Wave Life Sciences (WVE) CFO Kyle Moran files Form 4 for option exercises and stock sales

Rhea-AI Filing Summary

Wave Life Sciences Ltd. reported insider transactions by its Chief Financial Officer, Kyle Moran, in a Form 4 filing. On December 8–9, 2025, he exercised multiple share options and sold ordinary shares in the company.

The transactions included option exercises coded "M" and sales coded "S" in several tranches. Reported sales used weighted-average prices around $13.20, $15.00–$15.045, and $20.00–$20.22 per share, with the filing noting that detailed price breakdowns are available on request. These trades were carried out under a Rule 10b5-1 trading plan adopted on March 13, 2025.

After the reported transactions, Moran directly beneficially owned 90,365 ordinary shares of Wave Life Sciences and held several fully vested or scheduled-vesting share options with exercise prices ranging from $2.83 to $10.48 per share and expirations between 2030 and 2033.

Insider Trade Summary

Net Seller: 260,036 shares ($4,103,979)

Net Sell 16 txns

Insider Moran Kyle

Role Chief Financial Officer

Sold 260,036 shs ($4.10M)

Type	Security	Shares	Price	Value
Grant/Award	Share Option (right to buy)	36,000	$0.00	--
Grant/Award	Share Option (right to buy)	50,000	$0.00	--
Exercise	Ordinary Shares	36,000	$8.17	$294K
Sale	Ordinary Shares	36	$20.25	$729.00
Exercise	Ordinary Shares	50,000	$10.48	$524K
Sale	Ordinary Shares	50,000	$20.025	$1.00M
Grant/Award	Share Option (right to buy)	60,000	$0.00	--
Grant/Award	Share Option (right to buy)	100,000	$0.00	--
Grant/Award	Share Option (right to buy)	50,000	$0.00	--
Exercise	Ordinary Shares	60,000	$2.83	$170K
Sale	Ordinary Shares	60,000	$13.20	$792K
Exercise	Ordinary Shares	100,000	$3.14	$314K
Sale	Ordinary Shares	50,000	$15.00	$750K
Sale	Ordinary Shares	50,000	$13.20	$660K
Exercise	Ordinary Shares	50,000	$4.75	$238K
Sale	Ordinary Shares	50,000	$18.00	$900K

Holdings After Transaction: Share Option (right to buy) — 0 shares (Direct); Ordinary Shares — 125,218 shares (Direct)

Footnotes (1)

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 13, 2025. These share options are fully vested. The share option represented a right to purchase a total of 175,000 ordinary shares that vest as to 25% of the shares on January 1, 2023 and vests as to an additional 6.25% of the shares quarterly thereafter until January 1, 2026. The price reflected is the weighted-average sale price for shares sold. The shares were sold in multiple transactions and the range of sale prices for the transactions reported was $15.00 to $15.045 per share. 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. The share option represented a right to purchase a total of 272,200 ordinary shares that vest as to 25% of the shares on February 17, 2024 and vests as to an additional 6.25% of the shares quarterly thereafter until February 17, 2027. The price reflected is the weighted-average sale price for shares sold. The shares were sold in multiple transactions and the range of sale prices for the transactions reported was $20.00 to $20.22 per share. 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. Includes 1,147 ordinary shares acquired on July 14, 2025, under the issuer's 2019 Employee Share Purchase Plan.

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^*

Moran Kyle

(Last) (First) (Middle)

C/O WAVE LIFE SCIENCES LTD.,

733 CONCORD AVE.

(Street)

CAMBRIDGE MA 02138

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Wave Life Sciences Ltd. [ WVE ]

