Abiopharma

🔍 Rubinstein Linda M (Executive)

Company: Adverum Biotechnologies, Inc. (ADVM)

Report Date: 2025-12-09

Detailed Transactions and Holdings:

• Acquired 48,750 shares of Common Stock at $4.2 per share (Direct)
  Date: 2025-12-09 | Code: M | equity_swap_involved: 0 | shares_owned_after: 61,150.00 | transaction_form_type: 4 | Footnotes: F1
• Sold 61,150 shares of Common Stock (Direct)
  Date: 2025-12-09 | Code: U | equity_swap_involved: 0 | transaction_form_type: 4 | Footnotes: F2, F2
• Sold 8,125 shares of Common Stock - Restricted Stock Units (Direct)
  Date: 2025-12-09 | Code: U | equity_swap_involved: 0 | transaction_form_type: 4 | Footnotes: F2, F2
• Acquired 42,000 shares of Common Stock - Performance Stock Units (Direct)
  Date: 2025-12-09 | Code: A | equity_swap_involved: 0 | shares_owned_after: 42,000.00 | transaction_form_type: 4 | Footnotes: F5
• Sold 42,000 shares of Common Stock - Performance Stock Units (Direct)
  Date: 2025-12-09 | Code: U | equity_swap_involved: 0 | transaction_form_type: 4 | Footnotes: F2, F2
• Sold 35,000 shares of Stock Option (Right to Buy) at $10.14 per share (Derivative)
  Date: 2025-12-09 | Code: D | equity_swap_involved: 0 | transaction_form_type: 4 | Footnotes: F7, F7, F7
• Sold 85,000 shares of Stock Option (Right to Buy) at $10.14 per share (Derivative)
  Date: 2025-12-09 | Code: D | equity_swap_involved: 0 | transaction_form_type: 4 | Footnotes: F7, F7, F7
• Sold 62,083 shares of Stock Option (Right to Buy) at $7.15 per share (Derivative)
  Date: 2025-12-09 | Code: D | equity_swap_involved: 0 | transaction_form_type: 4 | Footnotes: F7, F7, F7
• Sold 48,750 shares of Stock Option (Right to Buy) at $4.2 per share (Derivative)
  Date: 2025-12-09 | Code: M | equity_swap_involved: 0 | transaction_form_type: 4 | Footnotes: F7, F7, F7

Footnotes:

• F1: Includes 600 shares purchased on May 21, 2025, and 600 shares purchased on November 20, 2025, pursuant to the Issuer's 2014 Employee Stock Purchase Plan, as amended and restated.
• F2: In connection with the terms of an Agreement and Plan of Merger, dated as of October 24, 2025 (the "Merger Agreement"), by and among the Issuer, Eli Lilly and Company ("Parent") and Parent's direct wholly owned subsidiary, Flying Tigers Acquisition Corporation, ("Purchaser"), Purchaser completed a tender offer for shares of the Issuer's Common Stock. In exchange for each share, tendering stockholders received: (i) $3.56 per share in cash, without interest and less any applicable tax withholding (the "Cash Consideration"); plus (ii) one non-tradable contingent value right (each, a "CVR"), which represents the contractual right to receive up to two contingent cash payments of up to an aggregate of $8.91 per CVR, net to the stockholder in cash,
• F3: (continued from footnote 1) without interest and less any applicable tax withholding, upon the achievement of both specified milestones in accordance with the terms and subject to the conditions of a contingent value rights agreement (the "CVR Agreement") with Computershare Inc. and its affiliate, Computershare Trust Company, N.A, as the rights agent. After completion of the tender offer, pursuant to the terms of the Merger Agreement, Purchaser merged with and into the Issuer (the "Merger"), effective as of December 9, 2025, with the Issuer continuing as the surviving entity and a wholly owned subsidiary of Parent (the "Effective Time").
• F4: Pursuant to the terms of the Merger Agreement, at the Effective Time, each restricted stock unit granted under a Company Equity Plan that was subject solely to time-based vesting ("Company RSU") that was outstanding and unvested immediately prior to the Effective Time was cancelled and in exchange for such cancellation, the holder of such cancelled Company RSU received (i) an amount in cash, without interest and less any applicable tax withholdings, equal to the product of (x) the total number of Shares subject to such Company RSU immediately prior to the Effective Time, multiplied by (y) the Cash Consideration and (ii) one CVR for each share of Company Common Stock subject to such Company RSU immediately prior to the Effective Time (without regard to vesting).
• F5: On September 12, 2025, the Compensation Committee of the Issuer Board approved the grant of performance stock units, effective as of the completion of two trading days following the public announcement of by the Issuer of the first to occur of either a change of control (as defined in the Issuer's 2024 Equity Incentive Award Plan) or a significant out-licensing transaction certified by the Compensation Committee. The closing of the Merger was a qualifying change of control, pursuant to which 100% of the total number of awards vested on the closing of such change of control.
• F6: Pursuant to the terms of the Merger Agreement, at the Effective Time, each restricted stock unit granted under a Company Equity Plan that was subject solely to performance-based vesting ("Company PSU") that was outstanding and unvested immediately prior to the Effective Time, was cancelled and in exchange for such cancellation, the holder of such cancelled Company PSU received (i) an amount in cash, without interest and less any applicable tax withholdings, equal to the product of (x) the total number of Shares subject to such Company PSU immediately prior to the Effective Time, multiplied by (y) the Cash Consideration and (ii) one CVR for each share of Company Common Stock subject to such Company PSU immediately prior to the Effective Time (without regard to vesting).
• F7: Pursuant to the terms of the Merger Agreement, each Company Stock Option that has an exercise price equal to or greater than the Cash Consideration that was outstanding immediately prior to the Effective Time (each such Company Stock Option, an "Out-of-the-Money Option"), to the extent not vested, was fully vested as of prior to the Effective Time. Any Out-of-the-Money Options that remained outstanding and unexercised as of the Effective Time was cancelled for no consideration at the Effective Time.