HERON ELAINE J

The last time Elaine Heron's name appeared on a BioMarin Form 4 was June 3, 2024 — a routine option exercise paired with a tax-withholding disposition, the same mechanical pattern behind all 198,980 shares she's ever sold at the company. She hasn't transacted at BioMarin since. In the two years since, her attention — and her own money — has moved to two much smaller biotechs where she also holds board or officer roles. At Palvella Therapeutics, she made a genuine open-market purchase of 2,400 shares at $125.00 each on February 27, 2026, a roughly $300,000 commitment. At Vaxart, she bought 40,000 shares in November 2025 at just $0.405 and $0.393 — a much smaller dollar outlay (roughly $15,900) reflecting the stock's penny-share price, but a real purchase nonetheless, on top of hundreds of thousands of shares received via stock grants over the prior four years, including a 118,100-share grant as recently as July 16, 2026. Both purchases stand apart from the far larger volume of routine compensation grants running through both companies' records — they're the only transactions in this filing history where Heron put her own money in rather than simply receiving stock.