Form 4: Alnylam CEO Reports PSU Vesting and Tax-Related Stock Sales

Alnylam Pharmaceuticals CEO Yvonne Greenstreet reported the vesting of performance-based stock units and subsequent sale of shares to cover tax obligations.

Summary

• CEO Yvonne Greenstreet acquired 19,003 shares of ALNY common stock on January 11, 2026, due to the vesting of performance-based stock units (PSUs).
• The PSU vesting was based on Alnylam publicly reporting $2.5 billion in annual net product revenue in accordance with GAAP, as determined by the People, Culture and Compensation Committee.
• Subsequently, 9,001 shares were automatically sold on January 12, 2026, to cover minimum statutory tax withholding obligations at weighted average prices ranging from $353.95 to $377.82.
• Following these transactions, Yvonne Greenstreet directly beneficially owns 78,411 shares and indirectly owns 407 shares through a managed account.

Sentiment

Score: 7

Explanation: The vesting of performance-based stock units indicates strong company performance in achieving its revenue target, which is a positive operational signal. The subsequent sale of shares is a routine tax-related transaction and not indicative of negative sentiment regarding the company's future.

Positives

• The vesting of 19,003 performance-based stock units (PSUs) indicates the achievement of a key performance measure: $2.5 billion in annual net product revenue.

Negatives

• A total of 9,001 shares were sold to cover tax withholding obligations, resulting in a reduction of the direct beneficial ownership by the CEO.

Future Outlook

NA

Management Comments

• The shares reported were issued to the reporting person upon vesting of forty (40) percent of the shares subject to the PSU based on the issuer publicly reporting $2.5 billion in annual net product revenue in accordance with GAAP, as determined by the People, Culture and Compensation Committee of the Issuer Board of Directors on January 11, 2026.
• The shares sold represent shares automatically sold by the Company on behalf of the reporting person pursuant to a mandatory sell-to-cover provision in the award agreement to cover minimum statutory tax withholding obligations.

Industry Context

NA

Stakeholder Impact

• Shareholders: The achievement of a $2.5 billion annual net product revenue target, which triggered PSU vesting, provides a positive signal regarding the company's operational performance. The tax-related share sales are routine and do not typically impact shareholder sentiment significantly.
• Employees: This filing demonstrates the company's executive compensation structure, which ties a portion of executive pay to specific performance metrics, potentially reinforcing a performance-driven culture.

Key Dates

Recommendation

This Form 4 primarily reports routine insider transactions related to executive compensation. The vesting of performance-based stock units indicates the company achieved a significant revenue target ($2.5 billion), which is a positive operational signal. However, the subsequent sale of shares is for tax purposes and does not reflect a change in management's long-term view. Without broader financial context, a 'hold' recommendation is appropriate, acknowledging the positive performance indicator while recognizing the routine nature of the transaction.

Keywords

ALNY, Alnylam Pharmaceuticals, Yvonne Greenstreet, Form 4, insider trading, stock transactions, CEO, performance-based stock units, PSU, stock vesting, tax withholding