Alnylam (NASDAQ: ALNY) EVP trades 3,492 shares and receives equity awards

Rhea-AI Filing Summary

ALNY’s EVP and Chief R&D officer Pushkal Garg reported a mix of stock sales and equity awards. On March 2, 2026, he received a stock option for 10,480 shares and 4,769 restricted stock units under Alnylam’s 2018 Stock Incentive Plan, with both awards vesting over time based on continued service.

On March 2 and 3, 2026, he conducted open-market sales totaling 3,492 common shares at prices generally in the $316–$332 range, some under a Rule 10b5-1 trading plan and some automatically sold to cover tax withholding on the equity awards. Footnotes also show 431 shares held via a 401(k) managed account and 250 shares held in a trust for which he disclaims beneficial ownership.

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

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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)
03/02/2026

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	03/02/2026		A		4,769(1)	A	$0.0	26,898	D
Common Stock	03/02/2026		S(2)		50	D	$323.62(3)	26,848	D
Common Stock	03/02/2026		S(2)		97	D	$324.65(4)	26,751	D
Common Stock	03/02/2026		S(2)		277	D	$325.63(5)	26,474	D
Common Stock	03/02/2026		S(2)		421	D	$326.81(6)	26,053	D
Common Stock	03/02/2026		S(2)		353	D	$327.67(7)	25,700	D
Common Stock	03/02/2026		S(2)		107	D	$328.71(8)	25,593	D
Common Stock	03/02/2026		S(2)		182	D	$329.71(9)	25,411	D
Common Stock	03/02/2026		S(2)		87	D	$330.85(10)	25,324	D
Common Stock	03/02/2026		S(2)		101	D	$331.93(11)	25,223	D
Common Stock	03/02/2026		S(2)		42	D	$332.64(12)	25,181	D
Common Stock	03/03/2026		S(13)		355	D	$316.74(14)	24,826	D
Common Stock	03/03/2026		S(13)		317	D	$319.06(15)	24,509	D
Common Stock	03/03/2026		S(13)		640	D	$320.48(16)	23,869	D
Common Stock	03/03/2026		S(13)		463	D	$321.5(17)	23,406	D
Common Stock								431	I	by Managed Account(18)
Common Stock								250	I	by Trust(19)

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)	$325.07	03/02/2026		A		10,480		(20)	03/02/2036	Common Stock	10,480	$0.0	10,480	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 over a three-year period, with one third vesting on each of the first, second and third anniversaries of the grant date, subject to the Reporting Persons continuous service with the Issuer as of each such vesting date.

2. Represents shares automatically sold by the Company on behalf of the reporting person pursuant to a mandatory sell-to-cover provision in the award agreement to cover minimum statutory tax withholding obligations.

3. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $323.16 to $324.15. 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 $324.20 to $325.20. 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 $325.21 to $326.21. 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. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $326.23 to $327.23. 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.

7. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $327.24 to $328.24. 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.

8. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $328.28 to $329.26. 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.

9. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $329.29 to $330.29. 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.

10. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $330.30 to $331.30. 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.

11. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $331.32 to $332.31. 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.

12. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $332.34 to $332.24. 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.

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

14. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $316.45 to $317.34. 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.

15. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $318.71 to $319.16. 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.

16. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $319.97 to $320.71. 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.

17. The price reported represents the weighted average sales price of shares sold in multiple transactions at prices ranging from $321.30 to $321.79. 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.

18. 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.

19. 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.

20. The stock option vests as to 25% of the shares on the first anniversary of the grant date and the remaining shares vest in equal installments at the end of each successive three-month period thereafter until the fourth anniversary of the grant date, subject to the Reporting Persons continuous service with the Issuer as of each such vesting date.

	By: Brett Budzinski, Attorney-in-Fact For: Pushkal Garg	03/04/2026
	** 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 did Pushkal Garg report in the latest ALNY Form 4 filing?

Pushkal Garg reported a combination of equity grants and stock sales. He received stock options and restricted stock units, and sold several thousand Alnylam common shares in open-market transactions and automatic tax-withholding sales, all detailed with dates, share counts, and price ranges.

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

The Form 4 shows sales totaling 3,492 common shares of Alnylam stock. These occurred on March 2 and 3, 2026, through multiple open-market transactions at various prices, including trades executed under a pre-arranged Rule 10b5-1 trading plan.

What new equity awards did Pushkal Garg receive from Alnylam (ALNY)?

Garg received a stock option covering 10,480 shares and 4,769 restricted stock units. The RSUs vest in three equal annual installments, and the option vests over four years, conditioned on his continued service with Alnylam Pharmaceuticals.

Were any of Pushkal Garg’s ALNY share sales related to tax withholding?

Yes. The Form 4 notes that some shares were automatically sold by Alnylam to cover minimum statutory tax withholding obligations. This sell-to-cover feature is tied to the equity award agreement rather than a discretionary open-market sale decision.

What is the Rule 10b5-1 trading plan mentioned in the ALNY Form 4?

The filing explains that certain sales were made under a Rule 10b5-1 trading plan adopted on November 20, 2025. Such plans pre-schedule trades, allowing insiders to sell shares under predetermined instructions, helping separate trading activity from day-to-day discretion.

What indirect Alnylam (ALNY) holdings are reported for Pushkal Garg?

The Form 4 lists 431 shares held through a 401(k) managed account and 250 shares held in a trust where his spouse is co-trustee. The filing states that Garg disclaims beneficial ownership of the trust shares.