Donovan Joanne M. 4
4 · Edgewise Therapeutics, Inc. · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Edgewise (EWTX) CMO Joanne Donovan Sells Shares After Option Exercise
What Happened
Joanne M. Donovan, Chief Medical Officer of Edgewise Therapeutics (EWTX), exercised 28,662 stock options and immediately sold the resulting 28,662 shares on Apr 1, 2026. The exercise recorded an aggregate cost of $202,927 (exercise price $7.08/share). The open-market sale totaled approximately $926,095 at an average price of $32.31/share.
Key Details
- Transaction date: April 1, 2026 (Form 4 filed Apr 2, 2026; period of report Apr 1, 2026). No indication in the provided filing that it was late.
- Option exercise: 28,662 shares acquired at $7.08 each (aggregate $202,927).
- Sale: 28,662 shares sold in the open market at an average price of $32.31 ($926,095); sale prices ranged $32.00–$32.60 per footnote.
- Derivative reporting: A corresponding derivative disposition at $0.00 reflects the option conversion/surrender upon exercise.
- Shares owned after transaction: Not specified in the provided filing.
- Notable footnotes:
- F1: Sales were effected under a pre-arranged Rule 10b5-1 trading plan adopted Dec 26, 2025.
- F2: Average sale price; shares sold in multiple trades between $32.00 and $32.60.
- F3: Options vest at 1/48th per month beginning Sep 17, 2023, subject to continued service.
Context
Because the shares were exercised and then sold the same day, this is effectively a cashless exercise (option exercise followed by immediate sale). The sale was executed under a 10b5-1 plan, meaning it was pre-authorized and likely not a discretionary, real-time decision by the insider. This is a routine insider liquidity event rather than a straightforward open-market purchase (which some investors view as a stronger bullish signal).
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-04-01$7.08/sh+28,662$202,927→ 38,259 total - Sale
Common Stock
[F1][F2]2026-04-01$32.31/sh−28,662$926,095→ 9,597 total - Exercise/Conversion
Stock Option (Right to Buy)
[F3]2026-04-01−28,662→ 125,000 totalExercise: $7.08Exp: 2033-08-17→ Common Stock (28,662 underlying)
Footnotes (3)
- [F1]The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on December 26, 2025.
- [F2]The price reported in column 4 is an average price. These shares were sold in multiple transactions at prices ranging from $32.00 to $32.60, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F3]1/48th of the shares subject to the option vest each month beginning on September 17, 2023, subject to the Reporting Person continuing as a service provider through each vest date.