Erin Lavelle awarded 26,978 Avalyn Pharma (AVLN) stock options at $18

Rhea-AI Filing Summary

Avalyn Pharma director Erin Lavelle received a grant of stock options covering 26,978 shares of common stock at an exercise price of $18.00 per share. Twenty-five percent vest on September 12, 2025, with the remaining 75% vesting in 36 equal monthly installments, subject to continued service.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Lavelle Erin

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	26,978	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 26,978 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Option grant size: 26,978 shares Exercise price: $18.00 per share Post-grant derivative holdings: 26,978 options +3 more

6 metrics

Option grant size 26,978 shares Stock Option (Right to Buy) grant to Erin Lavelle

Exercise price $18.00 per share Exercise price for granted stock options

Post-grant derivative holdings 26,978 options Total derivative securities following transaction

Initial vesting tranche 25% of 26,978 shares Vest and become exercisable on September 12, 2025

Remaining vesting schedule 75% over 36 months Equal monthly installments after initial vest date

Option expiration date April 28, 2036 Expiration date of stock option grant

Key Terms

Stock Option (Right to Buy), exercise price, vesting, expiration date

4 terms

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy)"

exercise price financial

"conversion_or_exercise_price: 18.0000"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vesting financial

"25% of the shares underlying this option vest and become exercisable"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

expiration date financial

"expiration_date: 2036-04-28T00:00:00.000Z"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

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).

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^*

Lavelle Erin

(Last) (First) (Middle)

C/O AVALYN PHARMA INC.

105 W FIRST STREET

(Street)

BOSTON MASSACHUSETTS 02127

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Avalyn Pharma Inc. [ AVLN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/29/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

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
Stock Option (Right to Buy)	$18	04/30/2026		A		26,978		(1)	04/28/2036	Common Stock	26,978	$0.00	26,978	D

Explanation of Responses:

1. 25% of the shares underlying this option vest and become exercisable on September 12, 2025, with the remaining 75% vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date.

	/s/ Douglas Carlson	05/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Erin Lavelle report for AVLN?

Erin Lavelle reported receiving a grant of stock options for 26,978 shares of Avalyn Pharma common stock. These options are part of compensation, not an open-market share purchase or sale, and give the right to buy shares at a fixed exercise price.

How many Avalyn Pharma (AVLN) shares are covered by Erin Lavelle’s options?

The reported stock option grant covers 26,978 shares of Avalyn Pharma common stock. These shares are not owned outright yet; they become exercisable over time as the options vest, assuming Lavelle continues to provide service to the company.

What is the exercise price of Erin Lavelle’s Avalyn Pharma stock options?

The stock options granted to Erin Lavelle have an exercise price of $18.00 per share. This price is the fixed amount she must pay per share to convert the options into common stock once the options have vested and become exercisable.

How do Erin Lavelle’s AVLN stock options vest over time?

The options vest in stages: 25% of the shares vest on September 12, 2025, while the remaining 75% vest in thirty-six equal monthly installments. Vesting is conditioned on Lavelle’s continued service on each applicable vesting date.

When do Erin Lavelle’s Avalyn Pharma stock options expire?

The reported stock options have an expiration date of April 28, 2036. After this date, any unexercised portion of the option can no longer be used to purchase common shares, even if it had previously vested and become exercisable.

Is Erin Lavelle’s Form 4 transaction a market buy or sell of AVLN shares?

No, this Form 4 reflects a grant of stock options, not a market buy or sell of existing Avalyn Pharma shares. It represents an award of rights to purchase shares in the future at a set price, subject to the vesting schedule.