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Insider Trading Arrangements
3 Months Ended
Mar. 31, 2024
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement

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 (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 our other securities, 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 quarterly period covered by this report, 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) (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

Nancy Vitale
(Director)

Adoption
(March 19, 2024)

Rule 10b5-1 trading arrangement for exercises of options and sales of shares

Sale

Until August 29, 2025, or such earlier date upon which all transactions are completed or expire without execution

Up to 89,000 shares

Toby Ferguson, M.D., Ph.D. (Chief Medical Officer)

Adoption
(March 22, 2024)

Durable Rule 10b5-1 trading arrangement for sell-to-cover transactions related to restricted stock units ("RSUs") granted on or after April 1, 2024

Sale

Until final settlement of any covered RSU

Indeterminable (1)

(1) The number 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 are satisfied, the market price of our 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 based on the passage of time 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 us in satisfaction of the applicable withholding obligation.

Nancy Vitale  
Trading Arrangements, by Individual  
Name Nancy Vitale
Title Director
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 19, 2024
Aggregate Available 89,000
Toby Ferguson, M.D., Ph.D.  
Trading Arrangements, by Individual  
Name Toby Ferguson, M.D., Ph.D.
Title Chief Medical Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 22, 2024