[Form 4] Wave Life Sciences Ltd. Insider Trading Activity

Rhea-AI Filing Summary

Ken Takanashi, a director of Wave Life Sciences Ltd. (WVE), received equity awards under the company’s 2025 Non-Employee Director Compensation Policy. On 08/11/2025 he was granted 12,700 restricted share units (RSUs) that vest 100% on the earlier of the 2026 annual general meeting or August 11, 2026, and options to purchase 76,200 ordinary shares with an exercise price of $8.105 that vest on the same schedule and list an expiration date of 08/11/2030. The form reports these grants as compensation at a $0.00 price and shows 5,729,003 ordinary shares and 76,200 derivative securities beneficially owned following the transactions.

Positive

• Alignment with shareholders: RSUs and options link director compensation to company equity performance.
• Transparent disclosure: Filing specifies grant amounts, vesting schedule, exercise price ($8.105), and post-grant beneficial ownership.

Negative

• Potential dilution: Exercise of 76,200 options would increase outstanding shares if exercised.
• Concentrated holdings noted: The filing shows 5,729,003 ordinary shares beneficially owned by the reporting person, but no ownership percentage is provided.

Insights

Securities Analyst

TL;DR: Routine director compensation grants; notable for size of option award and reported beneficial ownership, but appears compensatory rather than extraordinary.

The filing documents standard equity compensation under the 2025 Non-Employee Director Compensation Policy. The director received 12,700 RSUs and 76,200 share options at an exercise price of $8.105; both awards vest by the earlier of the 2026 annual general meeting or August 11, 2026. These awards are recorded at $0.00 price on grant, consistent with typical restricted equity and option grants. The report also discloses total beneficial ownership of 5,729,003 ordinary shares and 76,200 derivative securities following the grants, which is a factual disclosure of holdings rather than a direct market signal.

Corporate Governance Expert

TL;DR: Grants align director incentives with shareholders; vesting schedule is short-term and customary for non-employee directors.

The awards—RSUs and stock options—are compensatory tools commonly used to align non-employee directors with shareholder outcomes. Vesting tied to the next annual general meeting or a specific date means the awards convert to equity within roughly one year, creating near-term alignment. The option exercise price is explicit at $8.105 and the derivative line lists an expiration date of 08/11/2030. From a governance perspective, these disclosures are transparent about the award type, vesting, and post-grant beneficial ownership; they do not indicate departures from routine director compensation practices.

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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)
08/11/2025

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	08/11/2025		A		12,700(1)	A	$0.00	5,729,003	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)	$8.105	08/11/2025		A		76,200		(2)	08/11/2030	Ordinary Shares	76,200	$0.00	76,200	D

Explanation of Responses:

1. The reporting person was granted this restricted share unit award (RSU) pursuant to the 2025 Non-Employee Director Compensation Policy. The RSU vests as to 100% of the shares on the earlier of the Company's 2026 annual general meeting or August 11, 2026.

2. The reporting person was granted this option pursuant to the 2025 Non-Employee Director Compensation Policy. The option vests as to 100% of the shares on the earlier of the Company's 2026 annual general meeting or August 11, 2026.

	/s/ Ken Takanashi	08/13/2025
	** 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 Wave Life (WVE) director Ken Takanashi receive in this Form 4?

The filing shows 12,700 RSUs and options to purchase 76,200 ordinary shares granted under the 2025 Non-Employee Director Compensation Policy.

When do the RSUs and options vest for Ken Takanashi?

Both the RSUs and the options vest 100% on the earlier of the company's 2026 annual general meeting or August 11, 2026.

What is the exercise price and expiration for the options reported on the Form 4?

The options have an exercise price of $8.105 and the derivative table lists an expiration date of 08/11/2030.

How many shares does Ken Takanashi beneficially own after these transactions?

The Form 4 reports 5,729,003 ordinary shares and 76,200 derivative securities beneficially owned following the reported transactions.

Was any cash exchanged for these awards according to the Form 4?

The grants are reported with a price of $0.00, indicating they were awarded as compensation rather than purchased for cash.