Boyce Sarah 4

What Happened Sarah Boyce, President, CEO and Director of Avidity Biosciences (RNAM), reported dispositions to the issuer on 2026-02-27 totaling 2,650,876 shares (including common stock/RSUs and derivative option settlements). The transactions were made pursuant to the Agreement and Plan of Merger with Novartis; the merger consideration is $72.00 per share. Based on the $72 merger price, the common-stock portion of these dispositions implies roughly $190.9 million in aggregate value; option awards were cash‑settled for the excess of $72.00 over each option’s exercise price (so the option cash amounts vary by strike).

Key Details

• Transaction date: 2026-02-27; Form 4 filed 2026-02-27 (timely).
• Reported dispositions (total): 2,650,876 shares across multiple line items (some listed as derivative/option settlements).
• Price on Form 4: shown as N/A; merger consideration stated as $72.00 per share in the filing/footnotes.
• Estimated aggregate value at $72.00: ≈ $190,863,072 (note: exact cash for options = $72.00 minus each option’s exercise price).
• Transaction code: D (Disposition to issuer under the Merger Agreement).
• Footnotes: F1 — common stock (includes RSUs) disposed pursuant to Merger Agreement; F2 — options were disposed for cash equal to excess of $72.00 over exercise price.
• Shares owned after transaction: not specified in the provided summary of the Form 4 (check the full filing for post‑transaction beneficial ownership).

Context

• These were not open‑market sales but merger cash‑out dispositions; options were net‑settled (cash payment), not exercised-and-held. Such transactions are often liquidity/transaction-driven due to an acquisition rather than routine trading decisions.
• No indication in the provided filing of a 10b5-1 plan, gift, or tax‑withholding event; review the full Form 4 for any additional disclosures.