Form 4: Annexon Director Boosts Stake with $3.6M Stock Purchases

Annexon Director Muneer A. Satter acquired over 822,000 shares of common stock across two transactions in November 2025, increasing his indirect beneficial ownership to 9.7 million shares.

Summary

• Muneer A. Satter, a Director and 10% Owner of Annexon, Inc. (ANNX), reported two significant purchases of common stock.
• On November 20, 2025, 400,000 shares were acquired at a weighted average price of $4.48 per share, totaling approximately $1,792,000.
• On November 21, 2025, an additional 422,613 shares were acquired at a weighted average price of $4.28 per share, totaling approximately $1,808,982.
• The total shares acquired across both transactions amount to 822,613 shares, with a combined value of approximately $3,600,982.
• Following these transactions, Muneer A. Satter's indirect beneficial ownership in Annexon, Inc. increased to 9,728,637 shares.
• The shares are held indirectly through various entities including Alerce Medical Technology Partners, L.P., Muneer A. Satter Revocable Trust, Satter Medical Technology Partners, L.P., and other trusts and entities.
• The transactions were executed pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading plan.

Sentiment

Score: 8

Explanation: The significant insider buying by a director and 10% owner, Muneer A. Satter, indicates strong confidence in the company's valuation and future prospects, which is generally a positive signal for investors.

Positives

• Significant insider buying by a Director and 10% Owner signals strong confidence in the company's future prospects and valuation.
• The substantial investment of over $3.6 million by Muneer A. Satter demonstrates a material commitment to Annexon, Inc.'s success.
• The transactions were made under a Rule 10b5-1(c) plan, which indicates a pre-planned acquisition strategy and adherence to regulatory best practices.

Corporate Governance

Related Party Transactions

• Muneer A. Satter, a Director and 10% Owner of Annexon, Inc., acquired common stock through entities over which he has sole voting and dispositive power. This constitutes a related party transaction due to his position within the company.

Stakeholder Impact

• Shareholders may view this significant insider buying as a positive indicator of management's confidence in the company's future performance and stock value.
• The market may interpret this as a bullish signal, potentially influencing investor sentiment and stock price.

Key Dates

Recommendation

The substantial purchases by a director and 10% owner, Muneer A. Satter, signal strong insider confidence in Annexon, Inc.'s valuation and future prospects. This significant investment, totaling over $3.6 million, suggests a belief that the stock is currently undervalued or poised for growth, making it an attractive entry point for investors.

Keywords

Annexon, ANNX, Muneer Satter, insider buying, Form 4, director purchase, stock acquisition, beneficial ownership, Rule 10b5-1