Doyle Mittie 4

What Happened
Doyle Mittie, Chief Medical Officer of Avalo Therapeutics (AVTX), was reported as acquiring 43,500 shares on May 21, 2026 as an award (transaction code A). The filing shows an acquisition price of $0.00 (award/PSU), so the reported cash value of the transaction is $0. These shares represent performance stock units (PSUs) originally granted on August 19, 2025; the company’s Compensation Committee certified achievement of the performance goals on May 21, 2026.

Key Details

• Transaction date: May 21, 2026; Form 4 filed May 26, 2026.
• Transaction type/price: Award/Grant (A) — 43,500 shares at $0.00 (no cash paid).
• Vesting: The PSUs “shall fully vest” on August 19, 2028, subject to Mittie’s continued service on that date (per footnote F1).
• Shares owned after transaction: Not disclosed in the provided filing.
• Footnote: Confirms PSUs were granted Aug 19, 2025; performance goals certified May 21, 2026, but actual vesting is time-based to Aug 19, 2028.
• Filing timeliness: The Form 4 was filed five days after the reported transaction date; this appears later than the standard two-business-day deadline for Form 4s.

Context
This was a compensation award (PSUs), not an open-market purchase or sale. PSUs are contingent rights that convert to shares only upon attainment of performance conditions and satisfaction of vesting/service requirements, so these are not immediately tradeable shares. Awards like this are standard executive compensation and do not, by themselves, indicate personal buying or selling sentiment.