Peter Soparkar - Oct 3, 2023 Form 4 Insider Report for Adverum Biotechnologies, Inc. (ADVM)

Role: CHIEF OPERATING OFFICER
Signature: /s/ John Rakow, Attorney-in-Fact
Stock symbol: ADVM
Transactions as of: Oct 3, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/12/2024, 07:06 PM
Previous filing: Mar 17, 2023
Next filing: Feb 14, 2024

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	ADVM	Stock Option (Right to Buy)	Award	$0	+130K		$0.00	130K	Oct 3, 2023	Common Stock	130K	$1.29	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects the meeting of the performance condition of performance stock options previously granted to the Reporting Person, pursuant to which 1/24 of the total number of shares subject to the option vest and become exercisable each month following the date upon which the first cohort of patients in the LUNA trial were fully dosed (the "Vesting Commencement Date"), such that all of the shares shall be vested and exercisable as of the second anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service with the Issuer on each such vesting date. On October 3, 2023, the Issuer's Compensation Committee certified that the Vesting Commencement Date occurred on August 16, 2023.

Content

Reflects the meeting of the performance condition of performance stock options previously granted to the Reporting Person, pursuant to which 1/24 of the total number of shares subject to the option vest and become exercisable each month following the date upon which the first cohort of patients in the LUNA trial were fully dosed (the "Vesting Commencement Date"), such that all of the shares shall be vested and exercisable as of the second anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service with the Issuer on each such vesting date. On October 3, 2023, the Issuer's Compensation Committee certified that the Vesting Commencement Date occurred on August 16, 2023.