RNA Form 4: CMO Exercises Options; Multiple Sales under 10b5-1 Plan

Rhea-AI Filing Summary

Steven George Hughes, Chief Medical Officer of Avidity Biosciences (RNA), reported multiple option exercises and subsequent sales on 08/06/2025. He exercised options with strike prices of $15.96, $6.57, $22.47, and $10.16, acquiring 11,283, 12,334, 6,167, and 17,667 shares respectively. Several of the acquired shares were sold the same day under a Rule 10b5-1 trading plan adopted June 12, 2024.

Sales were reported at a weighted-average price of $42.7373 with transaction prices ranging from $40.15 to $46.44. The filing shows the reporting person’s direct beneficial ownership of common stock following the transactions as 38,867 shares. The Form 4 also includes grant dates and monthly vesting schedules for each option grant.

Positive

• Sales were executed under a Rule 10b5-1 trading plan adopted June 12, 2024, which documents pre-arranged, rule-compliant dispositions.
• Multiple option grants and vesting schedules are disclosed (grant dates and monthly vesting installments are provided for each option).

Negative

• Multiple sizeable sales were reported on 08/06/2025 (individual sale entries include 11,283; 12,334; 6,167; 17,667; and 33,983 shares) which materially reduce the reporting person’s immediate shareholding.
• Direct beneficial ownership of common stock after the transactions is shown as 38,867 shares, a notable post-transaction balance disclosed in the filing.

Insights

Financial Analyst

TL;DR: Insider exercised options and sold shares under a 10b5-1 plan; weighted-average sale price $42.7373 recorded.

The reporter exercised four option tranches on 08/06/2025 acquiring 11,283; 12,334; 6,167; and 17,667 shares at strikes of $15.96, $6.57, $22.47, and $10.16 respectively. Multiple sales occurred the same day under a Rule 10b5-1 plan with a reported weighted-average sale price of $42.7373 and per-share sale prices between $40.15 and $46.44. Post-transaction direct beneficial ownership of common stock is shown as 38,867 shares. These transactions are material to monitoring insider liquidity but are documented as plan-based executions.

Corporate Governance Expert

TL;DR: Transactions were executed pursuant to a documented Rule 10b5-1 plan adopted June 12, 2024; vesting schedules and grant dates are included.

The Form 4 discloses that the sales were effected under a Rule 10b5-1 trading plan and provides explicit vesting schedules for each option grant (grant dates: 02/14/2022; 09/11/2023; 01/20/2023; 01/20/2024). The filing is signed by an attorney-in-fact and includes an explanation of price ranges and the reporting person’s undertaking to provide detailed sales data on request. From a governance standpoint, the transaction is properly documented and accompanied by required explanatory notes.

Insider Trade Summary

Net Seller: 81,434 shares ($3,480,269)

Net Sell 13 txns

Insider Hughes Steven George

Role Chief Medical Officer

Sold 81,434 shs ($3.48M)

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	11,283	$0.00	--
Exercise	Stock Option (Right to Buy)	12,334	$0.00	--
Exercise	Stock Option (Right to Buy)	6,167	$0.00	--
Exercise	Stock Option (Right to Buy)	17,667	$0.00	--
Exercise	Common Stock	11,283	$15.96	$180K
Sale	Common Stock	11,283	$42.7373	$482K
Exercise	Common Stock	12,334	$6.57	$81K
Sale	Common Stock	12,334	$42.7373	$527K
Exercise	Common Stock	6,167	$22.47	$139K
Sale	Common Stock	6,167	$42.7373	$264K
Exercise	Common Stock	17,667	$10.16	$179K
Sale	Common Stock	17,667	$42.7373	$755K
Sale	Common Stock	33,983	$42.7373	$1.45M

Holdings After Transaction: Stock Option (Right to Buy) — 73,342 shares (Direct); Common Stock — 84,133 shares (Direct)

Footnotes (1)

1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person on June 12, 2024. This represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $40.15 to $46.44. The Reporting Person undertakes to provide the Issuer, any securityholder 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 the range set forth in this footnote. This option was granted on February 14, 2022 and vests in equal installments of 5,652 shares on each monthly anniversary of such grant date, until it is fully vested and exercisable on February 14, 2026. This option was granted on September 11, 2023 and vests in equal installments of 1,542 shares on each monthly anniversary of such grant date, until it is fully vested and exercisable on September 11, 2027. This option was granted on January 20, 2023 and vests in equal installments of 3,083 shares on each monthly anniversary of such grant date, until it is fully vested and exercisable on January 20, 2027. This option was granted on January 20, 2024 and vests in equal installments of 2,208 shares on each monthly anniversary of such grant date, until it is fully vested and exercisable on January 20, 2028.

