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Possible new Arvinas shares

ARVNDilution

Known so far: no new shares from the prospectus covers read · shelf not limited by the baby-shelf rule · not yet read: warrants, converts.

Shelf room

  • Room today not capped by the baby-shelf rule ($469M float, Jun 30, 2025)
How this is worked out

Shelf room on the S-3ASR of Dec 8, 2023: not limited by the baby-shelf rule, because the $469M public float stated as of Jun 30, 2025 is $75M or more. Sources: S-3ASR Dec 8, 2023, effective Dec 8, 2023 · public float, as of Jun 30, 2025.

What could become new Arvinas (ARVN) shares: options and RSUs and an ATM program, each with the 10-Q, 10-K, S-3 or 424B filing it comes from.

Arvinas dilution ladder

Every source of new shares on record, from the filings that created it.

65.5M outstanding; up to 77.6M fully diluted, +18%

  1. Outstandingas of Oct 30, 2026 (10-Q filed Nov 3) · share count on the cover page
    65.5M
  2. At-the-market program$123.2M sold10-Q Nov 3, 2026 · equity noteshown in dollars and left out of the share total: no filing states a price to convert it at
    not added
  3. Options and RSUs8.8M options, 3.3M RSUs10-Q Nov 3, 2026 · securities left out of diluted EPS
    +12.1M

Not stated in the filings we read: warrants, convertible notes.

Counts, sizes and prices as stated in each filing; the fully diluted count is arithmetic on them. Dollars become shares only at a price a filing states. Not advice.

Financing terms to know

None found in filings since Nov 3, 2026.

Each term is quoted from the exhibit it comes from; numbers are as stated in the filing. A flag describes a financing term. It is not investment advice.

Shares outstanding

65.5M

Feb 2025 to Oct 2026: from 68.8M to 65.5M.

From the share count on the cover of each 10-Q and 10-K, dated as each cover states.