VARKI PAUL 4

What Happened

• Varki Paul, Chief Legal Officer of Avalo Therapeutics (AVTX), participated in the company's Employee Stock Purchase Plan (ESPP) and acquired 5,723 shares as part of the reporting transaction. To cover tax withholding obligations related to that acquisition, 1,081 shares were surrendered/withheld and reported as disposed at $13.10 per share for a total of $14,161.
• Net effect: 5,723 shares acquired minus 1,081 shares withheld = a net increase of 4,642 shares held by the insider (based on the amounts reported).

Key Details

• Transaction date: 2026-06-10 (Period of Report); Form 4 filed 2026-06-12 (timely).
• Disposed (withheld for tax): 1,081 shares at $13.10 per share, total reported value $14,161.
• Acquired: 5,723 shares pursuant to the Issuer’s Employee Stock Purchase Plan (footnote F1).
• Shares owned after transaction: not specified in the excerpt of the filing provided.
• Footnote: F1 clarifies that the acquisition of 5,723 shares via the ESPP is part of this reporting transaction.
• Timeliness: Filed within the normal Form 4 window (not marked late).

Context

• This filing reflects a routine ESPP purchase with company shares withheld to satisfy tax withholding obligations — a common administrative disposition that does not necessarily indicate a change in insider sentiment. The withheld shares are not an open-market sale but part of the tax-payment process tied to the ESPP purchase.