Pharvaris (PHVS) CMO Lu Peng Exercises Options, Sells 300 Shares

What Happened Lu Peng, Chief Medical Officer of Pharvaris N.V. (PHVS), exercised 300 stock options at $2.59 per share (total cost ~$777) and immediately sold 300 shares in the open market at $34.00 each, generating proceeds of about $10,200. The transactions were executed on June 18, 2026 and reported on a Form 4 filed June 23, 2026.

Key Details

• Transaction date: 2026-06-18; Form 4 filed: 2026-06-23 (filed late).
• Exercise: 300 shares exercised at $2.59/share — total cash paid ~$777.
• Sale: 300 shares sold in open market at $34.00/share — gross proceeds ~$10,200.
• A second derivative entry for 300 shares reported at $0 reflects conversion/settlement mechanics related to the exercise (not additional cash received).
• Footnote: The trades were part of a pre‑arranged 10b5‑1 plan (scheduled exercise and sale).
• Vesting: The option vests 25% on Feb 3, 2021, with the remainder vesting monthly (1/48 installments) — the exercised options were vested per that schedule.
• Shares owned after the transaction are not specified in the provided filing excerpt.

Context

• Because the exercise and sale occurred together under a 10b5‑1 plan, this is a scheduled, routine sale rather than an ad‑hoc insider trade. Practically, this resembles a cashless exercise where options are converted to shares and those shares are sold to realize proceeds (and potentially cover exercise costs/taxes).
• The filing was submitted after the typical two-business-day deadline (marked late), which is a reporting timeliness issue but does not, by itself, indicate substantive wrongdoing.