4/A: Adverum Biotechnologies Insider Leonard Braden Michael Amends Filing to Correct Transaction Details
SEC Filing
Leonard Braden Michael, a director and 10% owner of Adverum Biotechnologies, amended a previous filing to correct a clerical error regarding a transaction on March 27, 2025, and to clarify the form type.
Summary
- This is an amendment to a Form 4 filing by Leonard Braden Michael, a director and 10% owner of Adverum Biotechnologies, Inc.
- The amendment corrects a clerical error in the original filing regarding a transaction on March 27, 2025, changing the transaction type from a disposal to an acquisition.
- The amendment also clarifies that the filing is a Form 4/A (amendment) instead of a Form 4.
- On March 26, 2025, Michael acquired 20,407 shares of common stock at a weighted average price of $5.0395 per share, bringing his direct holdings to 125,207 shares.
- On March 27, 2025, Michael acquired 16,593 shares of common stock at a weighted average price of $5.1883 per share, increasing his direct holdings to 141,800 shares.
- Michael also indirectly owns 2,722,761 shares through BML Investment Partners, L.P., where BML Capital Management, LLC serves as the general partner and Michael is the managing member.
- Michael disclaims beneficial ownership of these indirectly held shares except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Positives
- The reporting person increased their direct holdings of Adverum Biotechnologies stock.
Management Comments
- Mr. Leonard disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
Industry Context
Form 4 filings are a routine part of the US stock market and are required by the SEC to ensure transparency of trading by corporate insiders.
Stakeholder Impact
- Shareholders are informed about insider trading activity.
Key Dates
| Date | Description |
|---|---|
| 03/26/2025 | Reporting person acquired 20,407 shares of common stock at a weighted average price of $5.0395 per share. |
| 03/27/2025 | Reporting person acquired 16,593 shares of common stock at a weighted average price of $5.1883 per share; clerical error corrected via amendment. |
| 04/28/2025 | Date of the amended filing (Form 4/A). |
Keywords
Adverum Biotechnologies, Insider Trading, Form 4, Amendment, Beneficial Ownership, Leonard Braden Michael, Stock Acquisition
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