4//SEC Filing
Boyce Sarah 4
Accession 0001599901-24-000158
CIK 0001599901other
Filed
Sep 22, 8:00 PM ET
Accepted
Sep 23, 9:01 PM ET
Size
9.9 KB
Accession
0001599901-24-000158
Insider Transaction Report
Form 4
Boyce Sarah
DirectorPresident and CEO
Transactions
- Sale
Common Stock
2024-09-23$44.00/sh−32,880$1,446,723→ 234,663 total - Award
Common Stock
2024-09-19+62,500→ 267,543 total - Award
Common Stock
2024-09-19+62,500→ 297,163 total
Footnotes (4)
- [F1]Represents performance-based restricted stock units (PSUs). Each PSU represents a contingent right to receive one share of the Issuer's common stock. The PSUs were originally granted to the Reporting Person on September 11, 2023, and are eligible to vest upon the achievement of two company performance objectives. The PSUs reflected in this row represent the portion of the award that vested as a result of the achievement of the second performance objective (the Issuer's completion of a clinical event related to del-brax) (the Performance Condition).
- [F2]Represents the number of shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of those PSUs that vested on September 19, 2024 as a result of achievement of the Performance Condition. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell-to-cover" transaction and does not represent a discretionary trade by the Reporting Person. The Reporting Person has executed an instruction letter for the automatic sale of such "sell-to-cover" shares, intended to satisfy the affirmative defense conditions of Rule 10b5-1.
- [F3]This represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $44.00 to $44.02. 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.
- [F4]As a result of the achievement of the Performance Condition, on September 19, 2024, an additional 25,000 PSUs were earned by the Reporting Person. On such date, such PSUs converted to time-based restricted stock units that will vest in full on March 19, 2025, subject to the Reporting Person's continued employment or service through such date.
Documents
Issuer
Avidity Biosciences, Inc.
CIK 0001599901
Entity typeother
Related Parties
1- filerCIK 0001629383
Filing Metadata
- Form type
- 4
- Filed
- Sep 22, 8:00 PM ET
- Accepted
- Sep 23, 9:01 PM ET
- Size
- 9.9 KB