[Form 4] Akoya BioSciences, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Key take-aways from the Form 4 filed for Akoya Biosciences (AKYA)

• Reporting person: Director Myla Lai-Goldman.
• Transaction date: 07/08/2025, which is the closing date of the merger between Akoya Biosciences and Quanterix Corporation.
• Merger mechanics: Each outstanding AKYA common share was converted into (a) 0.1461 share of Quanterix common stock and (b) $0.38 in cash (together, the “Per Share Merger Consideration”). The consideration may be adjusted under the Merger Agreement.
• Common shares disposed: 20,000 AKYA shares were relinquished under Transaction Code J (other). The director now reports 0 AKYA shares beneficially owned.
• Stock options cancelled: Four tranches of options (38,993 @ $18.10; 30,549 @ $11.24; 56,322 @ $5.70; 50,000 @ $2.01) were accelerated and automatically terminated for no consideration, in line with the merger terms, because their exercise prices equalled or exceeded the merger consideration. Total options affected: 175,864.
• Post-merger structure: Akoya survives as a wholly-owned subsidiary of Quanterix, and AKYA securities cease to exist as standalone equity.

The filing is strictly a compliance disclosure reflecting the consummation of the merger and the resulting elimination of the director’s direct holdings in AKYA equity instruments.

Positive

• Merger completion: Form 4 confirms the 07/08/25 closing of the Akoya–Quanterix merger, triggering share conversion into Quanterix equity plus cash.

Negative

• Option cancellation: 175,864 outstanding AKYA stock options were terminated for no consideration, eliminating potential upside for option holders.

Insights

Financial Analyst

TL;DR: Filing confirms AKYA–Quanterix merger closing, converting shares and cancelling underwater options; neutral-to-positive for former AKYA shareholders.

This Form 4 offers final confirmation that the Quanterix–Akoya merger closed on 07/08/25. Shareholders receive a fixed mix of 0.1461 QTRX share plus $0.38 cash per AKYA share. The director’s disposition of 20 k shares and 175.9 k options to zero ownership is purely mechanical, signalling that AKYA equity no longer trades independently. From an investor standpoint, the cash-plus-stock exit provides liquidity and continued market exposure through Quanterix, a larger life-sciences platform. Option cancellation at no value underscores that strike prices sat above merger consideration, implying limited lost intrinsic value. Overall effect is orderly transition rather than a fundamental value shift.

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

X

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^*

SHEPLER ROBERT G

(Last) (First) (Middle)

C/O AKOYA BIOSCIENCES, INC.

100 CAMPUS DRIVE, 6TH FLOOR

(Street)

MARLBOROUGH MA 01752

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Akoya Biosciences, Inc. [ AKYA ]

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)
07/08/2025

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)	$21.95	07/08/2025		J(1)			16,860(2)	(2)	05/21/2031	Common Stock	16,860	$0	0	D
Stock Option (right to buy)	$11.24	07/08/2025		J(1)			30,549(2)	(2)	06/01/2032	Common Stock	30,549	$0	0	D
Stock Option (right to buy)	$5.7	07/08/2025		J(1)			56,322(2)	(2)	06/01/2033	Common Stock	56,322	$0	0	D
Stock Option (right to buy)	$2.01	07/08/2025		J(1)			50,000(2)	(2)	06/01/2034	Common Stock	50,000	$0	0	D

Explanation of Responses:

1. Disposition of shares pursuant to that certain Amended and Restated Agreement and Plan of Merger dated as of April 28, 2025, as amended (the "Merger Agreement"), by and among Quanterix Corporation, a Delaware corporation ("Quanterix"), Wellfleet Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Quanterix ("Merger Sub"), and Issuer. On July 8, 2025 (the "Closing Date"), Merger Sub merged with and into Issuer (the "Merger"), with Issuer surviving the Merger as a wholly owned subsidiary of Quanterix.

2. Pursuant to the Merger Agreement, as of the Closing Date, each outstanding option to purchase Issuer common stock was accelerated and each option with a per share exercise price equal to or greater than the Per Share Merger Consideration (as defined in the Merger Agreement) was automatically terminated and cancelled for no consideration.

	/s/ Robert G. Shepler	07/10/2025
	** 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 is the merger consideration for each Akoya (AKYA) share?

Each share converts into 0.1461 Quanterix common share plus $0.38 in cash, subject to adjustment.

When did the Akoya–Quanterix merger close?

The merger closed on July 8, 2025, as indicated in the Form 4 filing.

How many Akoya shares did Director Myla Lai-Goldman dispose of?

The director disposed of 20,000 AKYA common shares under Transaction Code J.

What happened to outstanding Akoya stock options?

All options were accelerated and, if their exercise price equalled or exceeded the merger consideration, terminated for no consideration on the closing date.

How many stock options held by the director were cancelled?

A total of 175,864 options (38,993 + 30,549 + 56,322 + 50,000) were cancelled.

Does the director own any Akoya shares after the merger?

No. The filing shows 0 AKYA shares beneficially owned following the transaction.