Peter Soparkar - 14 Sep 2022 Form 4 Insider Report for Adverum Biotechnologies, Inc. (ADVM)

Role
Chief Operating Officer and Chief Legal Officer
Signature
Peter Soparkar, by /s/ Ron A. Metzger, Attorney-in-Fact
Issuer symbol
ADVM
Transactions as of
14 Sep 2022
Transactions value $
$0
Form type
4
Filing time
16 Sep 2022, 18:59:14 UTC
Previous filing
20 Apr 2022
Next filing
21 Sep 2022
SEC
View on sec.gov

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 ADVM Stock Option (Right to Buy) Award $0 +164K $0.00 164K 14 Sep 2022 Common Stock 164K $1.09 Direct F1
transaction ADVM Performance Based Stock Option (Right to Buy) Award $0 +231K $0.00 231K 14 Sep 2022 Common Stock 231K $1.09 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The options will vest in equal monthly installments over three years, such that all of the shares subject to the option shall become vested and exercisable as of the third anniversary of September 14, 2022, provided the Reporting Person continues to provide Continuous Service (as defined in the Issuer's 2014 Equity Incentive Plan) on each such vesting date.
F2 All of the shares subject to the Performance Based Stock Option shall vest and become exercisable upon certification by the Compensation Committee of the Board of Directors of the Issuer that one full Nasdaq trading session has elapsed since the Issuer's public disclosure of final topline results from the LUNA Phase 2 clinical trial of ADVM-022 in wet age-related macular degeneration (the "Performance Based Stock Option Vesting Date"), provided the Reporting Person continues to provide Continuous Service (as defined in the Issuer's 2014 Equity Incentive Plan) from September 14, 2022 through the Performance Based Stock Option Vesting Date.

Remarks:

Chief Operating Officer and Chief Legal Officer