership, which investors often view as a neutral-to-positive sign of alignment with shareholder outcomes.