[Form 4] Aptevo Therapeutics Inc Insider Trading Activity

Rhea-AI Filing Summary

On 17 July 2025, Aptevo Therapeutics (APVO) filed a Form 4 reporting that SoYoung Kwon, SVP & General Counsel, converted 3 restricted stock units (RSUs) into an equal number of common shares (transaction code M). The RSUs carried a $0 exercise price and were part of an 8,550-unit grant (11 units post-reverse-split) awarded on 17 July 2024.

After the conversion, Kwon directly owns 4 common shares and retains 8 unvested RSUs, which are scheduled to vest in two additional annual installments through 17 July 2027. No open-market purchase or sale occurred, and the filing reflects an immaterial change in insider ownership.

Insights

Financial Analyst

TL;DR: Minor insider RSU vesting; negligible ownership change, low market impact.

The conversion of 3 RSUs into common shares marginally increases Kwon’s direct stake to four shares. Given Aptevo’s float, this is economically insignificant and provides little insight into management’s sentiment or near-term fundamentals. No cash outlay, sale, or option exercise price is involved, so dilution effects are de minimis. I view the disclosure as routine administrative reporting rather than a signal.

Corporate Governance Specialist

TL;DR: Routine Form 4 fulfills Section 16 obligation; governance impact neutral.

The filing demonstrates compliance with insider-trading disclosure rules. The tiny share count—post-reverse-split—and the absence of open-market activity mean alignment incentives are unchanged. Investors should not infer strategic intent from this vesting event. Impact on governance metrics (e.g., insider ownership percentage) is effectively nil.

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).

1. Name and Address of Reporting Person^*

Kwon SoYoung

(Last) (First) (Middle)

2401 4TH AVENUE

SUITE 1050

(Street)

SEATTLE WA 98121

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Aptevo Therapeutics Inc. [ APVO ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, GC, BD & Corp Affairs

3. Date of Earliest Transaction (Month/Day/Year)
07/17/2025

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
Common Stock	07/17/2025		M		3	A	(1)	4	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
Restricted Stock Unit	(1)	07/17/2025		M			3	(2)	(2)	Common Stock	11	$0	8	D

Explanation of Responses:

1. Restricted Stock Units ("RSUs") convert into common stock, $0.001 par value per share, of the Issuer on a one-for-one basis.

2. On July 17, 2024, the reporting person was granted 8,550 (11 post-splits) RSUs, vesting in three approximately equal annual installments beginning on July 17, 2025.

	/s/ SoYoung Kwon, Attorney-In-Fact	07/21/2025
	** 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

How many APVO shares did SoYoung Kwon acquire on 17-Jul-2025?

The Form 4 shows the conversion of 3 RSUs into 3 common shares.

What does transaction code "M" mean in this APVO Form 4?

Code M indicates an exercise or conversion of a derivative security—in this case, RSUs—into common stock.

What is Kwon’s total APVO share ownership after the transaction?

Following the conversion, Kwon directly owns 4 APVO common shares.

How many RSUs remain unvested for SoYoung Kwon?

Kwon retains 8 unvested RSUs from the original 11-unit (post-split) grant.

Did the RSU conversion involve any cash payment?

No. The RSUs convert on a 1-for-1 basis at a $0 exercise price; no cash changed hands.