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).

X

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^*

Hughes Steven George

(Last) (First) (Middle)

C/O AVIDITY BIOSCIENCES, INC.

10578 SCIENCE CENTER DRIVE, SUITE 125

(Street)

SAN DIEGO CA 92121

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Avidity Biosciences, Inc. [ RNA ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/06/2025

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	08/06/2025		M(1)		11,283	A	$15.96	84,133	D
Common Stock	08/06/2025		S(1)		11,283	D	$42.7373(2)	72,850	D
Common Stock	08/06/2025		M(1)		12,334	A	$6.57	85,184	D
Common Stock	08/06/2025		S(1)		12,334	D	$42.7373(2)	72,850	D
Common Stock	08/06/2025		M(1)		6,167	A	$22.47	79,017	D
Common Stock	08/06/2025		S(1)		6,167	D	$42.7373(2)	72,850	D
Common Stock	08/06/2025		M(1)		17,667	A	$10.16	90,517	D
Common Stock	08/06/2025		S(1)		17,667	D	$42.7373(2)	72,850	D
Common Stock	08/06/2025		S(1)		33,983	D	$42.7373(2)	38,867	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)	$15.96	08/06/2025		M(1)			11,283	(3)	02/13/2032	Common Stock	11,283	$0	73,342	D
Stock Option (Right to Buy)	$6.57	08/06/2025		M(1)			12,334	(4)	09/10/2033	Common Stock	12,334	$0	52,417	D
Stock Option (Right to Buy)	$22.47	08/06/2025		M(1)			6,167	(5)	01/19/2033	Common Stock	6,167	$0	74,000	D
Stock Option (Right to Buy)	$10.16	08/06/2025		M(1)			17,667	(6)	01/19/2034	Common Stock	17,667	$0	75,083	D

Explanation of Responses:

1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person on June 12, 2024.

2. This represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $40.15 to $46.44. The Reporting Person undertakes to provide the Issuer, any securityholder 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 the range set forth in this footnote.

3. This option was granted on February 14, 2022 and vests in equal installments of 5,652 shares on each monthly anniversary of such grant date, until it is fully vested and exercisable on February 14, 2026.

4. This option was granted on September 11, 2023 and vests in equal installments of 1,542 shares on each monthly anniversary of such grant date, until it is fully vested and exercisable on September 11, 2027.

5. This option was granted on January 20, 2023 and vests in equal installments of 3,083 shares on each monthly anniversary of such grant date, until it is fully vested and exercisable on January 20, 2027.

6. This option was granted on January 20, 2024 and vests in equal installments of 2,208 shares on each monthly anniversary of such grant date, until it is fully vested and exercisable on January 20, 2028.

Remarks:

	/s/ John B. Moriarty, Jr., J.D., Attorney-in-Fact	08/08/2025
	** 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.

FAQ

What did Avidity Biosciences (RNA) insider Steven Hughes report on the Form 4?

The Form 4 reports option exercises and multiple sales on 08/06/2025, including exercises of options and sales executed under a Rule 10b5-1 plan.

How many shares were acquired by exercise and at what strike prices?

Options exercised acquired 11,283 shares at $15.96, 12,334 at $6.57, 6,167 at $22.47, and 17,667 at $10.16.

At what price were the insider sales executed for RNA?

Sales were reported at a weighted-average price of $42.7373, with prices ranging from $40.15 to $46.44.

What is Steven Hughes’ beneficial ownership after the reported transactions?

The Form 4 indicates direct beneficial ownership of 38,867 common shares following the reported transactions.

When was the 10b5-1 plan that governed these sales adopted?

The explanatory note states the Rule 10b5-1 trading plan was adopted on June 12, 2024.