Palvella (PVLA) Director Christopher Kiritsy Exercises Options, Sells Shares

What Happened

• Christopher P. Kiritsy, a director of Palvella Therapeutics (PVLA), exercised 313 stock options on Sept 2, 2026 at an exercise price of $127.20 per share (total cash paid $39,814) and immediately sold those 313 shares in an open-market transaction at $157.00 per share for proceeds of $49,141. The filing also reports the derivative (the option) being surrendered/settled in connection with the exercise.

Key Details

• Transaction date: 2026-09-02; Exercise: 313 shares @ $127.20 = $39,814 (acquired). Sale: 313 shares @ $157.00 = $49,141 (disposed). Derivative disposal: 313 shares @ $0.00 (reflects option settlement).
• Shares owned after transaction: not specified in the provided summary filing data.
• Footnotes: F1 — reported share counts adjusted for issuer's 1-for-80 reverse stock split effective April 23, 2024. F2 — the option exercised was fully vested.
• Filing: Form 4 filed Sept 4, 2026 for a Sept 2, 2026 transaction — appears timely based on filing date.

Context

• This was an exercise of vested options followed by an immediate sale of the resulting shares (a simultaneous exercise-and-sell/cashless-style transaction). Such transactions commonly reflect option liquidity or tax-payment choices; they are routine for insiders and do not, by themselves, indicate a view on company prospects.