Dyne Therapeutics Inc
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
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Other Information
Item 5. Other Information.
Director and Officer Trading Arrangements
A portion of the compensation of our directors and officers (as defined in Rule 16a-1(f) under the Securities Exchange Act of 1934, as amended, or the Exchange Act, is in the form of equity awards and, from time to time, directors and officers engage in open-market transactions with respect to the securities acquired pursuant to such equity awards or other securities of ours, including to satisfy tax withholding obligations when equity awards vest or are exercised, and for diversification or other personal reasons.
Transactions in our securities by directors and officers are required to be made in accordance with our insider trading policy, which requires that the transactions be in accordance with applicable U.S. federal securities laws that prohibit trading while in possession of material nonpublic information. Rule 10b5-1 under the Exchange Act provides an affirmative defense that enables directors and officers to prearrange transactions in our securities in a manner that avoids concerns about initiating transactions while in possession of material nonpublic information.
The following table describes, for the first quarter of 2024, each trading arrangement for the sale or purchase of our securities adopted or terminated by our directors and officers that is either (1) a contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), which we refer to as a “Rule 10b5-1 trading arrangement” or (2) a “non-Rule 10b5-1 trading arrangement” (as defined in Item 408(c) of Regulation S-K):
| Name (Title) | Action Taken (Date of Action) | Type of Trading Arrangement | Nature of Trading Arrangement | Duration of Trading Arrangement | Aggregate Number of Securities |
|---|---|---|---|---|---|
| Susanna High (Chief Operating Officer) | Adoption (March 7, 2024) | Rule 10b5-1 trading arrangement | Sale | (1) | (1) |
| Wildon Farwell (Chief Medical Officer) | Adoption (January 25, 2024) | Durable Rule 10b5-1 trading arrangement for sell-to-cover transactions related to restricted stock units granted on or after November 15, 2023 | Sale | Until final settlement of any covered RSU | Indeterminable(2) |
| Susanna High (Chief Operating Officer) | Adoption (January 25, 2024) | Durable Rule 10b5-1 trading arrangement for sell-to-cover transactions related to restricted stock units granted on or after November 15, 2023 | Sale | Until final settlement of any covered RSU | Indeterminable(2) |
| Oxana Beskrovnaya (Chief Scientific Officer) | Adoption (January 25, 2024) | Durable Rule 10b5-1 trading arrangement for sell-to-cover transactions related to restricted stock units granted on or after November 15, 2023 | Sale | Until final settlement of any covered RSU | Indeterminable(2) |
| Jonathan McNeill (Chief Business Officer) | Adoption (January 25, 2024) | Durable Rule 10b5-1 trading arrangement for sell-to-cover transactions related to restricted stock units granted on or after November 15, 2023 | Sale | Until final settlement of any covered RSU | Indeterminable(2) |
| Richard Scalzo (Senior Vice President, Head of Finance and Administration) | Adoption (January 25, 2024) | Durable Rule 10b5-1 trading arrangement for sell-to-cover transactions related to restricted stock units granted on or after November 15, 2023 | Sale | Until final settlement of any covered RSU | Indeterminable(2) |
| Joshua Brumm (Former Chief Executive Officer) | Adoption (January 26, 2024) | Durable Rule 10b5-1 trading arrangement for sell-to-cover transactions related to restricted stock units granted on or after November 15, 2023 | Sale | Until final settlement of any covered RSU | Indeterminable(2) |
(1)
This trading plan has a scheduled expiration date of June 30, 2025. The number of shares of our common stock to be sold under the plan is up to 195,323 shares.
(2)
Thenumber of shares subject to covered RSUs that will be sold to satisfy applicable tax withholding obligations upon vesting is unknown as the number will vary based on the extent to which vesting conditions aresatisfied, the market price of the Company’s common stock at the time of settlement and the potential future grant of additional RSUs subject to this arrangement. This trading arrangement, which applies to RSUs whether vesting is based on the passage of time and/or the achievement of performance goals, provides for the automatic sale of shares that would otherwise be issuable on each settlement date of a covered RSU in an amount sufficient to satisfy the applicable withholding obligation, with the proceeds of the sale delivered to the Company in satisfaction of the applicable withholding obligation.
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