BAC entities fall under 10% ownership in Aptevo

Rhea-AI Filing Summary

Bank of America Corporation, together with Bank of America N.A. and BofA Securities, Inc., filed a joint Form 4 to report that their combined beneficial ownership in Aptevo Therapeutics Inc. (APVO) has fallen below 10%. The filing lists the reporting entities' Charlotte, NC addresses and includes authorized signatures dated 10/03/2025. The statement explains the purpose is to indicate these entities are no longer subject to Section 16 reporting obligations because their ownership decreased under the 10% threshold.

Positive

• Reporting obligation ended as combined ownership dropped below 10%, simplifying compliance
• Joint filing clarifies ownership change for investors and regulators

Negative

• Reduced transparency for APVO shareholders because Section 16 reporting by these entities will no longer be required

Insights

Corporate Governance Analyst

Bank of America group reduced holdings below 10%, ending Section 16 status.

The joint filing by Bank of America, BANA, and BofA Securities, Inc. formally notifies the market that their combined stake in Aptevo Therapeutics (APVO) is now under the 10% ownership threshold.

This change removes certain insider reporting requirements under Section 16, which can reduce short-term filing transparency about transactions by these entities but does not by itself disclose any specific share counts or recent buy/sell transactions in this Form 4.

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

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X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BANK OF AMERICA CORP /DE/

(Last) (First) (Middle)

BANK OF AMERICA CORPORATE CENTER

100 N TRYON ST

(Street)

CHARLOTTE NC 28255

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Aptevo Therapeutics Inc. [ APVO ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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

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

	Form filed by One Reporting Person
X	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

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

1. Name and Address of Reporting Person^*

BANK OF AMERICA CORP /DE/

(Last) (First) (Middle)

BANK OF AMERICA CORPORATE CENTER

100 N TRYON ST

(Street)

CHARLOTTE NC 28255

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

BANK OF AMERICA NA

(Last) (First) (Middle)

100 NORTH TRYON STREET

(Street)

CHARLOTTE NC 28255

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

BOFA SECURITIES, INC.

(Last) (First) (Middle)

150 N COLLEGE ST

NC1-028-28-04

(Street)

CHARLOTTE NC 28255

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

Remarks:

This statement is jointly filed by Bank of America Corporation ("Bank of America"), Bank of America N.A. ("BANA"), and BofA Securities, Inc. ("BOFAS"). Bank of America, BANA and BOFAS are submitting this form to indicate they are no longer subject to Section 16 as their beneficial ownership has decreased below 10 percent.

	/s/ Andres Ortiz, Authorized Signatory for Bank of America Corporation	10/03/2025
	/s/ Andres Ortiz, Authorized Signatory for Bank of America N.A	10/03/2025
	/s/ Andres Ortiz, Authorized Signatory for BofA Securities, Inc.	10/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Bank of America (BAC) report about its stake in Aptevo (APVO)?

The Bank of America entities reported their combined beneficial ownership in Aptevo Therapeutics (APVO) decreased below 10%, and they filed to indicate they are no longer subject to Section 16 reporting.

When was the Form 4 filed and signed?

The Form 4 includes authorized signatures dated 10/03/2025 and cites a transaction date of 10/01/2025 as the earliest transaction date.

Which entities jointly filed this Form 4?

The statement was jointly filed by Bank of America Corporation, Bank of America N.A., and BofA Securities, Inc..

Does the filing disclose the number of shares sold or remaining?

No; this Form 4 only states the group’s beneficial ownership decreased below 10% and does not provide specific share counts or prices.

What is the immediate reporting implication of this filing?

Because ownership is now under 10%, these entities are no longer subject to Section 16 reporting obligations related to APVO.