Pharvaris (PHVS) President Lu Peng Exercises Options, Sells Shares

What Happened

• Lu Peng, President of Pharvaris N.V. (PHVS), exercised 15,000 stock options at $2.59 per share (total exercise cost $38,850) on 2026-09-08 (derivative code M) and immediately sold the 15,000 resulting shares in an open‑market transaction (code S) the same day for a weighted average price of $40.68 per share, generating gross proceeds of $610,134. This was a scheduled sale under a Rule 10b5-1 trading plan.

Key Details

• Transaction date: 2026-09-08; Form 4 filed 2026-09-09 (appears timely).
• Exercise: 15,000 shares at $2.59 each — $38,850 total.
• Sale: 15,000 shares at a weighted average $40.68 — $610,134 total (individual sale prices ranged $40.50–$40.80).
• Net difference (gross proceeds minus exercise cost): approximately $571,284.
• Shares owned after transaction: not disclosed in the provided filing.
• Footnotes: F1/F2 confirm the transactions were part of a scheduled Rule 10b5‑1 plan and that the sales were part of a cashless exercise; reporting person will provide per‑price breakdown on request. F3 notes the options’ vesting schedule (25% vested Feb 3, 2021; remainder vests monthly over 3 years).

Context

• This was an option exercise followed by immediate sale (cashless exercise) under a prearranged 10b5‑1 plan — a common way insiders convert options to cash without ad‑hoc timing decisions. Such scheduled sales are often viewed as routine and do not by themselves indicate a change in insider sentiment.