Avalyn Pharma (NASDAQ: AVLN) CFO receives 211,975 stock options at $18

Rhea-AI Filing Summary

Avalyn Pharma Inc. reported that its Chief Financial Officer, Douglas R. Carlson, received a grant of stock options covering 211,975 shares of Common Stock. These options have an exercise price of $18.0000 per share and expire on April 28, 2036.

According to the vesting schedule, 25% of the shares vest and become exercisable on September 12, 2025, with the remaining 75% vesting in 36 equal monthly installments, conditioned on his continued service. Following this award, he holds 211,975 derivative securities linked to Avalyn Pharma stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Carlson Douglas R

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	211,975	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 211,975 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Options granted: 211,975 options Exercise price: $18.00 per share Expiration date: April 28, 2036 +4 more

7 metrics

Options granted 211,975 options Stock Option (Right to Buy) granted to CFO on April 30, 2026

Exercise price $18.00 per share Conversion or exercise price of granted options

Expiration date April 28, 2036 Option term end date

Underlying shares 211,975 shares Common Stock underlying the option grant

Post-grant derivative holdings 211,975 derivatives Total derivative securities following transaction

Cliff vesting portion 25% of shares Vest and become exercisable on September 12, 2025

Remainder vesting 75% over 36 months Monthly installments after September 12, 2025

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: 18.0000"

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: 2036-04-28T00:00:00.000Z"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised.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 vest and become exercisable on September 12, 2025"

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.

Common Stock financial

"underlying_security_title: Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 Insider Transactions: What Each Field Means →

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).

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^*

Carlson Douglas R

(Last) (First) (Middle)

C/O AVALYN PHARMA INC.

105 W FIRST STREET

(Street)

BOSTON MASSACHUSETTS 02127

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/29/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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

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
Stock Option (Right to Buy)	$18	04/30/2026		A		211,975		(1)	04/28/2036	Common Stock	211,975	$0.00	211,975	D

Explanation of Responses:

1. 25% of the shares underlying this option vest and become exercisable on September 12, 2025, with the remaining 75% vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date.

	/s/ Douglas Carlson	05/01/2026
	** 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 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Avalyn Pharma (AVLN) disclose about its CFO’s recent equity award?

Avalyn Pharma disclosed that its CFO, Douglas R. Carlson, received a grant of stock options for 211,975 shares at an exercise price of $18.00 per share, expiring April 28, 2036. The award vests over time, tied to his continued service.

How many Avalyn Pharma (AVLN) stock options were granted to the CFO?

The CFO received stock options covering 211,975 shares of Avalyn Pharma Common Stock. These options are a compensation-related award, not an open-market purchase, and become exercisable gradually based on a specified multi-year vesting schedule tied to his continued employment.

What is the exercise price and term of the Avalyn Pharma (AVLN) CFO stock options?

The options have an exercise price of $18.00 per share and expire on April 28, 2036. This gives the CFO the right to buy Avalyn Pharma Common Stock at that price if and when the options vest and he chooses to exercise.

How do the Avalyn Pharma (AVLN) CFO stock options vest over time?

Twenty-five percent of the shares underlying the option vest and become exercisable on September 12, 2025. The remaining 75% vest in 36 equal monthly installments thereafter, provided the CFO continues to serve the company on each monthly vesting date.

Are the Avalyn Pharma (AVLN) CFO’s stock options an open-market purchase or a grant?

The transaction is a grant of stock options as compensation, coded as a grant, award, or other acquisition. It is not an open-market share purchase, and no shares were sold; the CFO received the right to buy shares in the future at a fixed price.