[Form 4] Adverum Biotechnologies, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Adverum Biotechnologies (NASDAQ:ADVM) filed a Form 4 disclosing that director Mark L. Lupher, Jr. received an option grant covering 10,450 shares of common stock at an exercise price of $2.32 on June 17 2025.

The option vests on the earlier of June 17 2026 or the 2026 annual shareholder meeting, with accelerated vesting upon a change-of-control and contingent on the director’s continued service. Following the award, Lupher beneficially owns 10,450 derivative securities; no open-market purchases or sales of common shares were reported. The filing represents standard non-cash director compensation and does not signal a change in the company’s financial position or strategy.

Insights

Corporate Governance Expert

Routine option grant; neutral impact for investors.

The Form 4 records a customary board equity award—10,450 stock options at a $2.32 strike—valued at roughly $24 K. No common shares changed hands, so immediate dilution and cash effects are nil. Because the transaction aligns director incentives without reflecting buying or selling conviction, it carries minimal informational value for shareholders and poses no governance concerns. Overall investor impact is neutral.

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

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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^*

Lupher, Jr. Mark L.

(Last) (First) (Middle)

C/O ADVERUM BIOTECHNOLOGIES, INC.

100 CARDINAL WAY

(Street)

REDWOOD CITY CA 94063

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Adverum Biotechnologies, Inc. [ ADVM ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025

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

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

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

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)	$2.32	06/17/2025		A		10,450		(1)	06/16/2035	Common Stock	10,450	$0	10,450	D

Explanation of Responses:

1. The shares subject to the option will vest and become exercisable on the earlier of June 17, 2026 or the 2026 annual meeting of stockholders, subject to (1) accelerated vesting upon a change of control and (2) the Reporting Person's continued service with the Issuer on the vesting date.

	/s/ Aneta Fergson, Attorney-in-Fact	06/20/2025
	** 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.

FAQ

What did ADVM disclose in its Form 4 filed on June 29, 2025?

The company reported a grant of 10,450 stock options to director Mark L. Lupher, Jr. at a $2.32 exercise price.

How many ADVM shares are covered by the new option award?

The option entitles the director to purchase 10,450 common shares upon vesting.

When do the granted ADVM options vest?

The options vest on the earlier of June 17, 2026 or the 2026 annual meeting, with accelerated vesting if a change of control occurs.

Did the insider buy or sell any ADVM common stock?

No. The filing reports only the receipt of stock options; no common shares were bought or sold.

What is the exercise price of the granted ADVM options?

The exercise price is $2.32 per share.