Avidity Biosciences Inc. has announced changes to executive compensation in connection with its pending merger with Novartis AG. The company’s board approved the accelerated vesting and payment of certain equity awards and annual cash bonuses for named executive officers, including Ms. Boyce, Dr. Flanagan, Ms. McCarthy, and Mr. Moriarty, as well as other executives. These payments, which would have otherwise been issued on or prior to the merger closing or in 2026, will now be paid out in December 2025. Each executive receiving these accelerated benefits has signed an agreement requiring repayment of the accelerated amounts if their employment ends under specified conditions before the original payment date or, in some cases, before December 31, 2029.