Director Kate Haviland receives 26,978 Avalyn Pharma (AVLN) stock options at $18

Rhea-AI Filing Summary

Avalyn Pharma Inc. director Kate Haviland received a new stock option grant covering 26,978 shares of common stock. The option has an exercise price of $18.00 per share and expires on April 28, 2036.

This award is compensation-related, not an open-market trade. According to the vesting terms, 25% of the shares underlying the option vest on September 12, 2025, with the remaining 75% vesting in 36 equal monthly installments thereafter, subject to her continued service. Following this grant, she holds 26,978 stock options directly from this award.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Haviland Kate

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	26,978	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 26,978 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Option grant size: 26,978 options Exercise price: $18.00 per share Expiration date: April 28, 2036 +3 more

6 metrics

Option grant size 26,978 options Stock Option (Right to Buy) granted to director

Exercise price $18.00 per share Conversion or exercise price of stock option

Expiration date April 28, 2036 Option expiration date

Post-transaction options 26,978 options Total derivative securities following transaction

Initial vesting tranche 25% of shares Vesting on September 12, 2025

Remaining vesting schedule 75% over 36 months Monthly vesting after September 12, 2025

Key Terms

Stock Option (Right to Buy), exercise price, vesting, derivative securities, +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.

vesting financial

"25% of the shares underlying this option vest and become 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.

derivative securities financial

"derivativeTransactionCount: 1"

Financial contracts whose value is tied to the price or performance of another asset, such as a stock, bond, commodity, index, or currency; examples include options, futures and swaps. They matter to investors because they let you protect against price swings, bet on future moves or gain larger exposure with less upfront cash—like using a lever or insurance policy on an investment—so they can amplify gains and losses and help manage portfolio risk.

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.

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^*

Haviland Kate

(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)

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

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	04/29/2026		A		26,978		(1)	04/28/2036	Common Stock	26,978	$0.00	26,978	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) director Kate Haviland report on this Form 4?

Kate Haviland reported receiving a stock option grant for 26,978 Avalyn Pharma shares. The award is a compensation-related option, not an open-market stock purchase or sale, and gives her the right to buy common shares at a fixed exercise price.

How many Avalyn Pharma (AVLN) shares are covered by Kate Haviland’s new option?

The new stock option grant covers 26,978 shares of Avalyn Pharma common stock. These shares can be purchased upon exercise of the option once they vest, giving her potential equity exposure tied to the company’s future performance and her continued service.

What is the exercise price and expiration date of Kate Haviland’s Avalyn Pharma option?

The option has an exercise price of $18.00 per share and expires on April 28, 2036. This means she can choose to buy Avalyn Pharma shares at $18.00, once vested, any time before the 2036 expiration date stated in the grant.

How does the Avalyn Pharma (AVLN) stock option granted to Kate Haviland vest?

Vesting occurs over time: 25% of the shares underlying the option vest on September 12, 2025. The remaining 75% then vest in 36 equal monthly installments, contingent on her continued service on each scheduled vesting date as described.

Is Kate Haviland’s Avalyn Pharma Form 4 a stock purchase or sale?

The Form 4 reports a stock option grant, not a stock purchase or sale in the open market. The transaction is coded as a grant or award, giving her the right to buy shares later rather than reflecting an immediate buy or sell transaction.

How many Avalyn Pharma options does Kate Haviland hold after this grant?

Following this reported transaction, she holds 26,978 stock options from the award. This figure reflects the total derivative securities from this specific grant shown, with the options subject to the vesting schedule and future exercise decisions.