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

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Adverum Biotechnologies (ADVM) reported changes in stock option holdings for Chief Medical Officer Rabia Gurses Ozden on June 17, 2025. The transactions involved the amendment of existing stock options following the company's March 21, 2024 reverse stock split (10:1 ratio).

Key modifications include:

Cancellation and replacement of 8,000 fully vested options originally granted March 17, 2022, with exercise price adjusted from $13.50 to $10.14
Cancellation and replacement of 4,000 fully vested options originally granted June 9, 2023, with exercise price adjusted from $15.60 to $10.14

These amendments represent a repricing of executive stock options to align with current market conditions, maintaining the same number of shares (adjusted for the reverse split) but at a more favorable exercise price. The total holdings after transactions amount to 12,000 directly owned stock options.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Ozden Rabia Gurses

Role Chief Medical Officer

Type	Security	Shares	Price	Value
Disposition	Stock Option (Right to Buy)	8,000	$0.00	--
Grant/Award	Stock Option (Right to Buy)	8,000	$0.00	--
Disposition	Stock Option (Right to Buy)	4,000	$0.00	--
Grant/Award	Stock Option (Right to Buy)	4,000	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 0 shares (Direct)

Footnotes (1)

Effective March 21, 2024, the Issuer effected a reverse stock split (the "Reverse Split") whereby every ten shares of its issued and outstanding Common Stock were automatically combined into one share of Common Stock. In connection with the Reverse Split, each stock option to purchase ten shares of Common Stock was automatically combined into a stock option to purchase one share of Common Stock and the exercise prices of such options were multiplied by ten. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on March 17, 2022 and is fully vested. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on June 9, 2023 and is fully vested.

Form 4 Insider Transactions: What Each Field Means →

06/20/2025 - 04:28 PM

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^*

Ozden Rabia Gurses

(Last)

(First)

(Middle)

C/O ADVERUM BIOTECHNOLOGIES, INC.

100 CARDINAL WAY

(Street)

REDWOOD CITY

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)

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$13.5⁽¹⁾	06/17/2025		D⁽²⁾			8,000⁽¹⁾	⁽²⁾	03/16/2032	Common Stock	8,000⁽¹⁾	$0	0	D
Stock Option (Right to Buy)	$10.14	06/17/2025		A⁽²⁾		8,000⁽¹⁾		⁽²⁾	03/16/2032	Common Stock	8,000⁽¹⁾	$0	8,000⁽¹⁾	D
Stock Option (Right to Buy)	$15.6⁽¹⁾	06/17/2025		D⁽³⁾			4,000⁽¹⁾	⁽³⁾	06/08/2033	Common Stock	4,000⁽¹⁾	$0	0	D
Stock Option (Right to Buy)	$10.14	06/17/2025		A⁽³⁾		4,000⁽¹⁾		⁽³⁾	06/08/2033	Common Stock	4,000⁽¹⁾	$0	4,000⁽¹⁾	D

Explanation of Responses:

1. Effective March 21, 2024, the Issuer effected a reverse stock split (the "Reverse Split") whereby every ten shares of its issued and outstanding Common Stock were automatically combined into one share of Common Stock. In connection with the Reverse Split, each stock option to purchase ten shares of Common Stock was automatically combined into a stock option to purchase one share of Common Stock and the exercise prices of such options were multiplied by ten.

2. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on March 17, 2022 and is fully vested.

3. The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on June 9, 2023 and is fully vested.

	/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.

Source: View Original Filing on SEC EDGAR

FAQ

What changes were made to ADVM stock options for Chief Medical Officer Rabia Gurses Ozden on June 17, 2025?

On June 17, 2025, ADVM's Chief Medical Officer had two sets of stock options repriced to $10.14 per share: 1) An 8,000-share option originally granted on March 17, 2022 was repriced from $13.50, and 2) A 4,000-share option originally granted on June 9, 2023 was repriced from $15.60. Both options maintained their original expiration dates and were fully vested.

When did ADVM complete its reverse stock split and what was the ratio?

Adverum Biotechnologies completed a 1-for-10 reverse stock split effective March 21, 2024. As part of this action, every ten shares of common stock were combined into one share, and stock options were adjusted accordingly with their exercise prices multiplied by ten.

How many ADVM stock options does Rabia Gurses Ozden hold after the June 17, 2025 repricing?

Following the June 17, 2025 repricing, Rabia Gurses Ozden holds a total of 12,000 stock options: 8,000 options expiring March 16, 2032, and 4,000 options expiring June 8, 2033, all with an exercise price of $10.14 per share.

What is the new exercise price of ADVM stock options after the June 2025 repricing?

After the June 17, 2025 repricing, the exercise price for all affected stock options was adjusted to $10.14 per share, reduced from previous prices of $13.50 and $15.60 per share.