Atea Pharma Form 4: Polsky’s RSU Vesting & New $3.25 Option Grant

Rhea-AI Filing Summary

Form 4 highlights for Atea Pharmaceuticals, Inc. (AVIR)

• Reporting person: Bruce Polsky, Director.
• Transaction date: 20 Jun 2025; filing date 24 Jun 2025.
• Non-derivative shares: 29,600 common shares acquired at $0.00 upon RSU vesting; total direct ownership now 95,206 shares.
• New derivative grants:
  • 29,600 Restricted Stock Units (RSUs) that vest on the earlier of the 2026 annual meeting or 1-year anniversary of grant.
  • 41,200 stock options with a $3.25 exercise price, vesting monthly over 12 months and expiring 19 Jun 2035.
• Derivative disposition: 29,600 RSUs converted to common stock (code “M”), leaving zero balance for that award.

The filing reflects routine director equity compensation—no open-market buying or selling—and increases Mr. Polsky’s direct equity stake in AVIR. No cash outlay was required for the RSU conversion; the new option strike establishes the cost basis for potential future purchases.

Positive

• Director’s ownership increases to 95,206 shares, enhancing alignment with shareholder interests.
• Timely Section 16 filing demonstrates strong compliance and governance practices.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine equity awards; modestly aligns director with shareholders, but not a market-moving event.

The Form 4 shows standard annual grants—a 29.6k RSU award, monthly-vesting options on 41.2k shares at a $3.25 strike, plus automatic conversion of previously vested RSUs. Because no open-market purchase occurred and all shares were acquired at no cost, the signal value is limited. Post-transaction ownership of 95.2k shares is meaningful for alignment yet represents a small fraction of AVIR’s outstanding stock. Overall impact on valuation or liquidity is negligible.

Corporate Governance Expert

TL;DR: Filing indicates on-schedule compensation; supports governance best practices, impact neutral.

The equity grants follow Atea’s standard director compensation cadence—single-year RSU vesting tied to the next AGM and options vesting monthly over a year. Such structures incentivize continued board service without creating short-term trading pressure. No red flags around accelerated vesting or unusual option pricing appear. Compliance with Section 16 reporting timelines (filed within two business days) is met, reflecting sound disclosure controls.

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).

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^*

Polsky Bruce

(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)	95,206	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	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	41,200	D
Restricted Stock Units	(1)	06/20/2025		M			29,600	(4)	(4)	Common Stock	29,600	$0	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 Bruce Polsky	06/24/2025
	** 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.
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FAQ

How many Atea Pharmaceuticals (AVIR) shares did Director Bruce Polsky acquire?

He acquired 29,600 common shares on 20 Jun 2025 via RSU conversion at no cost.

What new derivative securities were granted in this Form 4?

Polsky received 29,600 RSUs and 41,200 stock options with a $3.25 strike price.

When do the newly granted RSUs for AVIR vest?

They vest in a single installment on the earlier of the 2026 annual meeting or the first anniversary of 20 Jun 2025.

What is the exercise schedule for the $3.25 stock options?

Options vest in 12 equal monthly installments starting 20 Jun 2025 and fully vest by 20 Jun 2026; they expire 19 Jun 2035.

How many AVIR shares does Bruce Polsky own after the reported transactions?

He beneficially owns 95,206 common shares directly.