Doyle Mittie 4

What Happened

• Doyle Mittie, Chief Medical Officer of Avalo Therapeutics, exercised 679 stock options and immediately sold the resulting 679 shares on May 28, 2026. He paid $8.04 per share to exercise (total cost $5,459) and sold the shares in the open market at $16.00 per share (gross proceeds $10,864), yielding a pre-tax spread of about $5,405.
• The filing shows the derivative (the option) was terminated in connection with the exercise.

Key Details

• Transaction date: May 28, 2026.
• Exercise: 679 shares at $8.04 each (total cost $5,459).
• Sale: 679 shares at $16.00 each (gross proceeds $10,864).
• Net economic result (sale proceeds minus exercise cost): ≈ $5,405 (pre-tax).
• Shares owned after transaction: not specified in the filing.
• Footnotes: The trades were made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 13, 2025 (F1). The option vesting schedule is 25% vested on Jan 28, 2026, with the remainder vesting monthly over three years subject to continued service (F2).
• Timeliness: Report filed June 1, 2026 for a May 28, 2026 transaction — appears to be filed within the SEC’s two-business-day window.

Context

• This was an option exercise followed by an immediate open-market sale (not a retained long-term buy). The reporting shows Mittie paid the strike price in cash to acquire the shares and then sold them; that pattern is commonly used to realize the option spread or cover tax/expense obligations rather than signal a position build.
• The presence of a 10b5-1 plan indicates the sale was executed according to a pre-established trading plan, which is intended to reduce questions about timing or insider knowledge.