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Avidity Biosciences, Inc. — Director's Dealing 2024
Jan 23, 2024
30894_dirs_2024-01-23_6b1de491-8b5c-4aba-97cb-d0d9dd1bce4c.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Avidity Biosciences, Inc. (RNA)
CIK: 0001599901
Period of Report: 2024-01-20
Reporting Person: Boyce Sarah (Director, President and CEO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-01-20 | Common Stock | A | 62500 | — | Acquired | 67209 | Direct |
| 2024-01-22 | Common Stock | S | 5092 | $10.13 | Disposed | 44008 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-01-20 | Stock Option (Right to Buy) | $10.16 | A | 300000 | Acquired | 2034-01-19 | Common Stock (300000) | Direct |
Footnotes
F1: Represents restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of the Issuer's common stock. The RSUs shall vest in four equal installments on the first four anniversaries of January 20, 2024, subject to the Reporting Person's continuous service to the Issuer on each such vesting date.
F2: Includes 4,709 shares previously acquired by the Reporting Person under the Avidity Biosciences, Inc. 2020 Employee Stock Purchase Plan.
F3: Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs on January 20, 2024. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell-to-cover" transaction and does not represent a discretionary trade by the Reporting Person. The Reporting Person has executed an instruction letter for the automatic sale of such "sell-to-cover" shares, intended to satisfy the affirmative defense conditions of Rule 10b5-1.
F4: 1/48th of the total number of shares subject to the options shall vest on each monthly anniversary of January 20, 2024 (the "Vesting Commencement Date"), subject to the Reporting Person's continuous service to the Issuer on each such vesting date, so that the options shall be fully vested on the fourth anniversary of the Vesting Commencement Date.