Were the Avalo Therapeutics (AVTX) CFO’s share sales made under a Rule 10b5-1 plan?

Yes, the transactions were effected under a Rule 10b5-1 trading plan. The Form 4 notes the plan was adopted by Christopher Ryan Sullivan on November 12, 2025, indicating the sales were pre-scheduled rather than discretionary market-timing decisions.

Avalo Therapeutics (AVTX) CFO 10b5-1 sale after option exercise

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Avalo Therapeutics Chief Financial Officer Christopher Ryan Sullivan reported an option exercise and related share sale. On May 7, 2026, he exercised stock options to acquire 18,606 shares of common stock at $9.88 per share and then sold 18,606 shares in an open-market transaction at an average price of $24.1222 per share.

The sale occurred under a pre-arranged Rule 10b5-1 trading plan adopted on November 12, 2025, with sale prices ranging from $24.05 to $24.23. Following these transactions, he directly holds 423 shares of common stock and 168,094 stock options with a $9.88 exercise price expiring on August 13, 2034.

Insider Trade Summary 10b5-1

Net Seller: 18,606 shares ($448,818)

Net Sell 3 txns

Insider Sullivan Christopher Ryan

Role Chief Financial Officer

Sold 18,606 shs ($449K)

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	18,606	$0.00	--
Exercise	Common Stock	18,606	$9.88	$184K
Sale	Common Stock	18,606	$24.1222	$449K

Holdings After Transaction: Stock Option (Right to Buy) — 168,094 shares (Direct, null); Common Stock — 19,029 shares (Direct, null)

Footnotes (1)

The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 12, 2025. The reported securities were sold in multiple transactions at prices ranging from $24.05 to $24.23. 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 within such range. The stock option vests 25% on March 28, 2025, and 1/36 monthly thereafter, subject to the Reporting Person's continued service on such vesting date.

Key Figures

Shares sold: 18,606 shares Average sale price: $24.1222 per share Sale price range: $24.05–$24.23 per share +5 more

8 metrics

Shares sold 18,606 shares Common stock sold on May 7, 2026

Average sale price $24.1222 per share Open-market sale of common stock

Sale price range $24.05–$24.23 per share Multiple transactions within reported range

Option exercise size 18,606 shares Shares acquired via option exercise

Option exercise price $9.88 per share Stock Option (Right to Buy) strike price

Common shares held after 423 shares Direct common stock holdings post-transaction

Options remaining after 168,094 options Stock options outstanding after exercise

Option expiration August 13, 2034 Expiration date of the Stock Option (Right to Buy)

Key Terms

Rule 10b5-1 trading plan, Stock Option (Right to Buy), open-market sale, exercise or conversion of derivative security, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Stock Option (Right to Buy) financial

"security_title: "Stock Option (Right to Buy)" with an exercise price of $9.88"

open-market sale financial

"transaction_action: "open-market sale" for 18,606 shares of common stock"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security" for the option transaction"

vesting financial

"The stock option vests 25% on March 28, 2025, and 1/36 monthly thereafter"

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.

Form 4 Insider Transactions: What Each Field Means →

05/11/2026 - 04:05 PM

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^*

Sullivan Christopher Ryan

(Last)

(First)

(Middle)

C/O AVALO THERAPEUTICS, INC.

1500 LIBERTY RIDGE DRIVE, SUITE 321

(Street)

WAYNE

PENNSYLVANIA

19087

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Avalo Therapeutics, Inc. [ AVTX ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/07/2026		M⁽¹⁾		18,606	A	$9.88	19,029	D
Common Stock	05/07/2026		S⁽¹⁾		18,606	D	$24.1222⁽²⁾	423	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$9.88	05/07/2026		M⁽¹⁾			18,606	⁽³⁾	08/13/2034	Common Stock	18,606	$0	168,094	D

Explanation of Responses:

1. The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 12, 2025.

2. The reported securities were sold in multiple transactions at prices ranging from $24.05 to $24.23. 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 within such range.

3. The stock option vests 25% on March 28, 2025, and 1/36 monthly thereafter, subject to the Reporting Person's continued service on such vesting date.

	/s/ Christopher Sullivan	05/11/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Avalo Therapeutics (AVTX) CFO Christopher Ryan Sullivan report in this Form 4?

He reported an option exercise and related share sale. On May 7, 2026, he exercised options for 18,606 shares at $9.88 and sold 18,606 common shares in the open market at an average price of $24.1222 per share.

How many Avalo Therapeutics (AVTX) shares did the CFO sell and at what prices?

He sold 18,606 shares of common stock in an open-market transaction. The average sale price was $24.1222 per share, with individual trades executed in a price range from $24.05 to $24.23 according to the Form 4 disclosure.

What options did the Avalo Therapeutics (AVTX) CFO exercise in this filing?

He exercised a stock option for 18,606 shares of common stock at a $9.88 exercise price. The option is described as a Stock Option (Right to Buy) and is scheduled to expire on August 13, 2034, subject to its vesting conditions.

What are the Avalo Therapeutics (AVTX) CFO’s holdings after these transactions?

After the reported transactions, he directly holds 423 shares of Avalo Therapeutics common stock. He also holds 168,094 stock options with a $9.88 exercise price that remain outstanding and are scheduled to expire on August 13, 2034, under the terms disclosed.

How do the Avalo Therapeutics (AVTX) CFO’s stock options vest according to the Form 4?

The Form 4 explains that the stock option vests 25% on March 28, 2025, and then 1/36 monthly thereafter. Vesting continues as long as Christopher Ryan Sullivan maintains his service with the company on each respective vesting date.