W. Michael Flanagan - Oct 1, 2024 Form 4 Insider Report for Avidity Biosciences, Inc. (RNA)

Role
CSTO
Signature
/s/ John B. Moriarty, Jr., J.D., Attorney-in-Fact
Stock symbol
RNA
Transactions as of
Oct 1, 2024
Transactions value $
-$1,304,238
Form type
4
Date filed
10/3/2024, 04:09 PM
Previous filing
Sep 23, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RNA Common Stock Options Exercise $1.67M +62.5K +73.19% $26.75 148K Oct 1, 2024 Direct F1
transaction RNA Common Stock Sale -$2.98M -62.5K -42.26% $47.62 85.4K Oct 1, 2024 Direct F1, F2

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 RNA Stock Option (Right to Buy) Options Exercise $0 -62.5K -71.43% $0.00 25K Oct 1, 2024 Common Stock 62.5K $26.75 Direct F1, F3
* 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 The option exercise and sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted on June 12, 2024 by the Reporting Person.
F2 This represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $47.00 to $48.20. The Reporting Person undertakes to provide the Issuer, any securityholder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 25% of the shares subject to the option vested on January 21, 2022, and 1/48th of the shares subject to the option shall vest monthly thereafter, subject to the Reporting Person's continuous service to the Issuer on each such vesting date.