Joshua T. Brumm - Jul 5, 2022 Form 4 Insider Report for Dyne Therapeutics, Inc. (DYN)

Role
Chief Executive Officer and President, Director
Signature
/s/ Richard Scalzo, Attorney-in-Fact
Stock symbol
DYN
Transactions as of
Jul 5, 2022
Transactions value $
-$90,335
Form type
4
Date filed
7/6/2022, 06:18 PM
Previous filing
Jun 15, 2022
Next filing
Sep 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DYN Common Stock Award $0 +24.1K +11.66% $0.00 231K Jul 5, 2022 Direct F1, F2
transaction DYN Common Stock Disposed to Issuer -$90.3K -11K -4.75% $8.24 220K Jul 6, 2022 Direct F2, F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DYN Stock Option (right to buy) Award $0 +154K $0.00 154K Jul 5, 2022 Common Stock 154K $5.54 Direct F5
transaction DYN Stock Option (right to buy) Award $0 +78.4K $0.00 78.4K Jul 5, 2022 Common Stock 78.4K $19.00 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Performance Restricted Stock Units (PRSUs) were granted on September 17, 2020, with 100% of the PRSUs to vest upon the clearance date of an Investigational New Drug (IND) application submitted to the U.S. Food and Drug Administration (FDA) by the Company with respect to one of its product candidates. On July 5, 2022, in connection with the clearance by the FDA of the Company's IND application for DYNE-251, the Compensation Committee determined that the performance condition had been achieved.
F2 Includes 183,688 unvested RSUs.
F3 Represents shares automatically sold by the Reporting Person to satisfy tax withholding obligations in connection with the vesting of PRSUs granted to the Reporting Person on September 17, 2020. The automatic sale of the Reporting Person's shares is provided for in a restricted stock unit agreement constituting a "binding contract" consistent with the affirmative defense to liability under Rule 10b5-1 and the sale does not represent a discretionary trade by the Reporting Person.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within the range of $8.24 to $8.52, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote of this Form 4.
F5 The option was granted on July 31, 2020, with 100% of the option to vest upon the clearance date of an IND application submitted to the FDA by the Company with respect to one of its product candidates. On July 5, 2022, in connection with the clearance by the FDA of the Company's IND application for DYNE-251, the Compensation Committee determined that the performance condition had been achieved.
F6 The option was granted on September 16, 2020, with 100% of the option to vest upon the clearance date of an IND application submitted to the FDA by the Company with respect to one of its product candidates. On July 5, 2022, in connection with the clearance by the FDA of the Company's IND application for DYNE-251, the Compensation Committee determined that the performance condition had been achieved.

Remarks:

Chief Executive Officer and President