As of March 23, 2026, the three largest insider holders of AARD are Venture Fund Vi Pte Ltd Vickers (TenPercentOwner, 2.05Mn shares), Tien-Li Lee (Chief Executive Officer, 1.55Mn shares), Asset Management, Lp Cormorant (Other, 987.69K shares).
| Holder | Position | Shares (Direct) | Shares (Indirect) | Report Date |
|---|---|---|---|---|
| Venture Fund Vi Pte Ltd Vickers | 0 | 2,050,902 | 19 Feb, 2025 | |
| Tien-Li Lee | Chief Executive Officer | 1,551,613 | 0 | 12 Dec, 2025 |
| Asset Management, Lp Cormorant | 0 | 987,689 | 19 Feb, 2025 | |
| Capital Global Life Sciences Fund Iv, L.P. Decheng | 0 | 958,412 | 19 Feb, 2025 | |
| Jeffrey Chi | 0 | 133,364 | 19 Feb, 2025 | |
| Nelson Sun | Chief Financial Officer | 108,484 | 0 | 12 Dec, 2025 |
| Bryan Jones | Chief Operating Officer | 1,250 | 0 | 16 Oct, 2025 |
* Please note that the shares above only reflect shares from the fund portfolio and the institutional portfolio. Shares from the personal portfolio are excluded from this Institutional Ownership Page. See these insiders' latest transactions here on Insider Page.
| Transaction Date | Insider Name | Security Class | Transaction Type | Shares Traded | Price | Shares Remaining | Ownership | Code |
|---|---|---|---|---|---|---|---|---|
| 09 Feb, 2026 | Nelson Sun | Stock option (right to buy) | D | 70,549 | $0.00 | 70,549 | D | A |
| 09 Feb, 2026 | Tien-Li Lee | Stock option (right to buy) | D | 203,851 | $0.00 | 203,851 | D | A |
| 09 Feb, 2026 | Manasi Jaiman | Stock option (right to buy) | D | 70,549 | $0.00 | 70,549 | D | A |
| 11 Dec, 2025 | Tien-Li Lee | Common Stock | A | 7,000 | $14.49 | 1,551,613 | D | P |
| 11 Dec, 2025 | Nelson Sun | Common Stock | A | 3,000 | $14.40 | 108,484 | D | P |
| 15 Oct, 2025 | Tien-Li Lee | Common Stock | A | 1,229 | $4.24 | 1,544,613 | D | M |
| 15 Oct, 2025 | Bryan Jones | Common Stock | A | 1,250 | $4.24 | 1,250 | D | M |
| 15 Oct, 2025 | Bryan Jones | Stock option (right to buy) | D | 1,250 | $0.00 | 40,052 | D | M |
| 15 Oct, 2025 | Tien-Li Lee | Stock option (right to buy) | D | 1,229 | $0.00 | 40,566 | D | M |
| 15 Sep, 2025 | Tien-Li Lee | Common Stock | A | 6,500 | $9.51 | 1,539,884 | D | P |
| 15 Sep, 2025 | Tien-Li Lee | Common Stock | A | 3,500 | $9.94 | 1,543,384 | D | P |
| 10 Sep, 2025 | Tien-Li Lee | Common Stock | A | 9,000 | $7.91 | 1,522,384 | D | P |
| 11 Sep, 2025 | Tien-Li Lee | Common Stock | A | 6,000 | $7.82 | 1,528,384 | D | P |
| 12 Sep, 2025 | Tien-Li Lee | Common Stock | A | 5,000 | $8.50 | 1,533,384 | D | P |
| 09 Sep, 2025 | Nelson Sun | Common Stock | A | 6,000 | $8.07 | 105,484 | D | P |
| 28 Aug, 2025 | Tien-Li Lee | Common Stock | A | 17,209 | $4.24 | 1,513,384 | D | M |
| 28 Aug, 2025 | Tien-Li Lee | Stock option (right to buy) | D | 17,209 | $0.00 | 41,795 | D | M |
| 11 Jun, 2025 | Nelson Sun | Stock Option (right to buy) | A | 209,826 | $0.00 | 209,826 | D | A |
| 11 Jun, 2025 | Susan E Graf | Stock Option (right to buy) | A | 30,508 | $0.00 | 30,508 | D | A |
| 11 Jun, 2025 | Jeffrey Chi | Stock Option (right to buy) | A | 61,017 | $0.00 | 61,017 | D | A |