ACRV · Acrivon Therapeutics, Inc.

Shares sold automatically to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

The price reported in Column 4 above reflects the weighted average sale price. This transaction was executed in multiple trades at prices ranging from $2.17 to $2.25, inclusive. The reporting person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in footnote 2 of this Form 4.

These securities are held by President and CEO, Dr. Peter Blume-Jensen, who is also Dr. Kristina Masson's spouse. Dr. Masson disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein.

Shares sold automatically to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

These securities are held by President and CEO, Dr. Peter Blume-Jensen, who is also Dr. Kristina Masson's spouse. Dr. Masson disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein.

Shares sold automatically to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

These securities are held by co-founder and EVP, Dr. Kristina Masson, who is also Dr. Blume-Jensen's spouse. Dr. Blume-Jensen disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Shares sold automatically to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

Shares sold automatically to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

Shares sold automatically to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

Shares sold automatically to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

Shares sold automatically to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

Shares sold automatically to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

The shares subject to the option shall vest on the date immediately preceding the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through the applicable vesting date.

The shares subject to the option shall vest on the date immediately preceding the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through the applicable vesting date.

The shares subject to the option shall vest on the date immediately preceding the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through the applicable vesting date.

The shares subject to the option shall vest on the date immediately preceding the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through the applicable vesting date.

The shares subject to the option shall vest on the date immediately preceding the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through the applicable vesting date.

The shares subject to the option shall vest on the date immediately preceding the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through the applicable vesting date.

Under the Reporting Person's arrangement with RA Capital Management, L.P. (the "Adviser"), the Reporting Person holds the stock option for the benefit of RA Capital Healthcare Fund, L.P. (the "Fund") and RA Capital Nexus Fund II, L.P. (the "Nexus Fund II"). The Reporting Person is obligated to turn over to the Adviser any net cash or stock received upon exercise of the stock option, which will offset advisory fees owed by the Fund and the Nexus Fund II to the Adviser. The Reporting Person therefore disclaims beneficial ownership of the stock option and underlying Common Stock.

The shares subject to the option shall vest on the date immediately preceding the date of the Issuer's next annual meeting of stockholders, subject to Dr. Derek DiRocco's continuous service through the applicable vesting date.

RA Capital Management, L.P. (the "Adviser") is the investment manager for RA Capital Healthcare Fund, L.P. (the "Fund") and RA Capital Nexus Fund II, L.P. (the "Nexus Fund II"). The general partner of the Adviser is RA Capital Management GP, LLC (the "Adviser GP"), of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. Each of the Adviser, the Adviser GP, the Fund, the Nexus Fund II, Dr. Kolchinsky and Mr. Shah disclaims beneficial ownership of any of the reported securities, except to the extent of its or his respective pecuniary interest therein.

Under Dr. DiRocco's arrangement with the Adviser, Dr. DiRocco holds the option for the benefit of the Fund and the Nexus Fund II. Dr. DiRocco is obligated to turn over to the Adviser any net cash or stock received upon exercise of the option, which will offset advisory fees owed by the Fund and the Nexus Fund II to the Adviser. The Reporting Persons therefore disclaim beneficial ownership of the option and underlying common stock.

Shares withheld by the Issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

These securities are held by President and CEO, Dr. Peter Blume-Jensen, who is also Dr. Kristina Masson's spouse. Dr. Masson disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. These RSUs shall vest in full on May 18, 2027, subject to the Reporting Person's continuous service through such vesting date.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. Of these RSUs, 16.67% of the RSUs shall vest on November 18, 2026, and the remaining RSUs shall vest in 10 substantially equal quarterly installments thereafter, in each case subject to the Reporting Person's continuous service through each such vesting date.

Represents the grant of a restricted stock unit ("RSU") award to Derek DiRocco. Each RSU represents a contingent right to receive one share of the Issuer's common stock. The RSUs will vest in full on March 18, 2027, subject to Dr. DiRocco's continuous service as a director through such vesting date.

Under Dr. DiRocco's arrangement with the Adviser, Dr. DiRocco holds the RSUs for the benefit of the Fund and the Nexus Fund II. Dr. DiRocco is obligated to turn over to the Adviser any stock received upon settlement of the RSUs, which will offset advisory fees owed by the Fund and the Nexus Fund II to the Adviser. The Reporting Persons therefore disclaim beneficial ownership of the RSUs and underlying common stock.

RA Capital Management, L.P. (the "Adviser") is the investment manager for RA Capital Healthcare Fund, L.P. (the "Fund") and RA Capital Nexus Fund II, L.P. (the "Nexus Fund II"). The general partner of the Adviser is RA Capital Management GP, LLC (the "Adviser GP"), of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. Each of the Adviser, the Adviser GP, the Fund, the Nexus Fund II, Dr. Kolchinsky and Mr. Shah disclaims beneficial ownership of any of the reported securities, except to the extent of its or his respective pecuniary interest therein.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. Of these RSUs, 16.67% of the RSUs shall vest on November 18, 2026, and the remaining RSUs shall vest in 10 substantially equal quarterly installments thereafter, in each case subject to the Reporting Person's continuous service through each such vesting date.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. Of these RSUs, 16.67% of the RSUs shall vest on November 18, 2026, and the remaining RSUs shall vest in 10 substantially equal quarterly installments thereafter, in each case subject to the Reporting Person's continuous service through each such vesting date.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. These RSUs shall vest in full on May 18, 2027, subject to the Reporting Person's continuous service through such vesting date.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. Of these RSUs, 16.67% of the RSUs shall vest on November 18, 2026, and the remaining RSUs shall vest in 10 substantially equal quarterly installments thereafter, in each case subject to the Reporting Person's continuous service through each such vesting date.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. Of these RSUs, 16.67% of the RSUs shall vest on November 18, 2026, and the remaining RSUs shall vest in 10 substantially equal quarterly installments thereafter, in each case subject to the Reporting Person's continuous service through each such vesting date.

