Form 4: Alnylam EVP R&D Reports Routine Equity Transactions

Alnylam Pharmaceuticals' EVP Chief R&D, Pushkal Garg, reported the acquisition of new equity awards and sales of common stock, including tax-related sell-to-cover transactions and sales under a pre-arranged 10b5-1 plan.

Summary

• Pushkal Garg, EVP Chief R&D of Alnylam Pharmaceuticals, Inc. (ALNY), acquired 4,769 restricted stock units (RSUs) on March 2, 2026, which will vest over a three-year period.
• Garg also acquired 10,480 stock options on March 2, 2026, with an exercise price of $325.07, vesting over a four-year period.
• A total of 1,717 shares of common stock were sold on March 2, 2026, at weighted average prices ranging from $323.62 to $332.64, to cover minimum statutory tax withholding obligations related to equity awards.
• An additional 1,775 shares of common stock were sold on March 3, 2026, at weighted average prices ranging from $316.74 to $321.50, pursuant to a Rule 10b5-1(c) trading plan adopted on November 20, 2025.
• Following these transactions, Garg directly beneficially owns 23,406 shares of common stock and 10,480 stock options.
• Indirect beneficial ownership includes 431 shares through a managed 401(k) account and 250 shares held in a trust, for which beneficial ownership is disclaimed.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing. While there are sales, they are routine (tax-related and 10b5-1 plan), and the executive received new equity grants, indicating continued alignment with company performance and retention.

Positives

• The grant of 4,769 restricted stock units (RSUs) and 10,480 stock options aligns management's interests with shareholders through long-term equity incentives.
• The new equity awards represent ongoing compensation and retention of a key executive.

Negatives

• The sale of 3,492 shares of common stock reduces the executive's direct holdings, although a significant portion was for tax obligations and the remainder was pre-scheduled.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions, providing transparency into executive equity movements. The combination of new equity grants and pre-scheduled sales is a common pattern in the biotechnology and pharmaceutical sectors, reflecting executive compensation structures and personal financial planning.

Stakeholder Impact

• Shareholders: The new equity grants align the executive's long-term interests with shareholder value creation. The sales are routine and do not signal a change in fundamental outlook.
• Employees: The equity grants are part of standard executive compensation, potentially signaling stability in leadership.

Next Steps

• The granted Restricted Stock Units (RSUs) will vest over a three-year period, with one-third vesting on each of the first, second, and third anniversaries of the grant date (March 2, 2026).
• The granted Stock Options will vest as to 25% of the shares on the first anniversary of the grant date (March 2, 2026), with the remaining shares vesting in equal installments at the end of each successive three-month period thereafter until the fourth anniversary of the grant date.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions, including new equity compensation grants and pre-scheduled sales for tax purposes and under a 10b5-1 plan. These transactions do not provide new fundamental information about Alnylam Pharmaceuticals' operational performance or strategic direction that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate, maintaining existing positions based on broader company fundamentals rather than these specific insider movements.

Keywords

Alnylam Pharmaceuticals, ALNY, Form 4, Insider Transaction, Restricted Stock Units, RSU, Stock Options, Equity Compensation, 10b5-1 Plan, Sell-to-Cover, Biotechnology, Pharmaceuticals