Alnylam (NASDAQ: ALNY) R&D chief sells 4,627 shares under plan

Rhea-AI Filing Summary

ALNYLAM PHARMACEUTICALS, INC. executive vice president and Chief R&D officer Pushkal Garg reported both an equity award vesting and share sales. On February 27, 2026, 1,908 restricted stock units were converted into common shares at no cost as the final tranche of a February 27, 2023 grant vested. That same day, he sold a total of 4,627 shares of common stock in multiple open-market transactions at prices ranging from about $328.92 to $334.39 per share under a pre-established Rule 10b5-1 trading plan adopted on November 20, 2025. After these transactions, he directly held 22,129 common shares, with additional shares held indirectly in a managed account and in a trust where his spouse is co-trustee, and he disclaims beneficial ownership of the trust shares.

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

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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).

X

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^*

Garg Pushkal

(Last) (First) (Middle)

675 WEST KENDALL STREET

HENRI A. TERMEER SQUARE

(Street)

CAMBRIDGE MA 02142

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP Chief R&D

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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
Common Stock	02/27/2026		M		1,908	A	$0.0	26,756	D
Common Stock	02/27/2026		S(1)		127	D	$328.92(2)	26,629	D
Common Stock	02/27/2026		S(1)		2,259	D	$330.73(3)	24,370	D
Common Stock	02/27/2026		S(1)		1,159	D	$331.49(4)	23,211	D
Common Stock	02/27/2026		S(1)		942	D	$332.48(5)	22,269	D
Common Stock	02/27/2026		S(1)		140	D	$334.39	22,129	D
Common Stock								431	I	by Managed Account(6)
Common Stock								250	I	by Trust(7)

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
Restricted Stock Units	(8)	02/27/2026		M			1,908	(9)	(10)	Common Stock	1,908	$0.0	0	D

Explanation of Responses:

1. This transaction was made pursuant to a Rule 10b5-1(c) trading plan adopted by the Reporting Person on November 20, 2025.

2. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $328.90 to $329.24. The reporting person will provide to the issuer, any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

3. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $330.08 to $331.05. The reporting person will provide to the issuer, any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

4. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $331.09 to $332.02. The reporting person will provide to the issuer, any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

5. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $332.11 to $333.09. The reporting person will provide to the issuer, any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

6. Reflects shares of ALNY common stock acquired by the Reporting Person under the issuer 401(k) plan as a result of the issuer 401(k) matching contribution program.

7. Represents shares held in trust, of which the Reporting Persons spouse is co-trustee. The Reporting Person disclaims beneficial ownership of these shares, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

8. These shares are represented by restricted stock units (RSUs) granted under the Amended and Restated 2018 Stock Incentive Plan. Each RSU represents a contingent right to receive one share of common stock.

9. On February 27, 2023, the reporting person was granted 5,724 restricted stock units that vest ratably on each of the first, second and third anniversaries of the Grant Date. On February 27, 2026, the third and final tranche of restricted stock units from the February 27, 2023 grant vested and was released, as reported on this Form 4.

10. The restricted stock units vest ratably in three installments, with one third vesting on each of the first, second and third anniversaries of the grant date.

	By: Brett Budzinski, Attorney-in-Fact For: Pushkal Garg	03/02/2026
	** 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.

FAQ

What insider transactions did Pushkal Garg report for ALNY on February 27, 2026?

Pushkal Garg reported an RSU vesting and open-market share sales on February 27, 2026. 1,908 restricted stock units converted to common shares, and he sold a total of 4,627 ALNY common shares in multiple transactions that day.

How many Alnylam (ALNY) shares did EVP Pushkal Garg sell in this Form 4?

Pushkal Garg sold 4,627 shares of Alnylam common stock in this filing. The sales were executed in several open-market trades at prices generally between about $328.92 and $334.39 per share under a Rule 10b5-1 trading plan.

What restricted stock unit (RSU) activity did Alnylam’s EVP report in the Form 4?

The Form 4 shows 1,908 restricted stock units converting into common shares at no cost. This was the third and final vesting tranche from a February 27, 2023 RSU grant that vests ratably over three years.

How many ALNY shares does Pushkal Garg hold directly after these transactions?

After the reported trades, Pushkal Garg directly holds 22,129 shares of Alnylam common stock. The Form 4 also lists additional indirect holdings in a managed account and a trust, with a disclaimer of beneficial ownership for the trust shares.

Were Pushkal Garg’s ALNY share sales made under a Rule 10b5-1 plan?

Yes. The filing states the share sales were executed under a Rule 10b5-1(c) trading plan. That plan was adopted on November 20, 2025, allowing pre-arranged trades independent of day-to-day discretionary decisions about timing.

What prices were received for the Alnylam (ALNY) shares sold in this insider transaction?

The reported sales prices reflect weighted averages for multiple trades. Trades occurred in price ranges such as $328.90 to $329.24, $330.08 to $331.05, $331.09 to $332.02, and $332.11 to $333.09 per share on February 27, 2026.