Form 4: Adverum Biotechnologies Executive Sells Shares to Cover Tax Obligations

Setareh Seyedkazemi, Chief Development Officer of Adverum Biotechnologies, sold 924 shares of common stock to satisfy tax obligations related to vesting performance stock units.

Summary

• On May 15, 2025, Setareh Seyedkazemi, the Chief Development Officer of Adverum Biotechnologies, sold 924 shares of the company's common stock.
• The sale was executed to cover tax obligations arising from the vesting and settlement of performance stock units.
• The shares were sold at prices ranging from $1.98 to $2.01, with a weighted-average sale price of $2.
• Following the transaction, Seyedkazemi directly owns 13,768 shares of Adverum Biotechnologies.
• The sales were made pursuant to satisfying tax obligations of the reporting person incurred with the vesting and settlement of certain performance stock units.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine sale to cover tax obligations and doesn't necessarily reflect a change in the executive's confidence in the company.

Industry Context

Insider sales are a common occurrence, especially to cover tax obligations related to equity compensation. The impact on the stock price is usually minimal unless the sale is substantial or part of a larger trend.

Key Dates

Keywords

Adverum Biotechnologies, ADVM, Form 4, Seyedkazemi, insider trading, stock sale, tax obligations, performance stock units, chief development officer