Jill Carroll - 01 May 2026 Form 4 Insider Report for Avalyn Pharma Inc. (AVLN)

Reporting relationship: Director
Issuer ticker: AVLN
Reported as of: 01 May 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 01 May 2026, 18:50:38 UTC
Prior SEC filing: 29 Apr 2026
Source filing: View source filing
Reporting owner signature: /s/ Sasha Keough, attorney-in-fact for Jill Carroll

Key filing fact

Jill Carroll filed Form 4 for Avalyn Pharma Inc. (AVLN) on 01 May 2026.

Key facts

This page summarizes Jill Carroll's Form 4 filing for Avalyn Pharma Inc. (AVLN).
5 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 01 May 2026, 18:50.

Change

Previous filing in this sequence was filed on 29 Apr 2026.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001598542 Primary reporting owner

Carroll Jill

Relationship: Director
Address: 929 MAIN STREET, SUITE 200, REDWOOD CITY
Signature: /s/ Sasha Keough, attorney-in-fact for Jill Carroll
Signature date: 01 May 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

AVLN transaction

Common Stock

Conversion of derivative security

Transaction value
Shares: +1,419,298
Change %
Price
Shares after: 1,419,298
Date: 01 May 2026
Ownership: See Note 2
Footnotes: F1, F2

AVLN transaction

Common Stock

Conversion of derivative security

Transaction value
Shares: +489,486
Change %: +34%
Price
Shares after: 1,908,784
Date: 01 May 2026
Ownership: See Note 2
Footnotes: F2, F3

AVLN transaction

Common Stock

Purchase

Transaction value
Shares: +277,778
Change %: +15%
Price: $18.00^*
Shares after: 2,186,562
Date: 01 May 2026
Ownership: See Note 2
Footnotes: F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

AVLN transaction Derivative

Series C-1 Convertible Preferred Stock

Conversion of derivative security

Transaction value
Shares: -27,309,719
Change %: -100%
Price
Shares after: 0
Date: 01 May 2026
Ownership: See Note 2
Underlying class: Common Stock
Underlying amount: 1,419,298
Exercise price
Footnotes: F1, F2

AVLN transaction Derivative

Series D Convertible Preferred Stock

Conversion of derivative security

Transaction value
Shares: -9,418,561
Change %: -100%
Price
Shares after: 0
Date: 01 May 2026
Ownership: See Note 2
Underlying class: Common Stock
Underlying amount: 489,486
Exercise price
Footnotes: F2, F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

On May 1, 2026, each share of Series C-1 Convertible Preferred Stock (the "Series C-1 Preferred Stock") automatically converted into shares of Common Stock on a one-for-19.2417 basis without payment of further consideration immediately prior to the closing of the Issuer's initial public offering. The Series C-1 Preferred Stock had no expiration date.

Footnote F2

The securities are directly held by SR One Capital Fund II Aggregator, LP ("SR One Fund II Aggregator"). SR One Capital Partners II, LP ("SR One Partners II") serves as the general partner of SR One Fund II Aggregator, and SR One Capital Management, LLC serves as the general partner of SR One Partners II. The Reporting Person is a partner of SR One Capital Management, LP, an entity affiliated with SR One Fund II Aggregator, and a limited partner of SR One Partners II. The Reporting Person disclaims beneficial ownership of these securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended ("Section 16"), except to the extent of her pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for Section 16 or any other purpose.

Footnote F3

On May 1, 2026, each share of Series D Convertible Preferred Stock (the "Series D Preferred Stock") automatically converted into shares of Common Stock on a one-for-19.2417 basis without payment of further consideration immediately prior to the closing of the Issuer's initial public offering. The Series D Preferred Stock had no expiration date.