Sec Form 4 Filing - Maddux Randy Joe @ Aptevo Therapeutics Inc. - 2020-07-27

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Maddux Randy Joe 2. Issuer Name and Ticker or Trading Symbol Aptevo Therapeutics Inc. [ APVO] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) SVP of Operations, CMO (Last) (First) (Middle) C/O APTEVO THERAPEUTICS INC., 2401 4TH AVENUE, SUITE 1050 3. Date of Earliest Transaction (MM/DD/YY) 07/27/2020 (Street) SEATTLE, WA98121 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock Option (right to buy) $ 41.16 ( 1 ) 07/27/2020 D 5,357 ( 1 ) ( 2 ) 08/03/2026 Common Stock 5,357 ( 1 ) ( 3 ) 0 D Stock Option (right to buy) $ 27.44 ( 1 ) 07/27/2020 D 2,407 ( 1 ) ( 4 ) 02/24/2027 Common Stock 2,407 ( 1 ) ( 3 ) 0 D Stock Option (right to buy) $ 30.1 ( 1 ) 07/27/2020 D 2,407 ( 1 ) ( 5 ) 06/01/2027 Common Stock 2,407 ( 1 ) ( 3 ) 0 D Stock Option (right to buy) $ 43.82 ( 1 ) 07/27/2020 D 4,814 ( 1 ) ( 6 ) 03/09/2028 Common Stock 4,814 ( 1 ) ( 3 ) 0 D Stock Option (right to buy) $ 21.28 ( 1 ) 07/27/2020 D 4,814 ( 1 ) ( 7 ) 02/28/2029 Common Stock 4,814 ( 1 ) ( 3 ) 0 D Stock Option (right to buy) $ 8.56 07/27/2020 A 6,423 ( 8 ) 07/26/2030 Common Stock 6,423 ( 3 ) 6,423 D Stock Option (right to buy) $ 8.56 07/27/2020 A 2,140 ( 9 ) 07/26/2030 Common Stock 2,140 ( 3 ) 2,140 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Maddux Randy Joe C/O APTEVO THERAPEUTICS INC. 2401 4TH AVENUE, SUITE 1050 SEATTLE, WA98121 SVP of Operations, CMO Signatures /s/ Carl A. Valenstein, attorney-in-fact 07/29/2020 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Reflects a 1-for-14 reverse stock split of the issuer's common stock effective as of March 26, 2020. ( 2 )This stock option award vested over three years, and the final one-third vested on August 3, 2020. ( 3 )In connection with the issuer's offer exchange program described in the issuer's tender offer statement on Schedule TO filed by the issuer with the Securities and Exchange Commission on June 29, 2020, as amended, on July 27, 2020 the issuer cancelled certain of the reporting person's options to acquire shares of the issuer's common stock and, in exchange thereof, granted the reporting person new options to acquire shares of the issuer's common stock, in each case, as reported on this Form 4. ( 4 )This stock option award vested over three years, and the final one-third vested on February 24, 2020. ( 5 )This stock option award vested over three years, and the final one-third vested on June 1, 2020. ( 6 )These options provide for vesting in three approximately equal annual installments beginning on March 9, 2018. Prior to July 27, 2020, all but 1,605 shares of the issuer's common stock underlying this stock option had vested. ( 7 )These options provide for vesting in three approximately equal annual installments beginning on February 28. 2020. Prior to July 27, 2020, all but 3,210 shares of the issuer's common stock underlying this stock option had vested. ( 8 )These options vest in full on the one year anniversary of the date of grant. ( 9 )These options will vest in three approximately equal annual installments beginning on the one-year anniversary of the date of grant.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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