MacLean Michael F 4

What Happened Michael F. MacLean, Chief Financial Officer of Avidity Biosciences (RNAM), disposed of a total of 721,352 securities on 2026-02-27 pursuant to the company’s merger agreement with Novartis. The report shows a disposition of 133,977 shares of common stock (including RSU-settled shares) and 587,375 derivative securities (options/other) that were cashed out under the merger. The merger consideration is $72.00 per share; valuing all disposed securities at $72 would equal about $51.9 million. The Form 4 reports the disposals as “to the issuer” under the Merger Agreement (prices are shown as N/A in the filing for the listed entries).

Key Details

• Transaction date: 2026-02-27 (filing date matches transaction date; no late filing indicated in the provided excerpt).
• Securities disposed: 721,352 total — 133,977 common stock (incl. RSU-settled shares) + 587,375 derivatives (options etc.).
• Merger consideration: $72.00 per share (for common stock).
• Options treatment: Options were cashed out per the Merger Agreement for a cash payment equal to the excess of $72.00 over each option’s exercise price (exact option exercise prices and resulting cash per option not listed in the excerpt).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 confirms common shares (and RSU-settled shares) were disposed under the Agreement and Plan of Merger; F2 confirms options were cashed out for the $72 minus exercise-price spread.

Context These were not open-market sales but disposals required by the Merger Agreement with Novartis (i.e., conversion/cash-out in connection with the acquisition). Such corporate-transaction-driven dispositions differ from routine insider sell orders and do not necessarily indicate independent trading sentiment by the insider.