NEIL GARRY ARTHUR 4

What Happened Neil Garry Arthur, CEO of Avalo Therapeutics, was reported as acquiring 100,200 shares (recorded as an award/acquisition) on May 21, 2026 at $0.00 per share. These are performance stock units (PSUs) originally granted August 19, 2025; the Compensation Committee certified the applicable performance goals on May 21, 2026. The PSUs carry no immediate cash proceeds and will fully vest on August 19, 2028, subject to Mr. Arthur’s continued service on that vesting date.

Key Details

• Transaction date: May 21, 2026; Report filed: May 26, 2026 (appears 1 business day late vs. the 2-business-day Form 4 deadline).
• Transaction type/code: A (Award/Grant/Other acquisition); 100,200 shares @ $0.00 reported.
• Shares owned after transaction: Not disclosed in the filing.
• Footnote: The award represents PSUs granted 8/19/2025; performance was certified 5/21/2026 and vesting is scheduled for 8/19/2028, conditional on continued service.
• No indication in the filing of tax withholding, sales, or immediate cashless exercise.

Context This was a performance-based equity award (PSUs), not an open-market purchase or sale. PSUs are contingent rights to receive shares if performance and service conditions are met; they do not represent immediately tradable shares until vested and issued. Such awards reward achievement of company goals and retention, but they are not an immediate cash or liquidity event for the insider.