Were the Avalo Therapeutics (AVTX) CFO share sales under a Rule 10b5-1 plan?

Yes. The filing states the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on November 12, 2025. Such plans pre-schedule trades, helping insiders systematically sell shares without making ad hoc timing decisions.

Avalo Therapeutics (AVTX) CFO trims stake in 10b5-1 share sales

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Avalo Therapeutics Chief Financial Officer Christopher Ryan Sullivan sold 16,915 shares of common stock in open-market transactions. He sold 8,458 shares on April 29, 2026 at an average price of $13.0925 and 8,457 shares on April 30, 2026 at an average price of $13.2261. The sales were executed under a Rule 10b5-1 trading plan adopted on November 12, 2025, with actual prices ranging from $12.61 to $13.54. Following these transactions, he directly holds 423 shares, down from 17,338 shares before the sales.

Insider Trade Summary 10b5-1

Net Seller: 16,915 shares ($222,589)

Net Sell 2 txns

Insider Sullivan Christopher Ryan

Role Chief Financial Officer

Sold 16,915 shs ($223K)

Type	Security	Shares	Price	Value
Sale	Common Stock	8,457	$13.2261	$112K
Sale	Common Stock	8,458	$13.0925	$111K

Holdings After Transaction: Common Stock — 423 shares (Direct, null)

Footnotes (1)

The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 12, 2025. The reported securities were sold in multiple transactions at prices ranging from $12.74 to $13.50. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range. The reported securities were sold in multiple transactions at prices ranging from $12.61 to $13.54. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

Key Figures

Shares sold April 29, 2026: 8,458 shares at $13.0925 Shares sold April 30, 2026: 8,457 shares at $13.2261 Total shares sold: 16,915 shares +3 more

6 metrics

Shares sold April 29, 2026 8,458 shares at $13.0925 Open-market sale of common stock

Shares sold April 30, 2026 8,457 shares at $13.2261 Open-market sale of common stock

Total shares sold 16,915 shares Net shares sold across both transactions

Shares held after transactions 423 shares Direct ownership following April 30, 2026 sale

Price range April 29, 2026 $12.74–$13.50 Multiple trades within this range

Price range April 30, 2026 $12.61–$13.54 Multiple trades within this range

Key Terms

Rule 10b5-1 trading plan, open-market sale, Form 4, common stock

4 terms

Rule 10b5-1 trading plan regulatory

"transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Form 4 regulatory

"The transactions reported in this Form 4 were effected pursuant"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

common stock financial

"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 →

05/01/2026 - 04:37 PM

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^*

Sullivan Christopher Ryan

(Last)

(First)

(Middle)

C/O AVALO THERAPEUTICS, INC.

1500 LIBERTY RIDGE DRIVE, SUITE 321

(Street)

WAYNE

PENNSYLVANIA

19087

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Avalo Therapeutics, Inc. [ AVTX ]

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/29/2026		S⁽¹⁾		8,458	D	$13.0925⁽²⁾	8,880	D
Common Stock	04/30/2026		S⁽¹⁾		8,457	D	$13.2261⁽³⁾	423	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 12, 2025.

2. The reported securities were sold in multiple transactions at prices ranging from $12.74 to $13.50. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

3. The reported securities were sold in multiple transactions at prices ranging from $12.61 to $13.54. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

	/s/ Christopher Sullivan	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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Avalo Therapeutics (AVTX) report?

Avalo Therapeutics reported that its Chief Financial Officer Christopher Ryan Sullivan sold 16,915 shares of common stock in two open-market transactions. These trades occurred on April 29 and April 30, 2026, and were reported on a Form 4 insider filing.

How many Avalo Therapeutics (AVTX) shares did the CFO sell and at what prices?

The CFO sold a total of 16,915 Avalo Therapeutics shares. He sold 8,458 shares at an average price of $13.0925 and 8,457 shares at an average price of $13.2261, with execution prices ranging from $12.61 to $13.54.

How many Avalo Therapeutics (AVTX) shares does the CFO hold after these sales?

After the reported sales, the CFO directly holds 423 Avalo Therapeutics common shares. Before the transactions he held 17,338 shares, so the Form 4 shows a substantial reduction in his direct ownership position in the company.

On what dates did the Avalo Therapeutics (AVTX) CFO sell shares?

The CFO sold Avalo Therapeutics shares on April 29, 2026 and April 30, 2026. Each day’s sales involved thousands of shares executed in multiple trades within stated price ranges, as detailed in the Form 4 footnotes.