Inozyme Director Cashes Out as BioMarin Merger Closes at $4

Rhea-AI Filing Summary

Form 4 Overview: The filing details the final disposition of Inozyme Pharma, Inc. (INZY) equity held by director Axel Bolte in connection with the closing of BioMarin Pharmaceutical’s all-cash acquisition of the company on 1 July 2025.

• Common stock: 423,926 shares tendered and converted into cash at $4.00 per share, the agreed Merger Consideration.
• Stock options: • 234,176 options (exercise $2.02, exp. 6/19/2029) and • 159,187 options (exercise $2.77, exp. 4/22/2030) were automatically accelerated, cancelled and cashed out for the intrinsic value (Merger Consideration minus exercise price) per option share.
• After the transactions, the reporting person holds zero INZY securities; Inozyme is now a wholly-owned subsidiary of BioMarin and will cease public trading.

Investor takeaway: The Form 4 confirms that the merger has reached the final settlement stage, signalling the end of INZY as a standalone public equity and locking in the previously announced $4.00 cash payment for all former shareholders.

Positive

• Merger completion confirmed: Filing provides definitive evidence that BioMarin’s acquisition closed and cash consideration was delivered.

Negative

• Public float eliminated: INZY shareholders no longer participate in future upside; trading in the security will cease.

Insights

M&A Specialist

TL;DR Definitive insider Form 4 confirms BioMarin’s cash acquisition of INZY closed; all shares/options converted to cash, no equity remains outstanding.

The filing is largely administrative but materially confirms consummation of the May 16 2025 merger agreement. All public float is extinguished at $4.00 per share, a price that represented a premium when announced. Option acceleration and cash-out remove any overhang from outstanding awards. For arbitrageurs, the event date (7/1/25) marks final settlement, eliminating deal-closure risk. Post-close, INZY will be delisted and integrated into BioMarin. Rating reflects the information’s confirmatory value rather than incremental news.

Corporate Governance Analyst

TL;DR Director Bolte exits entire position; no governance impact as INZY dissolves into BioMarin.

The Form 4 shows complete divestiture of equity holdings by a board member through mandatory tender and option cash-out. Because INZY no longer exists as an independent entity, ongoing Section 16 reporting obligations terminate. Investors in BioMarin may focus on integration execution; INZY-specific governance risks are now irrelevant. The disclosure is routine yet final in nature.

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

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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).

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^*

Bolte Axel

(Last) (First) (Middle)

C/O INOZYME PHARMA, INC.

321 SUMMER STREET SUITE 400

(Street)

BOSTON MA 02210

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Inozyme Pharma, Inc. [ INZY ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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

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 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
Common Stock	07/01/2025		U(1)		423,926(2)	D	$4	0	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$2.02	07/01/2025		D(1)			234,176	(3)	06/19/2029	Common Stock	234,176	(3)	0	D
Stock Option (Right to Buy)	$2.77	07/01/2025		D(1)			159,187	(3)	04/22/2030	Common Stock	159,187	(3)	0	D

Explanation of Responses:

1. This Form 4 reports securities disposed pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of May 16, 2025, by and among the Issuer, BioMarin Pharmaceutical Inc., a Delaware corporation ("Parent"), and Incline Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Parent ("Merger Sub"). Pursuant to the Merger Agreement, Merger Sub completed a cash tender offer to acquire all of the issued and outstanding shares of common stock of the Issuer, par value $0.0001 per share (the "Company Common Stock"), for a price per share of $4.00 (the "Merger Consideration"), without interest and subject to any withholding of taxes required by applicable law. Effective as of July 1, 2025, Merger Sub merged with and into the Issuer, with the Issuer continuing as the surviving corporation and as a wholly-owned subsidiary of Parent (the "Merger")

2. Pursuant to the terms of the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each share of Company Common Stock held by the Reporting Person was tendered in exchange for the Merger Consideration, without interest and subject to any withholding of taxes required by applicable law.

3. Pursuant to the terms of the Merger Agreement, each outstanding option to purchase shares of Company Common Stock ("Company Option"), whether vested or unvested, that was outstanding immediately prior to the Effective Time and had a per share exercise price that was less than the Merger Consideration was automatically accelerated and became fully vested, was cancelled and automatically converted into the right to receive for each share of Company Common Stock underlying such Company Option, an amount (without interest and subject to deduction for any required withholding under applicable law) in cash equal to the excess of the Merger Consideration over the per share exercise price of such Company Option.

	/s/ Sanjay Subramanian, as attorney-in-fact for Axel Bolte	07/03/2025
	** 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 INZY shareholders receive in the BioMarin merger?

Each share of Inozyme Pharma common stock was converted to $4.00 cash at closing.

How many INZY shares did director Axel Bolte tender?

He tendered 423,926 common shares.

What happened to Axel Bolte’s outstanding stock options?

All options were accelerated, cancelled and cashed out for their intrinsic value based on the $4.00 consideration.

Does Axel Bolte retain any INZY securities after the merger?

No. The filing shows zero shares or options remaining.

Is INZY still publicly traded after 1 July 2025?

No. Inozyme became a wholly-owned BioMarin subsidiary and will be delisted.