Director-linked RA Capital funds receive 20,275 Acrivon (ACRV) stock options at $1.52

Rhea-AI Filing Summary

Acrivon Therapeutics, Inc. reported that entities affiliated with RA Capital are associated with a new stock option grant linked to director Dr. Derek DiRocco. The derivative award covers 20,275 shares of common stock at an exercise price of $1.52 per share, expiring on June 16, 2036. The option vests on the day before Acrivon’s next annual stockholder meeting, conditioned on Dr. DiRocco’s continued service. According to the disclosures, Dr. DiRocco holds the option for the benefit of RA Capital Healthcare Fund LP and RA Capital Nexus Fund II, and any net value from exercise will offset advisory fees owed to RA Capital Management, L.P., while the reporting persons disclaim beneficial ownership beyond their pecuniary interest.

Insights

Equity compensation analyst

Routine board-related option grant tied to RA Capital funds.

The filing shows a compensation-related stock option grant for 20,275 shares of Acrivon common stock at an exercise price of $1.52 per share, expiring in 2036. This is a standard director equity incentive rather than an open-market trade.

The option vests before the next annual meeting if Dr. Derek DiRocco continues to serve, aligning his incentives with company performance over the near term. The grant is held for the benefit of RA Capital Healthcare Fund LP and RA Capital Nexus Fund II, with proceeds offsetting advisory fees.

The reporting persons, including RA Capital Management, L.P., Dr. Peter Kolchinsky and Mr. Rajeev Shah, expressly disclaim beneficial ownership except for any pecuniary interest. Overall, this is a routine governance and compensation development, not a directional bet in the open market.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider RA CAPITAL MANAGEMENT, L.P., RA Capital Healthcare Fund LP, RA Capital Nexus Fund II, L.P., Kolchinsky Peter, Shah Rajeev M.

Role null | null | null | null | null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	20,275	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 20,275 shares (Indirect, See Footnotes)

Footnotes (1)

1. The shares subject to the option shall vest on the date immediately preceding the date of the Issuer's next annual meeting of stockholders, subject to Dr. Derek DiRocco's continuous service through the applicable vesting date. RA Capital Management, L.P. (the "Adviser") is the investment manager for RA Capital Healthcare Fund, L.P. (the "Fund") and RA Capital Nexus Fund II, L.P. (the "Nexus Fund II"). The general partner of the Adviser is RA Capital Management GP, LLC (the "Adviser GP"), of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. Each of the Adviser, the Adviser GP, the Fund, the Nexus Fund II, Dr. Kolchinsky and Mr. Shah disclaims beneficial ownership of any of the reported securities, except to the extent of its or his respective pecuniary interest therein. Under Dr. DiRocco's arrangement with the Adviser, Dr. DiRocco holds the option for the benefit of the Fund and the Nexus Fund II. Dr. DiRocco is obligated to turn over to the Adviser any net cash or stock received upon exercise of the option, which will offset advisory fees owed by the Fund and the Nexus Fund II to the Adviser. The Reporting Persons therefore disclaim beneficial ownership of the option and underlying common stock.

Key Figures

Option grant size: 20,275 shares Exercise price: $1.52 per share Expiration date: June 16, 2036 +2 more

5 metrics

Option grant size 20,275 shares Stock Option (Right to Buy) granted on June 17, 2026

Exercise price $1.52 per share Conversion or exercise price of the stock option

Expiration date June 16, 2036 Option expiration for the granted stock option

Post-grant derivative holdings 20,275 option units Total derivative shares following transaction

Vesting condition Before next annual meeting Vests immediately prior to next annual meeting, subject to service

Key Terms

Stock Option (Right to Buy), beneficial ownership, pecuniary interest, investment manager, +1 more

5 terms

Stock Option (Right to Buy) financial

"security_title: "Stock Option (Right to Buy)""

beneficial ownership financial

"disclaims beneficial ownership of any of the reported securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"except to the extent of its or his respective pecuniary interest therein"

investment manager financial

"RA Capital Management, L.P. is the investment manager for RA Capital Healthcare Fund"

advisory fees financial

"net cash or stock received upon exercise of the option, which will offset advisory fees owed"

Advisory fees are payments made to financial advisors or investment managers for guidance, portfolio management, or other services, typically charged as a fixed amount or a percentage of assets under management. They matter because they lower an investor’s net returns—like paying a mechanic to tune a car, you expect better performance, so investors weigh whether the cost is justified by higher returns, better risk control, or convenience.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/22/2026 - 04:33 PM Accepted by SEC EDGAR 06/22/2026 - 04:32 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^*

RA CAPITAL MANAGEMENT, L.P.

