Braden M. Leonard - 01 Dec 2025 Form 4 Insider Report for Adverum Biotechnologies, Inc. (ADVM)

Role: 10%+ Owner
Signature: Braden M Leonard
Issuer symbol: ADVM
Transactions as of: 01 Dec 2025
Net transactions value: -$2,407,833
Form type: 4
Filing time: 03 Dec 2025, 21:39:32 UTC
Previous filing: 07 Oct 2025
Next filing: 05 Dec 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Leonard Braden Michael	10%+ Owner	65 E CEDAR - SUITE 2, ZIONSVILLE	Braden M Leonard	03 Dec 2025	0001373603

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ADVM	Common Stock	Sale	$1,260,000	-300,000	-9.8%	$4.20	2,757,526	01 Dec 2025	Holdings of BML Investment Partners, L.P	F1, F2
transaction	ADVM	Common Stock	Sale	$218,236	-51,961	-1.9%	$4.20	2,705,565	02 Dec 2025	Holdings of BML Investment Partners, L.P	F1, F3
transaction	ADVM	Common Stock	Sale	$929,597	-222,925	-8.4%	$4.17	2,428,640	03 Dec 2025	Holdings of BML Investment Partners, L.P	F1, F4
holding	ADVM	Common Stock						191,800	01 Dec 2025	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	BML Capital Management, LLC ("BML Capital") serves as the general partner of BML Investment Partners, L.P., a Delaware limited partnership (the "Fund"), which is the direct owner of the subject shares. Mr. Leonard is the managing member of BML Capital, and exercises investment and voting control over the subject shares. Accordingly, shares owned directly by the Fund may be regarded as being beneficially owned by Mr. Leonard. Notwithstanding, Mr. Leonard disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
F2	Represents shares sold in multiple transactions at a price of $4.20 per share. The reporting person will provide, upon request by the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the transactions at the price sold.
F3	Represents shares sold in multiple transactions at a price of $4.20 per share. The reporting person will provide, upon request by the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the transactions at the price sold.
F4	Represents shares sold in multiple transactions at a price of $4.17 per share. The reporting person will provide, upon request by the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the transactions at the price sold.