Sandler Laura Lee 4

What Happened

• Laura Sandler, Chief Operating Officer of Oruka Therapeutics (ORKA), was granted two equity awards on 2026-01-23: 32,500 shares issued at $0.00 and a derivative award covering 130,000 underlying shares (option) also at $0.00. The filing lists $0 paid for both grants; market value is not provided in the Form 4.

Key Details

• Transaction date: 2026-01-23 (filing accession recorded 2026-01-23).
• Grants: 32,500 shares (direct award) and 130,000 shares (derivative/option award); acquisition price reported as $0.00 for both.
• Vesting: Direct award vests 1/16 of shares on each March 14, June 14, September 14 and December 14 (or preceding trading day) (F1). The option vests 1/48 of underlying shares monthly beginning January 1, 2026 (F2).
• Shares owned after transaction: not specified in the summary data provided in this request/filing.
• Filing timeliness: filing date matches transaction date (no late-filing flag indicated).

Context

• These are grants/awards (not open-market purchases or sales). Grants at $0 typically reflect compensation packages rather than an insider purchase; their realized value depends on ORKA’s future stock price and the vesting schedule.
• The 130,000-share instrument is a derivative (option) with a multi-year monthly vesting schedule—shares become exercisable over time rather than immediately.