GRIFFIN MICHELLE RENEE 4

What Happened Michelle Renee Griffin, a director of Adaptive Biotechnologies (ADPT), exercised 52,084 stock options at $7.80 per share (cost ~$406,255) on June 25, 2026 and immediately sold the 52,084 shares in the open market the same day for a weighted-average price of $20.18 per share (gross proceeds ~$1,051,055). A separate derivative entry at $0 reflects the conversion/disposition of the option instrument upon exercise. This sequence (exercise then sale) is effectively a cashless exercise and sale — the exercise provided shares that were promptly sold.

Key Details

• Transaction date: June 25, 2026; Form 4 filed June 29, 2026 (timely).
• Exercise: 52,084 options exercised at $7.80 each; cash paid ≈ $406,255.
• Sale: 52,084 shares sold at a weighted-average price of $20.18; gross proceeds ≈ $1,051,055. Individual sale prices ranged $20.00–$20.55.
• Footnotes: Transactions were executed under a Rule 10b5-1 trading plan adopted Nov 7, 2025. The option was fully vested and exercisable.
• Shares owned after the transaction: Not specified in the provided filing excerpt.

Context Because the exercise and sale occurred the same day and the filing notes a 10b5-1 plan, this appears to be a prearranged (automated) sale rather than an ad-hoc market-timing trade. For retail investors, purchases generally carry more informational weight than routine, plan-driven sales; here the activity represents monetization of vested options rather than an added personal investment.