KAPLAN GILLA 4

What Happened

• Gilla Kaplan, a director of Avalo Therapeutics, had 3,166 restricted stock units (RSUs) convert into 3,166 shares of common stock on March 28, 2026 (reported on Form 4 filed 2026-03-31). The filing shows an acquisition of 3,166 shares via conversion and a simultaneous disposition of 3,166 shares at $0.00. No cash proceeds are reported from the disposition.
• This is not a market purchase or sale for cash but a conversion/settlement of award shares; such transactions are typically administrative (e.g., vesting and withholding) rather than a directional buy or sell signal.

Key Details

• Transaction date(s): March 28, 2026; Form 4 filed March 31, 2026 (appears timely).
• Reported transactions: Acquired 3,166 shares (conversion of RSUs); Disposed 3,166 shares at $0.00 (derivative code M on the form).
• Shares owned following the reported transaction: not specified in the provided filing details.
• Relevant footnotes:
  • F1: RSUs convert into common stock on a one-for-one basis.
  • F2: On August 13, 2024, Kaplan was granted 9,500 RSUs, vesting in thirds on March 28, 2025, March 28, 2026, and March 28, 2027, subject to continued service.
• Why the $0 disposition: the filing shows a $0.00 disposition of the converted shares — a common outcome when shares are surrendered to satisfy tax withholding or similar obligations upon vesting (the filing itself does not state the exact reason).

Context

• For retail investors: this type of insider filing typically reflects routine vesting/settlement of equity awards rather than an active market purchase or sale indicating a change in insider sentiment. Purchases are generally more informative as bullish signals; conversions/withholdings are administrative.
• Transaction code M on the Form 4 indicates exercise or conversion of a derivative security; here it reflects RSU conversion into common stock per the footnotes.