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

3. Date of Earliest Transaction (Month/Day/Year)
12/08/2025

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
Ordinary Shares	12/08/2025		M(1)		60,000	A	$2.83	149,218	D
Ordinary Shares	12/08/2025		S(1)		60,000	D	$13.2	89,218	D
Ordinary Shares	12/08/2025		M(1)		100,000	A	$3.14	189,218	D
Ordinary Shares	12/08/2025		S(1)		50,000	D	$15(4)	139,218	D
Ordinary Shares	12/08/2025		S(1)		50,000	D	$13.2	89,218	D
Ordinary Shares	12/08/2025		M(1)		50,000	A	$4.75	139,218	D
Ordinary Shares	12/08/2025		S(1)		50,000	D	$18	89,218	D
Ordinary Shares	12/09/2025		M(1)		36,000	A	$8.17	125,218	D
Ordinary Shares	12/09/2025		S(1)		36	D	$20.25(6)	89,218	D
Ordinary Shares	12/09/2025		M(1)		50,000	A	$10.48	139,218	D
Ordinary Shares	12/09/2025		S(1)		50,000	D	$20.025(6)	90,365(7)	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
Share Option (right to buy)	$2.83	12/08/2025		A			60,000	(2)	07/25/2032	Ordinary Shares	60,000	$0	0	D
Share Option (right to buy)	$3.14	12/08/2025		A			100,000	(3)	01/01/2032	Ordinary Shares	100,000	$0	75,000	D
Share Option (right to buy)	$4.75	12/08/2025		A			50,000	(5)	02/17/2033	Ordinary Shares	50,000	$0	222,700	D
Share Option (right to buy)	$8.17	12/09/2025		A			36,000	(2)	03/03/2030	Ordinary Shares	36,000	$0	0	D
Share Option (right to buy)	$10.48	12/09/2025		A			50,000	(2)	02/01/2031	Ordinary Shares	50,000	$0	0	D

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 13, 2025.

2. These share options are fully vested.

3. The share option represented a right to purchase a total of 175,000 ordinary shares that vest as to 25% of the shares on January 1, 2023 and vests as to an additional 6.25% of the shares quarterly thereafter until January 1, 2026.

4. The price reflected is the weighted-average sale price for shares sold. The shares were sold in multiple transactions and the range of sale prices for the transactions reported was $15.00 to $15.045 per share. 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.

5. The share option represented a right to purchase a total of 272,200 ordinary shares that vest as to 25% of the shares on February 17, 2024 and vests as to an additional 6.25% of the shares quarterly thereafter until February 17, 2027.

6. The price reflected is the weighted-average sale price for shares sold. The shares were sold in multiple transactions and the range of sale prices for the transactions reported was $20.00 to $20.22 per share. 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.

7. Includes 1,147 ordinary shares acquired on July 14, 2025, under the issuer's 2019 Employee Share Purchase Plan.

	/s/ Kyle Moran	12/10/2025
	** 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.
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FAQ

What insider transaction did Wave Life Sciences (WVE) disclose in this Form 4?

The filing reports that Chief Financial Officer Kyle Moran exercised share options and sold ordinary shares of Wave Life Sciences Ltd. on December 8 and 9, 2025.

How many Wave Life Sciences (WVE) shares does the CFO own after these transactions?

Following the reported option exercises and sales, Kyle Moran beneficially owned 90,365 ordinary shares of Wave Life Sciences Ltd. directly.

Were the Wave Life Sciences (WVE) CFO trades made under a Rule 10b5-1 plan?

Yes. The filing states that the sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Kyle Moran on March 13, 2025.

What sale prices were reported for the Wave Life Sciences (WVE) insider transactions?

The filing reports weighted-average sale prices including $13.20 per share and ranges of $15.00 to $15.045 and $20.00 to $20.22 per share for different transaction groups.

What share options does the Wave Life Sciences (WVE) CFO hold after these Form 4 transactions?

Moran holds several share options with exercise prices of $2.83, $3.14, $4.75, $8.17, and $10.48 per share, covering ordinary shares with expiration dates between 2030 and 2033.

What does the weighted-average sale price disclosure mean in this Wave Life Sciences (WVE) Form 4?

For certain sales, the filing reports a weighted-average price because shares were sold in multiple trades within a price range and notes that detailed trade prices are available upon request.