Lesage Anne 4

What Happened

• Anne Lesage, Chief Early Development at Pharvaris (PHVS), exercised stock options and sold shares on June 29–30, 2026. She exercised a total of 38,472 option-derived shares (multiple option tranches) and paid roughly $263,442 in aggregate exercise price. She sold a total of 76,172 shares in open‑market/cashless transactions for about $2.70 million (aggregate ≈ $2,695,453).

Key Details

• Transaction dates: June 29–30, 2026; Form 4 filed July 1, 2026 (appears filed timely).
• Exercise details (selected): multiple exercises at strike prices $2.59 and $8.05 (examples: 24,900 shares @ $8.05; 4,200 @ $2.59; several smaller tranches).
• Sales: weighted average sale prices reported around $35.05–$35.49; per-footnotes the sale price ranges across trades were approximately $35.00 to $35.86. Total cash received from reported sales ≈ $2.7M.
• Shares owned after transaction: not specified in the summary data provided in this request (check full Form 4 for post‑transaction beneficial ownership).
• Notable footnotes: sales were made pursuant to a Rule 10b5‑1 trading plan (scheduled exercises/sales, F1/F5). Several footnotes (F2–F6, F8) state the reported sale prices are weighted averages across multiple trades and that shares were sold in connection with cashless option exercises. Vesting schedules for options noted in F10 and F9.
• Reporting entity note: footnote references an entity controlled by Lesage (GrayMatters Consulting B.V., F7) in the filing.

Context

• These transactions are option exercises (derivative code M) followed by sales—many were cashless exercises where exercised shares were sold immediately under a pre‑arranged 10b5‑1 plan. That means Lesage converted options into shares and sold shares according to a scheduled plan rather than open, discretionary trades.
• For retail investors: exercises followed by immediate sales are often routine (to cover exercise costs and taxes) and do not necessarily signal a change in insider conviction. Purchases would typically be more informative about bullish insider sentiment.