Pharvaris (PHVS) Director Robert Glassman Exercises Options, Sells Shares

What Happened

• Robert Glassman, a director of Pharvaris N.V. (PHVS), exercised stock options and sold shares on September 9, 2026. The filing shows an exercise/acquisition of 8,000 shares at $20.00 per share (cost $160,000) and an open‑market sale of 8,000 shares at a weighted average price of $37.55 per share (proceeds $300,396). The transactions are reported as option exercises (transaction code M) and a sale (code S).

Key Details

• Transaction date: 2026-09-09 (filed 2026-09-11; filing appears timely)
• Exercise: 8,000 shares @ $20.00 = $160,000 (acquired)
• Sale: 8,000 shares @ weighted avg $37.55 = $300,396 (disposed); reported sale prices ranged $37.21–$37.83
• Additional derivative line: 8,000 shares reported as disposed at $0.00 (reflects the mechanics of the cashless exercise)
• Footnotes: F1 indicates the exercise/sale were scheduled under a Rule 10b5‑1 plan; F2 confirms the sale was tied to a cashless exercise and provides the per‑trade price range; F3 gives the option vesting schedule (25% vested Feb 5, 2022, remainder vests monthly over 48 months)
• Shares owned after the transactions: Not specified in the provided filing details

Context

• This was an option exercise with an immediate sale (cashless exercise) executed under a prearranged 10b5‑1 plan — a common, scheduled insider liquidity mechanism. Such planned sales are typically routine and do not, by themselves, indicate management sentiment about the company's prospects.
• Transaction codes: M = option exercise/conversion; S = sale. The $0.00 derivative line reflects shares surrendered/converted as part of the cashless exercise process.