Flanagan W. Michael 4

What Happened
Michael Flanagan, Chief Scientific Officer of Avidity Biosciences (RNA), sold two blocks of common stock on January 21, 2026: 3,976 shares and 2,558 shares at $72.45 per share. Proceeds were $288,061 and $185,327, respectively — a combined total of approximately $473,388. These were sales, not purchases, and were reported on a Form 4 filed January 23, 2026.

Key Details

• Transaction date(s) and price: 2026-01-21, $72.45 per share (both lots).
• Shares sold: 3,976 + 2,558 = 6,534 shares. Total proceeds ≈ $473,388.
• Transaction code: S (Sale). Footnote F1 indicates these were sell-to-cover shares sold to satisfy tax withholding on RSUs that vested Jan 20, 2026.
• 10b5-1/automatic instruction: The reporting person executed an instruction letter for automatic sale intended to satisfy the affirmative defense conditions of Rule 10b5-1; the filing states the sale was mandated by the issuer’s sell-to-cover election and was not a discretionary trade.
• Shares owned after transaction: not specified in the excerpt provided (see full Form 4 for holdings).
• Filing timeliness: Form 4 filed Jan 23, 2026 — appears to be within the standard 2-business-day window for reporting Form 4 transactions.

Context
Sell-to-cover transactions are routine when restricted stock units vest and do not necessarily indicate an insider’s view on the company’s prospects. Because these sales were mandated to cover tax withholding and processed under an automatic/10b5-1 instruction, they are generally considered less informative about insider sentiment than voluntary open-market sales or purchases.