Quinlan Paul T 4

What Happened On January 23, 2026, Paul T. Quinlan, General Counsel of Oruka Therapeutics (ORKA), received equity awards totaling 162,500 shares. The filing shows two items: 32,500 shares granted as a direct award (reported at $0.00) and a derivative award of 130,000 shares (reported at $0.00), i.e., an option/stock-right grant. No cash was paid at grant per the Form 4; these are compensation/retention awards rather than open-market purchases or sales.

Key Details

• Transaction date and filing date: January 23, 2026 (report filed same day).
• Grants: 32,500 shares (award) and 130,000 derivative shares (option/award); both reported at $0.00 per share.
• Vesting notes from the filing:
  • 32,500 award vests 1/16 of the shares on each March 14, June 14, September 14 and December 14 (or preceding trading day if not a trading day) — i.e., quarterly installments.
  • 130,000 option vests 1/48 of the underlying shares monthly beginning January 1, 2026.
• Shares owned after the transaction: not specified in the provided report details.
• Timeliness: filing appears timely (filed the same day as the reported transactions).

Context These awards are typical equity compensation/retention grants for an executive and are subject to multi-year vesting schedules; they are not immediate sales or open-market purchases. The 130,000-share item is a derivative award (vesting monthly over 48 months) — it represents future equity subject to vesting, not currently transferable shares. Such grants don’t by themselves indicate an intent to buy or sell stock in the open market.