Wave Life Director Executes Tax-Related Share Sale at $8.75

Rhea-AI Filing Summary

What happened: Wave Life Sciences director Ken Takanashi sold 4,872 ordinary shares on August 5, 2025 to cover taxes from restricted share units that vested.

Why it matters: The sale was executed under a pre-established 10b5-1 trading plan, indicating it was planned in advance rather than a discretionary decision. After the transaction he still directly beneficially owns 5,716,303 shares, so this was a small, routine tax-withholding sale rather than a material exit.

Positive

• Sale executed under a 10b5-1 trading plan, indicating it was pre-planned and not an opportunistic trade
• Reporting person retains a large direct stake of 5,716,303 shares after the transaction

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine tax-related sale by a director under a 10b5-1 plan; not a sign of governance concerns.

This Form 4 reports a small, pre-planned sale to satisfy tax withholding on vested RSUs. Because the transaction was made pursuant to a 10b5-1 plan, it reduces the likelihood the sale signals new inside information or a change in intent. The director remains a large shareholder with over 5.7 million shares, which suggests continued alignment with shareholders. No governance red flags are evident from this filing alone.

Securities Analyst

TL;DR: Small, non-material insider sale executed at about $8.75 per share to cover taxes; negligible market impact.

The disposition of 4,872 shares at a reported price of $8.75 represents a modest cash-covering transaction tied to RSU vesting. Relative to the director's remaining stake of 5,716,303 shares, the sale is immaterial and unlikely to affect valuation or signal a change in company outlook. Investors should view this as routine insider liquidity rather than a material selling event.

Insider Trade Summary

Net Seller: 4,872 shares

Net Sell 1 txn

Insider TAKANASHI KEN

Role Director

Sold 4,872 shs ($43K)

Type	Security	Shares	Price	Value
Sale	Ordinary Shares	4,872	$8.75	$43K

Holdings After Transaction: Ordinary Shares — 5,716,303 shares (Direct)

Footnotes (1)

1. F1. On August 5, 2025, the reporting person sold 4,872 ordinary shares solely to cover taxes associated with the vesting of restricted share units on August 5, 2025. These sales were made pursuant to a 10b5-1 Trading Plan.

FAQ

Who sold shares in the Wave Life (WVE) Form 4?

Ken Takanashi, a director of Wave Life Sciences, is the reporting person who sold shares.

How many shares did the director sell and when?

The director sold 4,872 ordinary shares on August 5, 2025.

Why were the shares sold?

The sale was to cover taxes associated with the vesting of restricted share units (RSUs).

Was the sale discretionary or pre-planned?

The sale was executed pursuant to a 10b5-1 trading plan, indicating it was pre-planned.

At what price were the shares sold and how many shares remain owned?

The reported price was $8.75 per share, and the reporting person directly beneficially owns 5,716,303 shares following the transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 08/07/2025 - 08:00 PM Learn about SEC filing dates

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^*

TAKANASHI KEN

(Last) (First) (Middle)

C/O SHIN NIPPON BIOMEDICAL LABORATORIES,

2438 MIYANOURA-MACHI, KAGOSHIMA CITY

(Street)

KAGOSHIMA M0 891-1394

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025

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	08/05/2025		S		4,872(1)	D	$8.75	5,716,303	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

Explanation of Responses:

1. On August 5, 2025, the reporting person sold 4,872 ordinary shares solely to cover taxes associated with the vesting of restricted share units on August 5, 2025. These sales were made pursuant to a 10b5-1 Trading Plan.

	/s/ Ken Takanashi	08/07/2025
	** 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.