Kaye Edward M. MD 4

What Happened Dr. Edward M. Kaye, a director of Avidity Biosciences (RNAM), disposed of a total of 110,072 securities on 2026-02-27 pursuant to the companies' Merger Agreement with Novartis. The Form 4 reports multiple dispositions to the issuer (code D): eight line items totaling 110,072 shares (includes common stock and shares issuable on settlement of previously reported RSUs) and option-related disposals. The filing shows N/A for per-share prices, but the Merger Agreement sets the merger consideration at $72.00 per share—giving an implied gross value of roughly $7.9 million for 110,072 shares. Option awards were cashed out under the deal for an amount equal to the excess of the $72 merger price over each option’s exercise price.

Key Details

• Transaction date: 2026-02-27 (all reported dispositions)
• Reported disposals (summed): 110,072 shares/options
• Reported prices on Form 4: N/A; Merger consideration = $72.00/share (implied value ≈ $7.9M)
• Footnotes: F1 — common stock and RSU-settled shares disposed under the Merger Agreement; F2 — options were cashed out for the $72.00 minus exercise price
• Shares owned after the transactions: not specified in the provided filing summary
• Filing timeliness: filing date equals report date (timely)

Context These dispositions are not open‑market sales but transfers to the issuer and cash settlements triggered by the Merger Agreement (i.e., merger consideration and option cash‑outs). That structure is common in acquisitions when outstanding equity awards and RSUs are converted or cashed out; it reflects deal mechanics rather than a stand‑alone insider sale.