Goncalves Joana 4
4 · Oruka Therapeutics, Inc. · Filed Apr 15, 2026
Research Summary
AI-generated summary of this filing
Oruka CMO Joana Goncalves Exercises Options and Sells Shares
What Happened Joana Goncalves, Chief Medical Officer of Oruka Therapeutics (ORKA), exercised options to acquire 7,000 shares (two exercises of 3,500 shares each) and sold a total of 7,000 shares in open-market transactions on April 15, 2026. The exercises were at strike prices of $6.84 (3,500 shares; $23,940) and $7.80 (3,500 shares; $27,300) for a combined cost of $51,240. The open-market sales comprised 4,227 shares at a weighted average ~$65.73 (proceeds $277,837), 2,273 shares at a weighted average ~$66.56 (proceeds $151,301), and 500 shares at a weighted average ~$67.38 (proceeds $33,692), for total proceeds of ~$462,830. The filing also reports two related derivative-conversion line items recorded at $0 (bookkeeping entries related to conversion/exercise).
Key Details
- Transaction date: April 15, 2026.
- Exercises acquired: 7,000 shares (3,500 @ $6.84; 3,500 @ $7.80). Total exercise cost: $51,240.
- Shares sold: 7,000 shares in multiple trades; total gross proceeds ≈ $462,830.
- Reported sale price ranges (weighted averages noted in footnotes):
- 4,227 shares: multiple prices $65.31–$66.29 (weighted avg $65.73).
- 2,273 shares: multiple prices $66.31–$67.15 (weighted avg $66.56).
- 500 shares: multiple prices $67.35–$67.41 (weighted avg $67.38).
- Sales were made pursuant to a Rule 10b5-1 trading plan established Sept 19, 2025 (Footnote F1).
- Vesting info (from filing footnotes): related option and warrant vest 1/4 on Apr 18, 2025 and 1/48 monthly thereafter (F5, F6).
- Shares owned after the transactions: not disclosed in the provided filing.
- Filing timeliness: Report appears filed the same day (Apr 15, 2026); no late filing indicated.
Context
- This sequence (exercise of low‑strike options followed by immediate open‑market sales) often reflects executives monetizing vested option shares; the filing shows acquisition cost ($51K) vs. sale proceeds ($463K). The sales were executed under a pre-established 10b5-1 plan, which is a preauthorized trading arrangement and commonly used to avoid questions about timing.
- The $0 disposals labeled as derivative conversions are reporting mechanics tied to exercising/converting instruments (they do not represent cash proceeds).
- As always, these filings are factual disclosures of transactions and do not, by themselves, indicate the insider’s view of the company’s prospects.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-04-15$6.84/sh+3,500$23,940→ 36,877 total - Exercise/Conversion
Common Stock
2026-04-15$7.80/sh+3,500$27,300→ 40,377 total - Sale
Common Stock
[F1][F2]2026-04-15$65.73/sh−4,227$277,837→ 36,150 total - Sale
Common Stock
[F1][F3]2026-04-15$66.56/sh−2,273$151,301→ 33,877 total - Sale
Common Stock
[F1][F4]2026-04-15$67.38/sh−500$33,692→ 33,377 total - Exercise/Conversion
Employee Stock Option (right to buy)
[F5]2026-04-15−3,500→ 211,063 totalExercise: $6.84Exp: 2034-05-06→ Common Stock (3,500 underlying) - Exercise/Conversion
Employee Warrant (right to buy)
[F6]2026-04-15−3,500→ 182,492 totalExercise: $7.80Exp: 2034-07-14→ Common Stock (3,500 underlying)
Footnotes (6)
- [F1]These sales were effected pursuant to a Rule 10b5-1 trading plan entered into on September 19, 2025.
- [F2]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.31 to $66.29, inclusive. The reporting person undertakes to provide to Oruka Therapeutics, Inc., any security holder of Oruka Therapeutics, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2), (3) and (4) to this Form 4.
- [F3]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.31 to $67.15, inclusive.
- [F4]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.35 to $67.41, inclusive.
- [F5]The option vests as to 1/4 of the underlying shares on April 18, 2025 and as to 1/48 of the underlying shares monthly from April 18, 2025.
- [F6]The warrant vests as to 1/4 of the underlying shares on April 18, 2025 and as to 1/48 of the underlying shares monthly from April 18, 2025.