VARKI PAUL 4

What Happened Varki Paul, Chief Legal Officer of Avalo Therapeutics (AVTX), was credited with 24,300 performance stock units (PSUs) on May 21, 2026. The Form 4 reports an acquisition-type award (code A) of 24,300 shares at $0.00 (no immediate cash value). The Compensation Committee certified that the applicable performance goals were met on May 21, 2026; however, the PSUs remain subject to time-based vesting and will fully vest on August 19, 2028, provided Ms. Paul remains in service on that date. No shares were delivered to the insider at filing—this is a contingent equity award, not an open-market purchase or sale.

Key Details

• Transaction date and price: May 21, 2026 — 24,300 PSUs at $0.00 per share (award, code A).
• Shares owned after transaction: Not disclosed in the Form 4 filing.
• Footnote summary: PSUs were originally granted Aug 19, 2025; performance goals were certified May 21, 2026; vesting date is Aug 19, 2028, conditioned on continued service.
• Timeliness: Form filed May 26, 2026 for a May 21 transaction — appears to have been submitted one business day after the typical two-business-day deadline.

Context PSUs are a form of equity compensation that become payable in shares if performance conditions are met; certification by the Compensation Committee means the performance hurdle was cleared, but these units still vest over time (Aug 19, 2028) and do not represent immediately tradable shares. Such awards are common executive compensation and do not by themselves indicate buying or selling intent in the market.