Arbutus director exercises options, pays with shares

The issuer withheld 99,057 shares for the aggregate exercise prices; the options had separate vesting terms.

Rhea-AI Filing Summary

Arbutus Biopharma Corp (ABUS) director Robert A. Beardsley exercised options for 52,533 shares at an exercise price of $3.20 and 78,800 shares at $4.24 on September 18, 2026. The first option covers 157,600 shares and vests over three years, subject to continuous service; the second option was fully vested and exercisable as of June 8, 2026. The issuer withheld 99,057 shares to satisfy the aggregate exercise prices. No Rule 10b5-1 plan is reported.

Insider Trade Summary

131,333 shares exercised/converted

Exercise 5 txns

Insider Beardsley Robert A

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy) F2	52,533	$0.00	$0.00
Exercise	Stock Option (Right to Buy) F3	78,800	$0.00	$0.00
Exercise	Common Shares	52,533	$3.20	$168K
Exercise	Common Shares	78,800	$4.24	$334K
Exercise Price or Tax Liability	Common Shares F1	99,057	$5.07	$502K

Holdings After Transaction: Stock Option (Right to Buy) — 105,067 contracts (Direct); Common Shares — 32,276 shares (Direct)

Footnotes (3)

1. F1. The Reporting Person exercised options on September 18, 2026. The Issuer withheld an aggregate of 99,057 shares otherwise issuable upon the exercises to satisfy the aggregate exercise prices.
2. F2. The option, representing a right to purchase a total of 157,600 shares, vests over a three-year period, with 1/3rd of the total shares subject to the option vesting at each of the 1st, 2nd and 3rd anniversaries of the March 18, 2025 grant date, subject to the Reporting Person's continuous service as of each vesting date.
3. F3. The option, representing a right to purchase a total of 78,800 shares, was fully vested and exercisable as of the June 8, 2026 grant date.

Key Figures

Shares acquired through option exercise: 52,533 shares Exercise price: $3.20 per share Shares acquired through option exercise: 78,800 shares +4 more

7 metrics

Shares acquired through option exercise 52,533 shares Exercised September 18, 2026 at an exercise price of $3.20 per share.

Exercise price $3.20 per share Option exercise for 52,533 shares on September 18, 2026.

Shares acquired through option exercise 78,800 shares Exercised September 18, 2026 at an exercise price of $4.24 per share.

Exercise price $4.24 per share Option exercise for 78,800 shares on September 18, 2026.

Shares withheld 99,057 shares Withheld by the issuer to satisfy the aggregate exercise prices.

Reported price for withheld shares $5.07 per share Reported for the 99,057 shares withheld on September 18, 2026.

Shares subject to first option 157,600 shares Option vests over three years, subject to continuous service.

Key Terms

exercise prices, vests over a three-year period, fully vested and exercisable

3 terms

exercise prices financial

"to satisfy the aggregate exercise prices"

vests over a three-year period financial

"the option ... vests over a three-year period"

fully vested and exercisable financial

"was fully vested and exercisable"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many ABUS shares did director Robert A. Beardsley acquire by exercising options?

He acquired 52,533 shares at an exercise price of $3.20 and 78,800 shares at an exercise price of $4.24 on September 18, 2026.

Why did ABUS withhold 99,057 shares?

The issuer withheld 99,057 shares otherwise issuable upon the exercises to satisfy the aggregate exercise prices.

Were Robert A. Beardsley's ABUS transactions reported under a Rule 10b5-1 plan?

No Rule 10b5-1 plan is reported for these transactions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/23/2026 - 08:31 PM Accepted by SEC EDGAR 09/23/2026 - 08:31 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Beardsley Robert A

(Last) (First) (Middle)

C/O ARBUTUS BIOPHARMA CORPORATION

701 VETERANS CIRCLE

(Street)

WARMINSTER PENNSYLVANIA 18974

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Arbutus Biopharma Corp [ ABUS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	09/18/2026		M		52,533	A	$3.2	52,533	D
Common Shares	09/18/2026		M		78,800	A	$4.24	131,333	D
Common Shares	09/18/2026		F(1)		99,057	D	$5.07	32,276	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$3.2	09/18/2026		M			52,533	(2)	03/18/2035	Common Shares	52,533	$0	105,067	D
Stock Option (Right to Buy)	$4.24	09/18/2026		M			78,800	06/08/2026(3)	06/08/2036	Common Shares	78,800	$0	0	D

Explanation of Responses:

1. The Reporting Person exercised options on September 18, 2026. The Issuer withheld an aggregate of 99,057 shares otherwise issuable upon the exercises to satisfy the aggregate exercise prices.

2. The option, representing a right to purchase a total of 157,600 shares, vests over a three-year period, with 1/3rd of the total shares subject to the option vesting at each of the 1st, 2nd and 3rd anniversaries of the March 18, 2025 grant date, subject to the Reporting Person's continuous service as of each vesting date.

3. The option, representing a right to purchase a total of 78,800 shares, was fully vested and exercisable as of the June 8, 2026 grant date.

Remarks:

	/s/ Tuan Nguyen as attorney-in-fact for Robert A Beardsley	09/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)