LEVIN ARTHUR A 4

What Happened Arthur A. Levin, a director of Avidity Biosciences (RNAM), disposed of a total of 443,457 shares/equivalents on 2026-02-27 pursuant to the Agreement and Plan of Merger with Novartis. The filings show 147,934 shares of common stock (including shares issuable on previously reported RSUs) were converted under the merger consideration of $72.00 per share (≈ $10.65 million). The remaining 295,523 share‑equivalents were option/derivative interests that were cashed out under the merger agreement; option payouts were equal to the excess of the $72.00 merger consideration over each option’s exercise price (individual option payout amounts not disclosed).

Key Details

• Transaction date: 2026-02-27; Form 4 filed the same day (timely).
• Reported disposals: total 443,457 shares/equivalents (147,934 common/RSU shares; 295,523 derivative/options).
• Cash consideration: common/RSU portion cashed at $72.00/share (~$10.65M). Options were cash‑settled for the difference between $72 and their exercise prices (exact option cash amounts not provided).
• Filing shows "Disposition to the issuer (D)" under the Merger Agreement with Novartis (Agreement dated Oct 25, 2025).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context These were not open‑market sales but dispositions required by a change‑of‑control merger: common shares/RSUs were converted at the stated merger price and options were cash‑settled per the merger terms. Such transactions reflect deal consideration rather than an independent trading decision by the insider.