Wave Life Sciences (WVE) officer nets 33,194-share sale after option exercises

Rhea-AI Filing Summary

Wave Life Sciences Ltd. officer Francis Chris reported option exercises and share sales in Wave Life Sciences ordinary shares. On February 26, 2026, he exercised two share options for 17,900 and 15,294 shares at exercise prices of $3.87 and $4.75 per share, respectively, receiving the corresponding ordinary shares. He then sold 17,900 shares at a weighted-average price of $15.094 per share and 15,294 shares at $15.00 per share in open-market transactions. The filing notes these transactions were carried out under a pre-established Rule 10b5‑1 trading plan, and after the reported trades he held 61,867 ordinary shares directly.

Insights

Insider trading and governance analyst

Planned option exercises paired with net share sales, overall a routine insider liquidity event.

The reporting officer of Wave Life Sciences Ltd. exercised two tranches of share options, converting them into ordinary shares, and then sold an equivalent number of shares on February 26, 2026. Exercise prices were $3.87 and $4.75 per share, while sale prices were around $15.00 per share.

The disclosure states these transactions occurred under a pre-arranged Rule 10b5‑1 trading plan adopted on August 5, 2025, indicating they were scheduled in advance rather than discretionary market timing. After these trades, the officer’s direct holdings stood at 61,867 ordinary shares, so he retains meaningful exposure.

The filing also describes vesting schedules for the options running through February 2027 and February 2028, implying additional potential exercises over time. Future company filings may detail any further option vesting and related transactions, which together will shape the long‑term evolution of this insider’s ownership stake.

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
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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^*

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)
02/26/2026

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	02/26/2026		M(1)		17,900	A	$3.87	79,767	D
Ordinary Shares	02/26/2026		S(1)		17,900	D	$15.094(4)	61,867	D
Ordinary Shares	02/26/2026		M(1)		15,294	A	$4.75	77,161	D
Ordinary Shares	02/26/2026		S(1)		15,294	D	$15	61,867	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
Share Option (right to buy)	$3.87	02/26/2026		M			17,900	(2)	02/05/2034	Ordinary Shares	17,900	$0.00	143,200	D
Share Option (right to buy)	$4.75	02/26/2026		M			15,294	(3)	02/17/2033	Ordinary Shares	15,294	$0.00	61,175	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 option vests 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.

3. The option vests 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.

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 $15.10 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.

Remarks:

SVP, Corporate Development, Head of Emerging Areas

	/s/ Chris Francis	02/27/2026
	** 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 insider transactions did Francis Chris report at Wave Life Sciences (WVE)?

Francis Chris reported exercising two share options and selling the resulting shares. He converted 17,900 and 15,294 options into ordinary shares, then sold those shares in open-market transactions on February 26, 2026, as disclosed in the Form 4 filing.

How many Wave Life Sciences (WVE) shares did the insider sell in this Form 4?

The insider sold a total of 33,194 Wave Life Sciences ordinary shares. This consisted of 17,900 shares sold at a weighted-average price of $15.094 and 15,294 shares sold at $15.00 per share in open-market or private transactions.

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

Yes. The Form 4 states that the option exercises and related sales were executed under a Rule 10b5‑1 trading plan. The reporting person adopted this plan on August 5, 2025, meaning the trades were pre-scheduled rather than opportunistic discretionary transactions.

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

The insider exercised share options at prices of $3.87 and $4.75 per share. These exercises converted options into ordinary shares, which were then sold at market prices around $15 per share, reflecting a significant spread between exercise and sale prices.

How many Wave Life Sciences (WVE) shares does Francis Chris hold after these transactions?

After the reported option exercises and share sales, Francis Chris directly holds 61,867 Wave Life Sciences ordinary shares. This remaining stake indicates continued equity exposure to the company following the net sale of 33,194 shares in the disclosed transactions.

What vesting schedule applies to the Wave Life Sciences (WVE) options exercised in this filing?

The filing explains that one option vests 25% on February 5, 2025, with 6.25% quarterly vesting through February 5, 2028. Another vests 25% on February 17, 2024, with 6.25% quarterly vesting through February 17, 2027, defining future potential exercisable amounts.