Moran Kyle 4

What Happened Kyle Moran, Chief Financial Officer of Wave Life Sciences (WVE), had three transactions reported. On Feb 9, 2026 he sold 3,588 ordinary shares in an open‑market transaction at $13.45/share for proceeds of $48,259 to cover tax withholding tied to an RSU vesting. Earlier, on Feb 5, 2026 he was granted 45,625 restricted share units (RSUs) and a separate derivative award of 273,750 shares (reported as an option grant). Both awards were reported with $0 cash price (typical for equity awards).

Key Details

• Transaction dates: Awards reported Feb 5, 2026; sale reported Feb 9, 2026. Form 4 filed Feb 11, 2026 (appears timely).
• Sale: 3,588 shares disposed at $13.45 each; total proceeds $48,259. Sale was to satisfy tax withholding obligations.
• Awards: 45,625 RSUs (F1) and a 273,750‑share option/derivative grant (F4) — combined 319,375 award units.
• Vesting: RSUs vest in four equal annual installments (25% each) on Feb 8, 2027 through Feb 8, 2030 (F1). The option vests 25% on Feb 8, 2027 and then 6.25% quarterly thereafter until Feb 8, 2030 (F4).
• Net retained from the RSU vesting: 45,625 RSUs vested and 3,588 shares were sold for taxes, leaving 42,037 shares from that vesting event (as reported).
• Additional holdings note: Footnote F2 references 1,983 ordinary shares acquired Jan 14, 2026 under the 2019 Employee Share Purchase Plan.
• Reason for sale: Automatic withholding sale under the RSU agreement to cover tax obligations (F3).
• Shares owned after transaction: Total post‑transaction ownership not fully disclosed in the filing.

Context

• The sale was a routine, automatic tax‑withholding transaction tied to an RSU vesting, not an independent discretionary sell signal. The awards are typical executive compensation (RSUs and an option grant) with multi‑year vesting schedules, so most of the granted shares are subject to future vesting.