Lu Peng 4

What Happened

• Lu Peng, Chief Medical Officer of Pharvaris (PHVS), exercised stock options to acquire 29,700 shares (15,000 on 2026-06-25 and 14,700 on 2026-06-26) at an exercise price of $2.59 per share (total cash cost ≈ $76,923). Immediately following the exercises, Lu sold the same 29,700 shares in open-market/cashless transactions, generating aggregate gross proceeds of about $1,018,832 (sales on 6/25: 11,600 @ $34.45 and 3,400 @ $35.09; sale on 6/26: 14,700 @ $34.00).

Key Details

• Transaction dates and prices:
  • 2026-06-25: exercised 15,000 shares @ $2.59; sold 11,600 @ weighted avg $34.45 and 3,400 @ weighted avg $35.09.
  • 2026-06-26: exercised 14,700 shares @ $2.59; sold 14,700 @ weighted avg $34.00.
• Gross proceeds from sales ≈ $1.02M; total exercise cash outlay ≈ $76.9K.
• These sales were executed pursuant to a Rule 10b5-1 trading plan (scheduled exercise/sales per footnote F1).
• Footnotes state sales were cashless exercises; reported sale prices are weighted averages with ranges: 6/25 sales ranged ~$34.00–$34.98 and ~$35.00–$35.29 (see F2–F4 for ranges); filer can provide per‑trade breakdown on request.
• Vesting note: the options underlying the exercises vested on a standard schedule (25% on Feb 3, 2021, remainder monthly over 3 years) (F5).
• Filing: report filed 2026-06-29 — timely relative to the reported transaction dates ( Form 4 filing deadline is two business days).

Context

• This was an option exercise immediately followed by sales (a cashless exercise), a common way for insiders to cover option exercise costs and tax withholding; such transactions are routine and do not by themselves indicate a change in company outlook.
• The filings show the options were exercised and the resulting shares sold under a pre-existing 10b5-1 plan, which generally means trades were pre-scheduled.