NEIL GARRY ARTHUR 4

What Happened
Neil Garry Arthur, CEO of Avalo Therapeutics (AVTX), had 64,866 restricted stock units (RSUs) convert into common stock on March 28, 2026. To satisfy tax withholding, 21,892 of those shares were surrendered at $13.89 per share for a tax payment of $304,080, leaving a net issuance of 42,974 shares to Arthur. The conversion shows a $0 exercise price for the derivative conversion (i.e., RSU vesting, not a paid option exercise).

Key Details

• Transaction date: March 28, 2026; Form 4 filed March 31, 2026.
• Vesting/conversion: 64,866 RSUs converted one-for-one to common stock (derivative conversion).
• Tax withholding: 21,892 shares withheld/disposed at $13.89 each, totaling $304,080.
• Net shares received: 64,866 − 21,892 = 42,974 shares issued to Arthur.
• Footnotes: F1 confirms RSUs convert one-for-one; F2 shows the original grant (Aug 13, 2024) was 194,600 RSUs vesting in three equal annual installments (Mar 28, 2025; Mar 28, 2026; Mar 28, 2027).
• Filing timeliness: Form shows filing on Mar 31, 2026 (three days after the transaction date); the Form 4 itself does not indicate a late filing flag in the provided data.

Context
This was a routine RSU vesting event tied to prior compensation (not an open-market buy or sale). The withholding of shares to cover tax obligations is common and is recorded as a disposition (code F). Such conversions represent compensation realization rather than a discretionary purchase or sale—purchases tend to be a stronger bullish signal than routine vesting.