Moriarty John B 4

What Happened

• John B. Moriarty, Chief Legal Officer of Avidity Biosciences (RNAM), disposed of a total of 302,054 economic interests on 2026-02-27 in connection with the Novartis merger. That total consists of 92,054 shares of common stock (includes shares issuable on previously reported RSUs) and 210,000 derivative instruments (50,000 + 160,000 options) that were settled pursuant to the Agreement and Plan of Merger.
• The common stock portion was disposed at the merger consideration of $72.00 per share (92,054 × $72 ≈ $6,627,888). The options were cashed out under the merger for a cash payment equal to the excess of the $72.00 merger consideration over each option’s exercise price; the filing does not report the dollar amount received for the options.

Key Details

• Transaction date: 2026-02-27 (all items listed as “Disposition to the issuer”).
• Price: Common stock portion at $72.00 per share (merger consideration). Option settlement amount = $72.00 minus each option’s exercise price (individual amounts not disclosed).
• Shares/options disposed: 92,054 common shares; 50,000 and 160,000 derivative instruments (total 210,000).
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: F1 clarifies common shares include RSU-settled shares; F2 explains options were cashed out for the excess of $72 over exercise price per the Merger Agreement.
• Filing timeliness: No late-filing flag reported in the provided data.

Context

• These were not open-market sales but dispositions required or effected under the Merger Agreement with Novartis (a corporate transaction). The options were settled for cash rather than converted into shares (i.e., a cash-out of in-the-money options).
• Such merger-related surrenders are routine and reflect deal consideration rather than directional insider trading sentiment.