Donovan Joanne M. 4

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).