These securities are held by co-founder and EVP, Dr. Kristina Masson, who is also Dr. Blume-Jensen's spouse. Dr. Blume-Jensen disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. These RSUs shall vest in full on May 18, 2027, subject to the Reporting Person's continuous service through such vesting date.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. These RSUs shall vest in full on May 18, 2027, subject to the Reporting Person's continuous service through such vesting date.

Under the Reporting Person's arrangement with RA Capital Management, L.P. (the "Adviser"), the Reporting Person holds the RSUs for the benefit of RA Capital Healthcare Fund, L.P. (the "Fund") and RA Capital Nexus Fund II, L.P. (the "Nexus Fund II"). The Reporting Person is obligated to turn over to the Adviser any stock received upon settlement of the RSUs, which will offset advisory fees owed by the Fund and the Nexus Fund II to the Adviser. The Reporting Person therefore disclaims beneficial ownership of the RSUs and underlying common stock.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. Of these RSUs, 16.67% of the RSUs shall vest on November 18, 2026, and the remaining RSUs shall vest in 10 substantially equal quarterly installments thereafter, in each case subject to the Reporting Person's continuous service through each such vesting date.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. Of these RSUs, 16.67% of the RSUs shall vest on November 18, 2026, and the remaining RSUs shall vest in 10 substantially equal quarterly installments thereafter, in each case subject to the Reporting Person's continuous service through each such vesting date.

These securities are held by President and CEO, Dr. Peter Blume-Jensen, who is also Dr. Kristina Masson's spouse. Dr. Masson disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. Of these RSUs, 16.67% of the RSUs shall vest on November 18, 2026, and the remaining RSUs shall vest in 10 substantially equal quarterly installments thereafter, in each case subject to the Reporting Person's continuous service through each such vesting date.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. These RSUs shall vest in full on May 18, 2027, subject to the Reporting Person's continuous service through such vesting date.

These shares represent restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock. These RSUs shall vest in full on May 18, 2027, subject to the Reporting Person's continuous service through such vesting date.

Shares withheld by the Issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

Shares withheld by the Issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

Shares withheld by the Issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

These securities are held by President and CEO, Dr. Peter Blume-Jensen, who is also Dr. Kristina Masson's spouse. Dr. Masson disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein.

Shares withheld by the Issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

Shares withheld by the Issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

Shares withheld by the Issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

These securities are held by co-founder and EVP, Dr. Kristina Masson, who is also Dr. Blume-Jensen's spouse. Dr. Blume-Jensen disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Held directly by RA Capital Healthcare Fund, L.P. (the "Fund").

RA Capital Management, L.P. (the "Adviser") is the investment manager for the Fund and RA Capital Nexus Fund II, L.P. (the "Nexus Fund II"). The general partner of the Adviser is RA Capital Management GP, LLC (the "Adviser GP"), of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. The Adviser, the Adviser GP, Dr. Kolchinsky, and Mr. Shah disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.

Shares withheld by the Issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

Twenty-five percent (25%) of the shares subject to the option vest on March 1, 2027, and the remaining shares subject to the option vest in 36 substantially equal monthly installments thereafter, in each case subject to the Reporting Person's continuous service through each vesting date.

Twenty-five percent (25%) of the shares subject to the option vest on March 1, 2027, and the remaining shares subject to the option vest in 36 substantially equal monthly installments thereafter, in each case subject to the Reporting Person's continuous service through each vesting date.

Twenty-five percent (25%) of the shares subject to the option vest on March 1, 2027, and the remaining shares subject to the option vest in 36 substantially equal monthly installments thereafter, in each case subject to the Reporting Person's continuous service through each vesting date.

These securities are held by co-founder and EVP, Dr. Kristina Masson, who is also Dr. Blume-Jensen's spouse. Dr. Blume-Jensen disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Twenty-five percent (25%) of the shares subject to the option vest on March 1, 2027, and the remaining shares subject to the option vest in 36 substantially equal monthly installments thereafter, in each case subject to the Reporting Person's continuous service through each vesting date.

Twenty-five percent (25%) of the shares subject to the option vest on March 1, 2027, and the remaining shares subject to the option vest in 36 substantially equal monthly installments thereafter, in each case subject to the Reporting Person's continuous service through each vesting date.

Twenty-five percent (25%) of the shares subject to the option vest on March 1, 2027, and the remaining shares subject to the option vest in 36 substantially equal monthly installments thereafter, in each case subject to the Reporting Person's continuous service through each vesting date.

Twenty-five percent (25%) of the shares subject to the option vest on March 1, 2027, and the remaining shares subject to the option vest in 36 substantially equal monthly installments thereafter, in each case subject to the Reporting Person's continuous service through each vesting date.

Twenty-five percent (25%) of the shares subject to the option vest on March 1, 2027, and the remaining shares subject to the option vest in 36 substantially equal monthly installments thereafter, in each case subject to the Reporting Person's continuous service through each vesting date.

These securities are held by President and CEO, Dr. Peter Blume-Jensen, who is also Dr. Kristina Masson's spouse. Dr. Masson disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein.

Shares withheld by the Issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.

These securities are held by President and CEO, Dr. Peter Blume-Jensen, who is also Dr. Kristina Masson's spouse. Dr. Masson disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein.

Shares withheld by the Issuer to satisfy the mandatory tax withholding requirement upon vesting of restricted stock units.