Donovan Joanne M. 4

What Happened
Joanne M. Donovan, Chief Medical Officer of Edgewise Therapeutics (EWTX), exercised 21,338 stock options and immediately sold the 21,338 shares on March 31, 2026. The options were exercised at an average strike of $7.08 per share (total cost $151,073). The shares were sold in the open market at an average price of $32.12 per share for gross proceeds of approximately $685,308, implying roughly $534,235 in proceeds over the exercise cost before taxes and fees. The underlying option position was then cancelled/converted (reported as a derivative disposition).

Key Details

• Transaction date: 2026-03-31 (Form 4 filed same day).
• Exercise: 21,338 shares exercised at $7.08 each; total exercise cost $151,073.
• Sale: 21,338 shares sold at an average price of $32.12; gross proceeds ~$685,308. Sale prices ranged $32.00–$32.35 (average reported).
• Net proceeds before taxes/fees (approx): $685,308 − $151,073 = $534,235.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes of note: sale was executed under a Rule 10b5-1 trading plan adopted Dec 26, 2025; option vesting schedule noted (1/48th vests monthly beginning Sept 17, 2023).
• Filing timeliness: Form 4 filed on the same date as the transactions (2026-03-31).

Context
This was an option exercise followed by an immediate sale of the acquired shares (a cashless-like transaction in practice). The separate derivative disposal line at $0.00 represents cancellation/conversion of the option instrument after exercise. The sale was executed under a pre-established 10b5-1 plan, which is commonly used to schedule insider sales and can limit inferences about timing or intent.