Avalyn Pharma (AVLN) executive reports sizable stock option positions in Form 3

Rhea-AI Filing Summary

Avalyn Pharma Inc. executive Carlson Douglas R filed an initial Form 3 showing stock option holdings in the company. He holds options to acquire 83,576 shares of common stock at an exercise price of $4.81 per share, expiring on September 10, 2035, and options on 270,498 shares at $4.62 per share, expiring on June 10, 2034.

For the $4.81 options, 25% of the underlying shares vested on May 1, 2025, with the remaining 75% vesting in 36 equal monthly installments, subject to continued service. For the $4.62 options, 25% vest on May 29, 2026, with the balance also vesting in 36 monthly installments, contingent on his continued service.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Carlson Douglas R

Role See Remarks

Type	Security	Shares	Price	Value
holding	Stock Option (right to buy)	--	--	--
holding	Stock Option (right to buy)	--	--	--

Holdings After Transaction: Stock Option (right to buy) — 270,498 shares (Direct, null)

Footnotes (1)

1. 25% of the shares underlying this option vested and became exercisable on May 1, 2025, with the remaining 75% vesting in thirty-six (36) substantially equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date. 25% of the shares underlying this option vest and become exercisable on May 29, 2026, with the remaining 75% vesting in thirty-six (36) substantially equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date.

Key Figures

Option exercise price: $4.81 per share Underlying shares: 83,576 shares Option exercise price: $4.62 per share +3 more

6 metrics

Option exercise price $4.81 per share Stock option on 83,576 underlying common shares

Underlying shares 83,576 shares Common stock underlying $4.81 options, expiring September 10, 2035

Option exercise price $4.62 per share Stock option on 270,498 underlying common shares

Underlying shares 270,498 shares Common stock underlying $4.62 options, expiring June 10, 2034

Initial vesting date May 1, 2025 25% vesting for $4.81 options; remaining 75% over 36 months

Initial vesting date May 29, 2026 25% vesting for $4.62 options; remaining 75% over 36 months

Key Terms

Stock Option (right to buy), exercise price, expiration date, vesting, +1 more

5 terms

Stock Option (right to buy) financial

"security_title: Stock Option (right to buy)"

exercise price financial

"conversion_or_exercise_price: 4.8100"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

expiration date financial

"expiration_date: 2035-09-10T00:00:00.000Z"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

vesting financial

"25% of the shares underlying this option vested and became exercisable"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Form 3 regulatory

"initial Form 3 showing stock option holdings"

Form 3 is the initial public filing that officers, directors and large shareholders must submit to report their ownership of a company’s securities when they become insiders. It acts like an opening inventory sheet that gives investors a starting point to see who holds significant stakes and to spot later trades or potential conflicts of interest, helping assess insider confidence and transparency.

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Carlson Douglas R

(Last) (First) (Middle)

105 W FIRST STREET

(Street)

BOSTON MASSACHUSETTS 02127

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
04/29/2026

3. Issuer Name and Ticker or Trading Symbol
Avalyn Pharma Inc. [ AVLN ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

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

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

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	(1)	06/10/2034	Common Stock	270,498	$4.62	D
Stock Option (right to buy)	(2)	09/10/2035	Common Stock	83,576	$4.81	D

Explanation of Responses:

1. 25% of the shares underlying this option vested and became exercisable on May 1, 2025, with the remaining 75% vesting in thirty-six (36) substantially equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date.

2. 25% of the shares underlying this option vest and become exercisable on May 29, 2026, with the remaining 75% vesting in thirty-six (36) substantially equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date.

Remarks:

Chief Financial and Business Officer Exhibit 24 - Power of Attorney

	/s/ Douglas Carlson	04/29/2026
	** 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 5 (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.
* Form 3: SEC 1473 (03-26)

FAQ

What does the Avalyn Pharma (AVLN) Form 3 filing for Carlson Douglas R show?

The Form 3 shows Carlson Douglas R’s initial derivative holdings in Avalyn Pharma, including stock options to buy 83,576 shares at $4.81 and 270,498 shares at $4.62, with specified vesting schedules and long-dated expiration dates in 2034 and 2035.

How many Avalyn Pharma (AVLN) shares are covered by Carlson Douglas R’s stock options?

Carlson Douglas R holds stock options linked to 83,576 shares of common stock at a $4.81 exercise price and 270,498 shares at a $4.62 exercise price, giving exposure to a total of 354,074 underlying Avalyn Pharma common shares, subject to vesting and exercise conditions.

What are the vesting terms of Carlson Douglas R’s Avalyn Pharma (AVLN) options?

For the $4.81 options, 25% of the underlying shares vested on May 1, 2025, with the remaining 75% vesting in 36 equal monthly installments. For the $4.62 options, 25% vest on May 29, 2026, with the rest vesting over 36 monthly installments, all requiring continued service.

When do Carlson Douglas R’s Avalyn Pharma (AVLN) stock options expire?

The options with a $4.81 exercise price expire on September 10, 2035, and the options with a $4.62 exercise price expire on June 10, 2034. These long-dated expirations give a multi‑year window during which vested options can potentially be exercised.

Does the Avalyn Pharma (AVLN) Form 3 indicate any recent buying or selling by Carlson Douglas R?

The Form 3 reflects holdings, not recent trades, and shows no buy or sell transactions. It lists existing stock option positions, their exercise prices, expiration dates, and vesting terms, establishing a baseline of Carlson Douglas R’s derivative ownership in Avalyn Pharma.