Bjork Elisabeth 4

What Happened
Elisabeth Bjork, a director of Pharvaris N.V. (PHVS), exercised 10,000 stock options (code M) on May 20, 2026 at an exercise price of $8.05 (cost $80,500) and sold 10,000 resulting shares in an open‑market transaction (code S) at a weighted average price of $29.32 for total proceeds of $293,166. The Form 4 also reports a related disposition of 10,000 derivative shares at $0.00 concurrent with the exercise/conversion. These transactions were executed pursuant to a scheduled Rule 10b5‑1 trading plan and reflect an option exercise followed by an immediate sale (cashless exercise/sale).

Key Details

• Transaction date: 2026-05-20; Form 4 filed 2026-05-22 (filed within the usual 2‑business‑day window).
• Exercise: 10,000 options exercised at $8.05 — aggregate exercise cost $80,500.
• Sale: 10,000 shares sold, weighted average sale price $29.32 — aggregate proceeds ~$293,166 (sales ranged $29.03–$29.61 per footnote).
• Additional line: 10,000 derivative shares disposed at $0.00 reported on same date (related to the exercise/conversion).
• Footnotes: F1 = scheduled exercise/sale under a 10b5‑1 plan; F2 = weighted average sale price and cashless exercise details (reporting person can provide per‑price breakdown if requested); F3 = option vesting schedule (25% vested 4/6/2024, remainder vesting monthly over 48 months).
• Shares owned after transaction: not specified in the summary data provided in this request.

Context
This was an option exercise paired with an immediate sale under a pre‑arranged 10b5‑1 plan (i.e., a cashless exercise and sale). Such transactions are typically routine—used to cover option costs, taxes, or diversify—rather than a direct expression of new bullish or bearish views. For more detail (e.g., exact number of shares sold at each price or updated post‑transaction holdings), the reporting person notes they will provide the per‑price breakdown on request and the full Form 4/SEC filing is available (Accession: 0001193125-26-236432).