ALNY (ALNY) director granted 671 RSUs and 1,441 options at $298.48

Rhea-AI Filing Summary

ALNYLAM PHARMACEUTICALS, INC. director Margaret A. Hamburg reported equity awards consisting of common stock and stock options. She received 671 shares of common stock in the form of restricted stock units (RSUs) that each convert into one share when they vest. The RSUs will vest in full on the earlier of the first anniversary of the May 20, 2026 grant or an earlier retirement or resignation that occurs no more than 90 days before that date. She was also granted stock options for 1,441 shares of common stock at an exercise price of $298.4800 per share, with the same vesting schedule. After these awards, her directly held common stock position reported in this filing is 1,582 shares, and she holds options for 1,441 underlying shares.

Insights

Equity compensation analyst

Routine director equity grants in stock and options with one-year vesting.

Director Margaret A. Hamburg received 671 RSUs and options on 1,441 shares at an exercise price of $298.4800. These awards are classified as grants or awards, not open-market purchases or sales, and represent standard equity-based compensation.

Both the RSUs and options vest in full on the earlier of the first anniversary of the May 20, 2026 grant date or an eligible retirement or resignation occurring within 90 days before that anniversary. This structure encourages continued board service through the one-year mark.

Following these awards, the filing reports 1,582 common shares held directly and options over 1,441 shares. With no sales, tax withholdings, or derivative exercises disclosed here, the activity appears administrative rather than a change in market view, so its impact on an investment thesis is neutral.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider HAMBURG MARGARET A

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	1,441	$0.00	--
Grant/Award	Common Stock	671	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 1,441 shares (Direct, null); Common Stock — 1,582 shares (Direct, null)

Footnotes (1)

1. These shares are represented by restricted stock units (RSUs) granted under the Second Amended and Restated 2018 Stock Incentive Plan. Each RSU represents a contingent right to receive one share of common stock. The RSUs will vest in full upon the earlier of the first anniversary of the grant date and the date of any earlier retirement or resignation of the Reporting Person, provided such date of retirement or resignation occurs no more than 90 days prior to the first anniversary of the grant date. The stock option will vest in full upon the earlier of the first anniversary of the grant date and the date of any earlier retirement or resignation of the Reporting Person, provided such date of retirement or resignation occurs no more than 90 days prior to the first anniversary of the grant date.

Key Figures

RSU grant size: 671 shares Option grant size: 1,441 options Option exercise price: $298.4800 per share +3 more

6 metrics

RSU grant size 671 shares Restricted stock units granted to director on May 20, 2026

Option grant size 1,441 options Stock options granted on May 20, 2026

Option exercise price $298.4800 per share Exercise price for 1,441 stock options

Option expiration May 20, 2036 Expiration date of granted stock options

Shares held after grant 1,582 shares Total common shares directly held post-transaction

Option vesting horizon 1 year from grant Full vesting at first anniversary or qualifying retirement/resignation

Key Terms

restricted stock units (RSUs), Second Amended and Restated 2018 Stock Incentive Plan, stock option, contingent right

4 terms

restricted stock units (RSUs) financial

"These shares are represented by restricted stock units (RSUs) granted under the Second Amended and Restated 2018 Stock Incentive Plan."

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

Second Amended and Restated 2018 Stock Incentive Plan financial

"RSUs granted under the Second Amended and Restated 2018 Stock Incentive Plan."

stock option financial

"The stock option will vest in full upon the earlier of the first anniversary of the grant date and the date of any earlier retirement or resignation."

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

contingent right financial

"Each RSU represents a contingent right to receive one share of common stock."

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^*

HAMBURG MARGARET A

(Last) (First) (Middle)

675 WEST KENDALL STREET

(Street)

CAMBRIDGE MASSACHUSETTS 02142

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ALNYLAM PHARMACEUTICALS, INC. [ ALNY ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

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

X	Form filed by One Reporting Person
	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
Common Stock	05/20/2026		A		671(1)	A	$0	1,582	D

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)	$298.48	05/20/2026		A		1,441		05/20/2027(2)	05/20/2036	Common Stock	1,441	$0	1,441	D

Explanation of Responses:

1. These shares are represented by restricted stock units (RSUs) granted under the Second Amended and Restated 2018 Stock Incentive Plan. Each RSU represents a contingent right to receive one share of common stock. The RSUs will vest in full upon the earlier of the first anniversary of the grant date and the date of any earlier retirement or resignation of the Reporting Person, provided such date of retirement or resignation occurs no more than 90 days prior to the first anniversary of the grant date.

2. The stock option will vest in full upon the earlier of the first anniversary of the grant date and the date of any earlier retirement or resignation of the Reporting Person, provided such date of retirement or resignation occurs no more than 90 days prior to the first anniversary of the grant date.

	Brett Budzinski, Attorney-in-Fact For: Margaret A. Hamburg	05/22/2026
	** 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 equity awards did ALNY director Margaret A. Hamburg receive in this Form 4?

Margaret A. Hamburg received 671 restricted stock units and stock options on 1,441 shares of ALNY common stock. The RSUs convert one-for-one into shares, while the options allow purchase at a fixed exercise price once vested.

What is the exercise price and term of Margaret A. Hamburg’s new ALNY stock options?

The new stock options cover 1,441 ALNY shares at an exercise price of $298.4800 per share. According to the filing, these options expire on May 20, 2036 and vest in full based on a one-year service or qualifying retirement condition.

How and when do Margaret A. Hamburg’s ALNY RSUs and options vest?

Both the 671 RSUs and the 1,441 stock options vest in full on the earlier of the first anniversary of the May 20, 2026 grant date or an earlier retirement or resignation, provided that retirement or resignation occurs no more than 90 days before that anniversary date.

How many ALNY shares does Margaret A. Hamburg hold after these transactions?

After the reported grants, the filing shows Margaret A. Hamburg directly holding 1,582 shares of ALNY common stock. She also holds stock options covering 1,441 underlying shares, reflecting the new option award reported in this Form 4 filing.

Are Margaret A. Hamburg’s ALNY Form 4 transactions open-market buys or sells?

The transactions are coded as grants or awards, not open-market trades. She acquired 671 RSUs and 1,441 stock options as compensation, with no shares bought or sold on the open market in this specific Form 4 disclosure.

Under which plan were Margaret A. Hamburg’s ALNY RSUs granted?

The filing states that the 671 RSUs were granted under the Second Amended and Restated 2018 Stock Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of ALNY common stock upon vesting under the plan’s terms.