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

Adverum Biotech Insider Receives New Stock Options, Minimal Impact

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Adverum Biotechnologies, Inc. (ADVM) filed a Form 4 disclosing a routine equity grant to director Patrick Machado. On 06/17/2025 Mr. Machado received two non-qualified stock-option awards covering 10,450 and 3,140 shares, respectively, at an exercise price of $2.32 per share. Both options carry a 10-year term (expire 06/16/2035) and vest on the earlier of 06/17/2026 or the company’s 2026 annual meeting, with accelerated vesting upon a change-of-control, contingent on continued board service. Following the grant, the reporting person beneficially owns the same number of derivative securities; no common shares were bought or sold. The filing indicates that Mr. Machado remains a non-employee director and does not alter his ownership form (direct). Because the transaction is an at-the-market option grant aligned with typical director compensation practice and involves no immediate cash outflow or share issuance, the filing is considered administratively important but not financially material for most investors.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Routine director option grant; neutral governance and dilution impact.

The Form 4 reports standard board compensation—13,590 options at $2.32. Vesting is service-based with a customary change-of-control accelerator, mirroring prevailing biotech governance norms. No open-market stock movement occurred, so insider sentiment signals are minimal. Dilution potential is de minimis (<1% of outstanding shares). I view the disclosure as compliance-driven and not materially impactful on valuation or control dynamics.

TL;DR: Small option grant—immaterial to ADVM’s investment thesis.

The two option lots represent a combined notional cost of $31,555 if exercised, a negligible fraction of ADVM’s market cap. There is no signal of insider buying or selling; the award merely refreshes director incentives. With vesting pushed to mid-2026, near-term share count and earnings per share remain unaffected. Consequently, I classify the filing as neutral for stock performance and portfolio positioning.

Insider Machado Patrick
Role Director
Type Security Shares Price Value
Grant/Award Stock Option (Right to Buy) 10,450 $0.00 --
Grant/Award Stock Option (Right to Buy) 3,140 $0.00 --
Holdings After Transaction: Stock Option (Right to Buy) — 10,450 shares (Direct)
Footnotes (1)
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Form 4 Insider Transactions: What Each Field Means →
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*
Machado Patrick
(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
Stock Option (Right to Buy) $2.32 06/17/2025 A 3,140 (1) 06/16/2035 Common Stock 3,140 $0 3,140 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Adverum Biotechnologies (ADVM) report on 06/17/2025?

ADVM disclosed that director Patrick Machado received two stock-option grants totaling 13,590 shares at an exercise price of $2.32.

When do the newly granted ADVM options vest?

The options fully vest on the earlier of June 17, 2026 or the 2026 annual shareholder meeting, with accelerated vesting upon a change-of-control.

What is the expiration date of the options granted to Patrick Machado?

Both option grants expire on June 16, 2035, providing a 10-year exercise window.

Did the filing report any purchase or sale of ADVM common stock?

No. The Form 4 only records option grants; no shares were bought or sold.

Is the transaction expected to materially dilute existing ADVM shareholders?

The grant covers 13,590 shares, a fraction of outstanding shares, so dilution impact is immaterial.