Jean-Pierre Sommadossi - Jan 31, 2024 Form 4 Insider Report for Atea Pharmaceuticals, Inc. (AVIR)

Signature
/s/ Andrea Corcoran, as Attorney-in-Fact for Jean-Pierre Sommadossi
Stock symbol
AVIR
Transactions as of
Jan 31, 2024
Transactions value $
-$218,819
Form type
4
Date filed
2/2/2024, 09:30 PM
Previous filing
Mar 3, 2023
Next filing
Jun 7, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVIR Common Stock Options Exercise +173K 173K Jan 31, 2024 Direct F1
transaction AVIR Common Stock Sale -$219K -56.9K -32.81% $3.85 117K Feb 1, 2024 Direct F2
holding AVIR Common Stock 5.93M Jan 31, 2024 Held by JPM Partners LLC

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction AVIR Restricted Stock Units Options Exercise $0 -173K -33.33% $0.00 347K Jan 31, 2024 Common Stock 173K Direct F1, F3
transaction AVIR Stock Option (Right to Buy) Award $0 +448K $0.00 448K Jan 31, 2024 Common Stock 448K $4.16 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock.
F2 Shares were sold solely to cover taxes upon the vesting of restricted stock units pursuant to a standing Rule 10b5-1 instruction dated May 18, 2023.
F3 The original grant of 520,400 RSUs vested or will vest in three (3) equal annual installments on the first three anniversaries of January 31, 2023 such that the RSUs are fully vested on January 31, 2026.
F4 The option vests and becomes exercisable in forty-eight (48) equal monthly installments following January 31, 2024 such that the option is fully vested on January 31, 2028.