Wave Life Sciences (NASDAQ: WVE) SVP reports option exercises and share sales

Rhea-AI Filing Summary

Wave Life Sciences Ltd. executive reports option exercises and share sales. On December 8, 2025, a senior officer of Wave Life Sciences exercised multiple vested share options with exercise prices ranging from $2.83 to $10.48 per ordinary share and sold the resulting shares on the same day. These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on August 5, 2025.

Following the reported option exercises and sales, the officer directly holds 25,000 ordinary shares. The filing notes that certain sale prices are reported on a weighted-average basis, including averages of $14.556 and $14.195 per share, and the officer has agreed to provide full pricing details upon request.

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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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^*

Francis Chris

(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)
	See Remarks

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)		28,125	A	$3.14	53,125	D
Ordinary Shares	12/08/2025		S(1)		28,125	D	$14.5	25,000	D
Ordinary Shares	12/08/2025		M(1)		107,400	A	$3.87	132,400	D
Ordinary Shares	12/08/2025		S(1)		107,400	D	$14.556(4)	25,000	D
Ordinary Shares	12/08/2025		M(1)		45,882	A	$4.75	70,882	D
Ordinary Shares	12/08/2025		S(1)		45,882	D	$14.5	25,000	D
Ordinary Shares	12/08/2025		M(1)		9,375	A	$3.14	34,375	D
Ordinary Shares	12/08/2025		S(1)		9,375	D	$15	25,000	D
Ordinary Shares	12/08/2025		M(1)		37,500	A	$3.14	62,500	D
Ordinary Shares	12/08/2025		S(1)		37,500	D	$14.08	25,000	D
Ordinary Shares	12/08/2025		M(1)		17,900	A	$3.87	42,900	D
Ordinary Shares	12/08/2025		S(1)		17,900	D	$15	25,000	D
Ordinary Shares	12/08/2025		M(1)		122,349	A	$4.75	147,349	D
Ordinary Shares	12/08/2025		S(1)		122,349	D	$14.195(6)	25,000	D
Ordinary Shares	12/08/2025		M(1)		50,000	A	$10.48	75,000	D
Ordinary Shares	12/08/2025		S(1)		50,000	D	$16	25,000	D
Ordinary Shares	12/08/2025		M(1)		22,500	A	$2.83	47,500	D
Ordinary Shares	12/08/2025		S(1)		22,500	D	$14.08	25,000	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)	$3.14	12/08/2025		M			75,000	(2)	01/01/2032	Ordinary Shares	75,000	$0.00	9,375	D
Share Option (right to buy)	$3.87	12/08/2025		M			125,300	(3)	02/05/2034	Ordinary Shares	125,300	$0.00	161,100	D
Share Option (right to buy)	$4.75	12/08/2025		M			168,231	(5)	02/17/2033	Ordinary Shares	168,231	$0.00	76,469	D
Share Option (right to buy)	$10.48	12/08/2025		M			50,000	(7)	02/01/2031	Ordinary Shares	50,000	$0.00	0	D
Share Option (right to buy)	$2.83	12/08/2025		M			22,500	(2)	07/25/2023	Ordinary Shares	22,500	$0.00	0	D

Explanation of Responses:

1. The option exercise and sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 5, 2025.

2. The share option represented a right to purchase a total of 150,000 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.

3. The share option represented a right to purchase a total of 286,400 ordinary shares that vest as to 25% of the shares on February 5, 2025, and vests as to an additional 6.25% of the shares quarterly thereafter until February 5, 2028.

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 $14.50 to $14.78 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 244,700 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 $14.08 to $15.00 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. These share options are fully vested.

Remarks:

SVP, Corporate Development, Head of Emerging Areas

	/s/ Chris Francis	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).
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FAQ

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

The filing shows a senior officer of Wave Life Sciences Ltd. (WVE) exercised multiple vested share options and sold the resulting ordinary shares on December 8, 2025, while retaining 25,000 ordinary shares directly.

Which Wave Life Sciences executive is involved and what is their role?

The reporting person is an officer of Wave Life Sciences serving as SVP, Corporate Development, Head of Emerging Areas, and is identified as an officer of the issuer in the filing.

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

Yes. The filing states that the option exercises and related sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 5, 2025.

What option exercise prices are disclosed for the Wave Life Sciences (WVE) insider?

The officer exercised share options with exercise prices of $2.83, $3.14, $3.87, $4.75, and $10.48 per ordinary share, as detailed in the derivative securities table.

At what prices were Wave Life Sciences (WVE) shares sold in these transactions?

The filing reports several sale prices, including weighted-average sale prices of $14.556 and $14.195 per share, with individual sale prices in the mid-teens per ordinary share.

Does the Wave Life Sciences (WVE) insider still hold options after these transactions?

Yes. The derivative securities table shows that the officer continues to hold share options that remain beneficially owned after the reported exercises and sales, in addition to directly held shares.

How many Wave Life Sciences (WVE) ordinary shares does the insider own after the reported trades?

After the option exercises and share sales reported for December 8, 2025, the officer directly owns 25,000 ordinary shares of Wave Life Sciences Ltd.