Rhodes Jason P 4

What Happened

• Jason P. Rhodes, a director of Dyne Therapeutics (DYN), sold a total of 267,760 shares in multiple open‑market transactions between June 23 and June 25, 2026, generating aggregate proceeds of approximately $5,646,497. Sales were reported at weighted prices around $21.00–$21.50 per share.
• Breakdown by date: June 23 — 147,760 shares (reported weighted price $21.13) ≈ $3,122,169; June 24 — 95,900 shares (reported weighted price $21.02) ≈ $2,015,818; June 25 — 24,100 shares (reported weighted price $21.10) ≈ $508,510.
• These were sales (not purchases). The transactions were executed pursuant to a Rule 10b5‑1 trading plan adopted March 19, 2026 (footnote F1), which typically indicates pre‑planned, automatic sales rather than discretionary trades.

Key Details

• Transaction dates: June 23, 24 and 25, 2026. Report filed with the SEC on June 26, 2026.
• Reported prices: weighted averages shown per line; individual trades in the blocks were executed at prices roughly in the $21.00–$21.50 range (see footnotes F2, F6, F7 for exact ranges).
• Total shares sold: 267,760; total proceeds: ~$5.65 million.
• Ownership after transaction: not specified in the material provided (the filing portion supplied did not list post‑transaction holdings).
• Notable footnotes:
  • F1: Sales pursuant to a 10b5‑1 plan adopted March 19, 2026.
  • F2/F6/F7: Reported prices are weighted averages; sales occurred across multiple prices within stated ranges.
  • F3–F5 and F8: Many of the reported shares are held by Atlas Venture partnership entities (e.g., Atlas Venture Fund XI, Atlas Venture Opportunity Funds); Rhodes disclaims Section 16 beneficial ownership of those partnership‑held shares except to the extent of any pecuniary interest.
• Filing timeliness: Form 4 was filed June 26, 2026 covering transactions June 23–25. Form 4s are generally due within two business days of each transaction; the filing date is after the deadline for the June 23 trades (which would have been due by June 25), though it was filed within two business days of the later trades.

Context

• These sales were executed under a prearranged 10b5‑1 plan, which is commonly used to avoid questions about trade timing; such sales are usually considered routine rather than a new personal signal of confidence or concern.
• Several of the sold shares are recorded as owned by venture fund entities controlled by Atlas Venture; Rhodes’ filing includes disclaimers that these are partnership holdings, not necessarily direct personal holdings.
• For retail investors: purchases by insiders are often more indicative of positive sentiment than routine sales; here the combination of 10b5‑1 sales and institutional/partnership holdings suggests these transactions were structured and not necessarily a direct personal directional bet on the stock.