Agarwal Arjun 4

4 · Oruka Therapeutics, Inc. · Filed May 18, 2026

AI-generated summary of this filing

Updated May 18, 2026

Oruka (ORKA) SVP Finance Arjun Agarwal Exercises Options, Sells 10,290 Shares

What Happened

Arjun Agarwal, Senior Vice President, Finance at Oruka Therapeutics (ORKA), exercised stock options and sold shares on May 18, 2026. He exercised 2,000 options at $12.50 (cost $25,000) and 5,833 options at $34.39 (cost $200,597), acquiring 7,833 shares for about $225,597 in aggregate.
On the same day he sold 10,290 shares in multiple open-market transactions for total proceeds of about $607,806 (sales broken into lots of 4,190; 4,600; 800; and 700 shares at weighted-average prices shown below). The filing also reports $0.00 disposals corresponding to the exercised derivatives (see Key Details).

Key Details

Transaction date: May 18, 2026. All sales were effected pursuant to a Rule 10b5-1 trading plan (Footnote F1).
Option exercises (reported as "M"): 2,000 shares at $12.50 ($25,000) and 5,833 shares at $34.39 ($200,597).
Open-market sales (reported as "S"): total 10,290 shares for approximately $607,806, broken down by weighted-average prices:
- 4,190 shares at $58.34 (range $57.72–$58.71; F2) — $244,465
- 4,600 shares at $59.19 (range $58.76–$59.75; F3) — $272,260
- 800 shares at $60.34 (range $59.78–$60.72; F4) — $48,269
- 700 shares at $61.16 (range $60.82–$61.76; F5) — $42,812
The filing shows parallel derivative disposition entries for 2,000 and 5,833 shares reported at $0.00 (these relate to the option exercises/conversion reporting).
Vesting notes: the options vest 1/48 monthly from Jan 1, 2025 (F6) and Jan 1, 2026 (F7) as applicable.
Shares owned after transaction: Not specified in the provided filing.
Timeliness: Filing date and reporting period are both May 18, 2026 — the Form 4 appears timely.

Context

The filing documents option exercises followed by same-day open-market sales. When exercised shares are sold the same day, this is commonly a sell-to-cover or cashless-style outcome (the filing shows separate exercise and sale entries rather than a single combined cashless transaction).
Sales executed under a 10b5-1 plan indicate pre-arranged trading instructions; such sales are routine compliance mechanisms and do not, by themselves, indicate insider sentiment.
This summary is factual and based on the Form 4; it does not speculate on the insider’s motives.

Form 4

Period: 2026-05-18

Senior Vice President, Finance

Transactions

Exercise/Conversion
Common Stock
2026-05-18$12.50/sh+2,000$25,000→ 20,863 total
Exercise/Conversion
Common Stock
2026-05-18$34.39/sh+5,833$200,597→ 26,696 total
Sale
Common Stock
[F1][F2]
2026-05-18$58.34/sh−4,190$244,465→ 22,506 total
Sale
Common Stock
[F1][F3]
2026-05-18$59.19/sh−4,600$272,260→ 17,906 total
Sale
Common Stock
[F1][F4]
2026-05-18$60.34/sh−800$48,269→ 17,106 total
Sale
Common Stock
[F1][F5]
2026-05-18$61.16/sh−700$42,812→ 16,406 total
Exercise/Conversion
Employee Stock Option (right to buy)
[F6]
2026-05-18−2,000→ 118,000 total
Exercise: $12.50Exp: 2035-01-21→ Common Stock (2,000 underlying)
Exercise/Conversion
Employee Stock Option (right to buy)
[F7]
2026-05-18−5,833→ 64,167 total
Exercise: $34.39Exp: 2036-01-22→ Common Stock (5,833 underlying)

Footnotes (7)

[F1]These sales were effected pursuant to a Rule 10b5-1 trading plan entered into on February 11, 2026.
[F2]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $57.72 to $58.71, 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), (4) and (5) 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 $58.76 to $59.75, inclusive.
[F4]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $59.78 to $60.72, inclusive.
[F5]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $60.82 to $61.76, inclusive.
[F6]The option vests as to 1/48 of the underlying shares monthly from January 1, 2025.
[F7]The option vests as to 1/48 of the underlying shares monthly from January 1, 2026.

Signature

/s/ Paul Quinlan, as attorney-in-fact for Arjun Agarwal|2026-05-18

1 file