Roivant (ROIV) President Eric Venker Exercises Options, Sells Shares

What Happened

• Eric Venker, President of Roivant Sciences Ltd. (and CEO of Immunovant), exercised options to acquire 200,000 common shares at $3.85 per share (cash paid $770,000) and sold a total of 200,000 common shares in open-market transactions on August 28, 2026. The two blocks of sales (166,182 shares and 33,818 shares) generated aggregate gross proceeds of approximately $7,153,393. The filing also reports a separate derivative disposition of 200,000 shares at $0 (see Key Details).

Key Details

• Transaction date: August 28, 2026.
• Option exercise (code M, Acquired): 200,000 shares @ $3.85 = $770,000.
• Sales (code S, Disposed): 166,182 shares @ weighted avg $35.63 = $5,921,065 (price range $35.17–$36.16 per F1); 33,818 shares @ weighted avg $36.44 = $1,232,328 (price range $36.17–$36.80 per F2). Total sales ≈ $7,153,393.
• Derivative reported disposed (code M): 200,000 shares @ $0 (no cash reported). Filing includes F3 noting a fully vested stock option award.
• Sales were effected under a Rule 10b5-1 trading plan adopted March 28, 2025 (per footnotes F1/F2).
• Ownership after the transactions is not specified in the provided excerpt of the filing.
• Filing date: September 1, 2026. Because the transactions occurred Aug 28, 2026, the Form 4 was filed on the second business day after the transaction and is timely.

Context

• The report shows an option exercise followed by same-day open-market sales of an equal number of shares, consistent with a cashless exercise/monetization pattern; the filing itself does not state the reason for the derivative disposition reported at $0 (this can reflect withholding, net settlement, or other mechanics). Sales were executed under a pre-established 10b5-1 plan, which is a routine arrangement that many insiders use to schedule transactions. The filing is factual and does not indicate insider intent.