Oruka (ORKA) GC Quinlan Exercises Options, Sells 52,000 Shares

What Happened
Quinlan Paul T, General Counsel of Oruka Therapeutics (ORKA), exercised options/derivatives to acquire 52,000 shares (10,000 shares at $7.80 and 42,000 shares at $12.50, total exercise cost $603,000) and sold the 52,000 shares in multiple open‑market transactions on August 14, 2026. The sales produced total proceeds of approximately $5,641,410 (weighted average sale price ≈ $108.49). The filing shows the exercise/conversion entries (code M) and the sales (code S).

Key Details

• Transaction date: August 14, 2026 (Form 4 filed same day — timely).
• Exercise: 10,000 shares @ $7.80 = $78,000; 42,000 shares @ $12.50 = $525,000 (total paid ≈ $603,000).
• Sales: 52,000 shares sold across multiple trades; total proceeds ≈ $5,641,410; overall weighted average ≈ $108.49/share. Individual weighted averages and price ranges per filing:
  • 3,630 shares avg $106.05 (range $105.53–$106.51)
  • 10,434 shares avg $107.14 (range $106.54–$107.53)
  • 14,696 shares avg $107.97 (range $107.54–$108.52)
  • 10,200 shares avg $109.11 (range $108.56–$109.51)
  • 9,193 shares avg $110.00 (range $109.58–$110.55)
  • 3,847 shares avg $111.14 (range $110.66–$111.22)
• Footnotes: Sales were effected under a Rule 10b5‑1 trading plan entered May 15, 2026 (F1). Several footnotes (F2–F7) note the reported prices are weighted averages with price ranges; F8 and F9 describe vesting schedules for underlying derivatives.
• Shares owned after the transactions: not specified in the provided filing details.

Context

• This was an exercise followed by immediate sales (commonly a cashless exercise pattern): options/derivatives were converted to shares and those shares were sold the same day under a pre-established 10b5‑1 plan. Such pre-planned sales are routine and don’t necessarily signal a change in the insider’s view.
• The filing is timely (no late filing flag).