[Form 4] Aptevo Therapeutics Inc Insider Trading Activity

Rhea-AI Filing Summary

TKO Group Holdings (TKO) filed a Form 144 indicating that President Nicholas Khan plans to sell up to 81,173 common shares through Morgan Stanley on or about 07/21/2025. At the most recent reference price, the transaction is valued at $13.86 million. The intended sale represents roughly 0.10 % of the 81.7 million shares outstanding.

The shares derive from restricted-stock units that vested 07/02/2025 under a company equity plan and are being sold for “services rendered.” Khan has already executed two open-market sales during the past three months—9,519 shares on 06/02/2025 for $1.51 million and 9,519 shares on 07/03/2025 for $1.68 million. Including the proposed sale, his cumulative disclosed disposals over the period could reach 100,211 shares, or about $17.0 million in gross proceeds.

No additional financial results, guidance, or transaction details are provided. A Form 144 is a notice of intent; the transaction may or may not be completed.

Positive

• None.

Negative

• Large insider sale: Proposed disposal of 81,173 shares valued at $13.9 m, plus 19,038 shares already sold, may pressure sentiment.
• Continued selling trend: Three separate Form 144-related transactions within three months suggest persistent insider distribution.

Insights

Securities Analyst

TL;DR: Senior insider plans $13.9 m share sale, adding to $3.2 m recently sold; signals potential profit-taking.

The filing shows Nicholas Khan intends to liquidate 81,173 shares, adding to two prior 9,519-share sales. While Form 144s do not guarantee execution, cumulative planned and completed disposals of ~100 k shares (~$17 m) are large enough to be noticed by investors and could create short-term supply pressure. The sale follows restricted-stock vesting, suggesting routine diversification, yet the magnitude and frequency warrant monitoring for sentiment implications. No operational data accompany the notice; therefore, fundamental impact is indirect, but insider disposition often correlates with modestly negative price reactions.

Corporate Governance Expert

TL;DR: High-ranking executive cashing out post-merger equity; governance risk low, perception risk elevated.

Form 144 compliance appears in order—shares stem from a registered plan and Rule 144 volume limits are respected. However, the timing—less than a year after the TKO formation—may raise optics questions among shareholders looking for long-term alignment. Because the filing declares the executive possesses no undisclosed adverse information, there is no red-flag under Rule 10b5-1. Still, concentrated insider selling can erode investor confidence if not balanced by buybacks or other signals of management commitment.

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).

1. Name and Address of Reporting Person^*

Niederhuber John

(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)

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

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		1	A	(1)	1	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			1	(2)	(2)	Common Stock	1	$0	0	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 925 (1 post-splits) RSUs, vesting in full one year from the date of grant.

	/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 TKO shares does Nicholas Khan plan to sell under this Form 144?

He intends to sell 81,173 common shares.

What is the estimated dollar value of the planned TKO share sale?

The gross value is approximately $13.86 million based on the figures in the filing.

When is the planned sale date for Nicholas Khan’s TKO shares?

The approximate sale date disclosed is 07/21/2025.

How many TKO shares has Nicholas Khan already sold in the past three months?

He sold 9,519 shares on 07/03/2025 and 9,519 shares on 06/02/2025, totaling 19,038 shares.

Does the Form 144 guarantee that the insider will sell the declared shares?

No. A Form 144 is only a notice of intent; the sale may or may not be executed.