Form 4: Adaptimmune Director Sells All Indirect Holdings

Adaptimmune Therapeutics PLC Director Ali Behbahani, through affiliated entities, has fully divested his indirect beneficial ownership of the company's ordinary shares.

Summary

• Director Ali Behbahani reported the sale of Adaptimmune Therapeutics PLC ordinary shares.
• The sales occurred on August 15, 2025, and August 18, 2025.
• On August 15, 2025, 4,828,206 ordinary shares were sold at a weighted average price of $0.011 per share, with prices ranging from $0.0099 to $0.0118.
• On August 18, 2025, 14,671,794 ordinary shares were sold at a weighted average price of $0.012 per share, with prices ranging from $0.0114 to $0.0130.
• These shares were held indirectly through New Enterprise Associates 16, L.P. (NEA 16), where the reporting person is a manager of the general partner.
• Each American Depositary Share (ADS) represents six Ordinary Shares of Adaptimmune Therapeutics plc.
• Following these transactions, the reporting person's indirect beneficial ownership of Adaptimmune ordinary shares is now zero.

Sentiment

Score: 2

Explanation: The complete divestment of indirect beneficial ownership by a director and 10% owner typically signals a lack of confidence or a strategic exit, which is generally viewed negatively by the market.

Negatives

• Director Ali Behbahani, who is also identified as a 10% owner, has divested all indirect beneficial ownership in Adaptimmune Therapeutics PLC.
• The sale of a total of 19,500,000 shares (4,828,206 + 14,671,794) by a significant insider could be interpreted negatively by the market, potentially signaling a lack of confidence.

Risks

• The complete divestment of indirect beneficial ownership by a director and 10% owner may signal a perceived increase in risk or a lack of future confidence in the company by a key insider.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Sales of ordinary shares were conducted by New Enterprise Associates 16, L.P. (NEA 16), an entity where the reporting person, Ali Behbahani, is a manager of NEA 16 GP, LLC, which is the sole general partner of NEA Partners 16, L.P., the sole general partner of NEA 16.

Stakeholder Impact

• Shareholders: Potential negative sentiment and downward pressure on share price due to significant insider selling by a director and 10% owner.

Key Dates

Recommendation

The complete divestment of indirect beneficial ownership by a director and 10% owner, Ali Behbahani, suggests a significant lack of confidence or a strategic exit from the investment. This action by a major insider typically signals a negative outlook for the company's future prospects, warranting a cautious or negative stance on the stock.

Keywords

Adaptimmune Therapeutics, ADAP, SEC Form 4, Insider Trading, Share Sale, Director, 10% Owner, Beneficial Ownership, NEA 16