Wave Life Sciences: 10% owner RA Capital Management received 74,700 shares

What happened

• RA Capital Management, L.P. (a 10% owner) was granted 10,700 restricted stock units and a derivative award in the form of an option covering 64,000 shares of Wave Life Sciences on Oct 5, 2026. Both awards show an acquisition price of $0.00 and a reported total value of $0.00.

Key details

• Transaction date: Oct 5, 2026; Form 4 filed Oct 7, 2026.
• Grant details: 10,700 RSUs (award code A) at $0.00; 64,000 option/derivative award (award code A, derivative) at $0.00.
• Vesting: RSUs vest 100% on the earlier of the issuer's 2027 annual meeting of stockholders or Oct 5, 2027; the option vests on the same schedule (footnotes F1, F5).
• Ownership and holding arrangement: the securities are held directly by RA Capital Healthcare Fund, L.P. (the Fund). Dr. Peter Kolchinsky, a managing partner of the adviser, holds the RSUs and options for the benefit of the Fund and must turn over any net cash or shares received upon settlement to the adviser to offset advisory fees (footnotes F2–F4). The filing disclaims beneficial ownership except to the extent of pecuniary interest.
• Shares owned after the transaction: not reported in the provided filing excerpt.

Why it may matter

• This filing reports an equity award and an option grant that vest in the future; it is not an option exercise or a cashless sale.
• The reporting party is a 10% owner (a large holder), not an executive in the company.
• A filing does not show why the insider traded or why the company acted.