BOLNO PAUL 4

What Happened
Paul Bolno, President & CEO and a director of Wave Life Sciences (WVE), was granted equity awards and also sold a small number of shares to cover taxes. On 2026-02-05 he was awarded 165,000 restricted share units (RSUs) and a derivative award covering 1,000,000 underlying shares (an option). On 2026-02-09 he sold 10,480 ordinary shares in an open-market transaction at $13.45 per share, receiving about $140,956; that sale was made to satisfy tax withholding tied to RSU vesting.

Key Details

• Grants (reported 2026-02-05): 165,000 RSUs (no cash cost at grant) and a 1,000,000-share derivative award (option) reported as acquisitions.
• Sale (reported 2026-02-09): 10,480 shares sold at $13.45 for proceeds of $140,956; sale executed solely to cover taxes associated with RSU vesting.
• Filing date: Form 4 filed with the SEC on 2026-02-11 (covers the 02-05 and 02-09 transactions).
• Shares owned after transaction: Not specified in the details provided here (see the SEC filing for total beneficial ownership).
• Notable footnotes:
  • F1: The 165,000 RSUs vest in four equal annual installments of 25% on Feb 8, 2027–Feb 8, 2030.
  • F2: The 10,480-share sale was an automatic sale under the RSU agreement to cover tax withholding.
  • F3: The derivative (option) vests 25% on Feb 8, 2027, then 6.25% quarterly thereafter until Feb 8, 2030.

Context
RSU grants and long-dated option grants are common executive compensation tools and reflect future vesting schedules rather than immediate purchases. The small open-market sale here was a tax-withholding sell-to-cover, which is routine and does not necessarily indicate a change in the insider’s view of the company. The option vesting schedule means those shares become exercisable over multiple future dates rather than immediately. For full ownership counts and exact filing text, consult the SEC accession 0001193125-26-047322.