Doyle Mittie 4

What Happened Doyle Mittie, Chief Medical Officer of Avalo Therapeutics (AVTX), exercised stock options to acquire a total of 25,492 shares on March 16, 2026 and then sold those 25,492 shares in the open market the same day. The exercises consisted of 19,500 shares at $12.65 (cost $246,675) and 5,992 shares at $8.04 (cost $48,176). The subsequent sale of 25,492 shares generated gross proceeds of about $411,607 (reported average ~$16.15 per share; prices ranged $16.00–$16.34).

Key Details

• Transaction date: March 16, 2026; Form 4 filed March 18, 2026 (timely filing).
• Option exercises (code M): 19,500 shares @ $12.65 and 5,992 shares @ $8.04 (total cash paid ≈ $294,851).
• Open-market sale (code S): 25,492 shares for total proceeds ≈ $411,607; sale prices ranged $16.00–$16.34 (reporting person can provide breakdown by price per F1).
• The filing also shows the corresponding derivative positions were cancelled/converted (exercise resulted in disposition of the derivative instruments at $0).
• Shares owned after the transactions: not specified in the provided filing.
• Vesting notes: one option tranche vests 25% on July 15, 2025 with the remainder monthly over 3 years (F2); the other vests 25% on Jan 28, 2026 with remainder monthly over 3 years (F3).

Context This was effectively a cashless exercise: the insider exercised vested options and sold the acquired shares the same day. Such same-day option exercises followed by sales are common and do not by themselves indicate broader insider opinion; they do, however, show the insider realized proceeds of roughly $116.8K (gross proceeds minus cash paid for exercises). The filing appears timely (reported two days after the trades).