Oruka (ORKA) SVP Finance Arjun Agarwal Exercises Options, Sells 10,000 Shares

What Happened

• Arjun Agarwal, Senior Vice President, Finance at Oruka Therapeutics (ORKA), exercised a total of 10,000 option shares on August 13, 2026 (8,542 shares at $12.50, $106,775; 1,458 shares at $34.39, $50,141; total cost $156,916).
• The same day he sold 10,000 shares in multiple open-market transactions for combined gross proceeds of approximately $1,066,572 (sales executed in five blocks with weighted-average prices reported).
• The filing also records corresponding derivative conversion/disposition lines at $0 for the exercised options, reflecting the exercise/conversion activity reported on the Form 4.

Key Details

• Transaction date: August 13, 2026; Form 4 filed August 14, 2026 (timely).
• Option exercises acquired: 8,542 @ $12.50 (cost $106,775) and 1,458 @ $34.39 (cost $50,141).
• Open-market sales (counts, weighted‑avg price, proceeds):
  • 2,100 shares @ $104.67 = $219,814 (range $104.05–$104.99)
  • 2,132 shares @ $105.57 = $225,079 (range $105.11–$106.08)
  • 1,268 shares @ $106.63 = $135,201 (range $106.11–$107.07)
  • 2,142 shares @ $107.71 = $230,723 (range $107.20–$108.19)
  • 2,358 shares @ $108.46 = $255,755 (range $108.24–$108.71)
• Total shares sold: 10,000; total reported proceeds ≈ $1,066,572.
• Shares owned after the transactions: not stated in the filing.
• Notable footnotes: sales were made pursuant to a Rule 10b5‑1 trading plan entered February 11, 2026 (F1). Price entries are weighted averages with per-trade ranges provided in footnotes (F2–F6). Vesting schedules for the option grants are noted as monthly 1/48 vests beginning Jan 1, 2025 and Jan 1, 2026 (F7, F8).

Context

• This filing shows option exercises followed by same‑day open‑market sales. That pattern commonly reflects an exercise and disposition of the resulting shares; the filing records both the acquisition from option exercise and the subsequent sales.
• Sales were executed under a pre-established 10b5‑1 plan (F1), which is a rule-based plan that schedules trades in advance and is commonly used by insiders to avoid allegations of trading on material nonpublic information.
• The activity is factual disclosure of insider transactions; it does not by itself indicate the insider’s broader view of the company.