Atea Pharma insider Berger ups stake to 506k shares, receives new RSUs/options

Rhea-AI Filing Summary

Form 4 filing (24-Jun-2025) reveals that Atea Pharmaceuticals (AVIR) director Franklin M. Berger increased his ownership through equity-based compensation granted on 20-Jun-2025. A total of 29,600 previously issued restricted stock units (RSUs) vested and converted into common shares (Code M) at a $0.00 cost, lifting his direct holdings to 506,497 shares. Concurrently, Berger received 29,600 new RSUs that will vest at the next annual meeting or one-year anniversary, and 41,200 stock options with a $3.25 exercise price expiring 19-Jun-2035, vesting monthly over 12 months. No shares were sold. The transactions signal net insider accumulation while introducing modest potential dilution through the new RSUs and options.

Positive

• Director acquired 29,600 shares via RSU vesting, increasing direct ownership to 506,497 shares with no sales reported.
• Equity awards (RSUs and options) further align director incentives with shareholder value creation.

Negative

• Granting 41,200 options and 29,600 RSUs adds incremental share dilution upon future exercise or vesting.

Insights

Securities Analyst

TL;DR: Routine director equity grant; modest insider accumulation, limited immediate market impact.

The filing is largely standard board compensation. Berger’s 29,600-share RSU conversion raises his stake to 506 k shares, which may be read as an alignment signal but represents a small fraction of AVIR’s float. The simultaneous grant of 29,600 RSUs and 41,200 options at a strike of $3.25 introduces incremental dilution, yet the amounts are immaterial relative to total shares outstanding. Because there was no open-market purchase or sale, the filing offers limited guidance on near-term valuation sentiment. Overall, the disclosure is neutral from a risk-reward standpoint and unlikely to move the stock.

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).

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^*

BERGER FRANKLIN M

(Last) (First) (Middle)

225 FRANKLIN STREET

SUITE 2100

(Street)

BOSTON MA 02110

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Atea Pharmaceuticals, Inc. [ AVIR ]

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)
06/20/2025

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	06/20/2025		M		29,600	A	$0.00(1)	506,497	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 Units	(1)	06/20/2025		A		29,600		(2)	(2)	Common Stock	29,600	$0.00	29,600	D
Stock Option (Right to Buy)	$3.25	06/20/2025		A		41,200		(3)	06/19/2035	Common Stock	41,200	$0.00	41,200	D
Restricted Stock Units	(1)	06/20/2025		M			29,600	(4)	(4)	Common Stock	29,600	$0.00	0	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. The restricted stock units vest in a single installment on the earlier of (i) the date of the next annual meeting of the Issuer's stockholders occurring after the date of grant or (ii) the first anniversary of the date of grant, in each case, subject to the Reporting Person's continued service through the applicable vesting date.

3. The option vests and becomes exercisable in twelve (12) substantially equal monthly installments following June 20, 2025, such that the option shall be fully vested on the first anniversary of the date of grant, subject to the Reporting Person's continued service through each such vesting date.

4. The restricted stock units vested in full on June 20, 2025.

	/s/ Andrea Corcoran, as Attorney-in-Fact for Franklin M. Berger	06/24/2025
	** Signature of Reporting Person	Date
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FAQ

How many AVIR shares does Franklin M. Berger now directly own?

After the RSU conversion, he directly owns 506,497 common shares.

What are the terms of the newly granted AVIR stock options?

Berger received 41,200 options with a $3.25 strike price, vesting monthly over one year and expiring 19-Jun-2035.

Did the insider sell any AVIR shares in this Form 4?

No. All reported transactions were acquisitions or grants; no dispositions were recorded.

When will the new RSUs granted on 20-Jun-2025 vest?

They vest in a single tranche on the earlier of the next annual shareholder meeting or one year from grant date, subject to continued service.

Will these grants materially dilute AVIR shareholders?

The 29,600 RSUs and 41,200 options represent a minor addition relative to Atea’s total shares outstanding, creating limited dilution risk.