(Last) (First) (Middle)

200 BERKELEY STREET, 18TH FLOOR

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Acrivon Therapeutics, Inc. [ ACRV ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2026

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

	Form filed by One Reporting Person
X	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

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)	$1.52	06/17/2026		A		20,275		(1)	06/16/2036	Common Stock	20,275	$0	20,275	I	See Footnotes(2)(3)

1. Name and Address of Reporting Person^*

RA CAPITAL MANAGEMENT, L.P.

(Last) (First) (Middle)

200 BERKELEY STREET, 18TH FLOOR

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

RA Capital Healthcare Fund LP

(Last) (First) (Middle)

200 BERKELEY STREET, 18TH FLOOR

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

RA Capital Nexus Fund II, L.P.

(Last) (First) (Middle)

200 BERKELEY STREET, 18TH FLOOR

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Kolchinsky Peter

(Last) (First) (Middle)

C/O RA CAPITAL MANAGEMENT, L.P.

200 BERKELEY STREET, 18TH FLOOR

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Shah Rajeev M.

(Last) (First) (Middle)

C/O RA CAPITAL MANAGEMENT, L.P.

200 BERKELEY STREET, 18TH FLOOR

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The shares subject to the option shall vest on the date immediately preceding the date of the Issuer's next annual meeting of stockholders, subject to Dr. Derek DiRocco's continuous service through the applicable vesting date.

2. RA Capital Management, L.P. (the "Adviser") is the investment manager for RA Capital Healthcare Fund, L.P. (the "Fund") and RA Capital Nexus Fund II, L.P. (the "Nexus Fund II"). The general partner of the Adviser is RA Capital Management GP, LLC (the "Adviser GP"), of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. Each of the Adviser, the Adviser GP, the Fund, the Nexus Fund II, Dr. Kolchinsky and Mr. Shah disclaims beneficial ownership of any of the reported securities, except to the extent of its or his respective pecuniary interest therein.

3. Under Dr. DiRocco's arrangement with the Adviser, Dr. DiRocco holds the option for the benefit of the Fund and the Nexus Fund II. Dr. DiRocco is obligated to turn over to the Adviser any net cash or stock received upon exercise of the option, which will offset advisory fees owed by the Fund and the Nexus Fund II to the Adviser. The Reporting Persons therefore disclaim beneficial ownership of the option and underlying common stock.

Remarks:

Dr. Derek DiRocco, a Partner of the Adviser, serves on the Issuer's board of directors.

	/s/ Peter Kolchinsky, Manager of RA Capital Management, L.P.	06/22/2026
	/s/ Peter Kolchinsky, Manager of RA Capital Healthcare Fund GP, LLC, the General Partner of RA Capital Healthcare Fund, L.P.	06/22/2026
	/s/ Peter Kolchinsky, Manager of RA Capital Nexus Fund II GP, LLC, the General Partner of RA Capital Nexus Fund II, L.P.	06/22/2026
	/s/ Peter Kolchinsky, individually	06/22/2026
	/s/ Rajeev Shah, individually	06/22/2026
	** 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)

FAQ

What did the RA Capital-affiliated entities acquire in Acrivon Therapeutics (ACRV)?

They reported a new stock option grant linked to director Dr. Derek DiRocco, covering 20,275 shares of Acrivon common stock at an exercise price of $1.52 per share, expiring on June 16, 2036, as part of director-related equity compensation.

Is the Acrivon (ACRV) Form 4 transaction a market purchase or sale?

It is not a market trade. The filing shows a Form 4 grant of a stock option (code A), a compensation award to Dr. Derek DiRocco, rather than an open-market buy or sell of Acrivon shares by RA Capital-affiliated entities.

When does the new Acrivon (ACRV) stock option for Dr. DiRocco vest?

The option vests on the date immediately before Acrivon’s next annual meeting of stockholders, provided Dr. Derek DiRocco remains in continuous service through that date, tying the award to his continued board service.

Who economically benefits from the Acrivon (ACRV) option grant reported on Form 4?

Under Dr. DiRocco’s arrangement, the option is held for the benefit of RA Capital Healthcare Fund LP and RA Capital Nexus Fund II. Any net cash or stock from exercise must be turned over to RA Capital Management, L.P. to offset advisory fees owed.

Do RA Capital and its principals claim full beneficial ownership of the ACRV option?

No. RA Capital Management, L.P., its general partner, RA Capital Healthcare Fund LP, RA Capital Nexus Fund II, Dr. Peter Kolchinsky and Mr. Rajeev Shah all disclaim beneficial ownership of the reported securities, except to the extent of their respective pecuniary interests.

How many Acrivon (ACRV) shares are underlying the reported option grant?

The stock option covers 20,275 underlying shares of Acrivon common stock. The reported post-transaction derivative holdings for this award are also 20,275 option units, reflecting the full grant amount as of the transaction date.