Adverum Biotechnologies (ADVM) Form 3 Adverum Biotechnologies / Julie Clark ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Clark Julie

(Last) (First) (Middle)

C/O ADVERUM BIOTECHNOLOGIES, INC.

800 SAGINAW DRIVE

(Street)

REDWOOD CITY CA 94063

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/01/2021

3. Issuer Name and Ticker or Trading Symbol
Adverum Biotechnologies, Inc. [ ADVM ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Medical Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	49,489(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	(2)	05/14/2030	Common Stock	60,000	18.1	D
Stock Option (Right to Buy)	(3)	02/16/2031	Common Stock	33,750	13.44	D

Explanation of Responses:

1. Includes 46,125 Restricted Stock Units ("RSUs"). The Reporting Person is entitled to receive one (1) share of Common Stock of the Issuer for each one (1) RSU upon the vesting thereof, subject to the following vesting schedules: (A) 5,625 of such RSUs vest as to 1/4 of the shares subject thereto on each annual anniversary of February 16, 2021 and (B) 40,500 of such RSUs vest as to 1/3 of the shares subject thereto on the six-month anniversary of March 31, 2021 (the "3/31/21 RSU Vesting Commencement Date"), and the remaining 2/3 of the shares subject thereto shall vest on the one-year anniversary of the 3/31/21 RSU Vesting Commencement Date, in each case, subject to the Reporting Person's continued service with the Issuer on each such vesting date.

2. Twenty-five percent (25%) of the total number of shares subject to the option vested and became exercisable on the first anniversary of May 15, 2020 (the "2020 Option Vesting Commencement Date"), and 1/48 of the total number of shares subject to the option vest and become exercisable each month thereafter, such that all of the shares subject to the option shall become vested and exercisable as of the fourth anniversary of the 2020 Option Vesting Commencement Date, subject to the Reporting Person's continued service with the Issuer on each such vesting date.

3. Twenty-five percent (25%) of the total number of shares subject to the option vest and become exercisable on the first anniversary of February 16, 2021 (the "2021 Option Vesting Commencement Date"), and 1/48 of the total number of shares subject to the option vest and become exercisable each month thereafter, such that all of the shares subject to the option shall become vested and exercisable as of the fourth anniversary of the 2021 Option Vesting Commencement Date, subject to the Reporting Person's continued service with the Issuer on each such vesting date.

Remarks:

	Julie Clark, by /s/ Ron A. Metzger, Attorney-in-Fact	06/03/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.