Pharvaris (PHVS) Anne Lesage (Chief Early Dev) Exercises Options, Sells Shares

What Happened

• Anne Lesage, Chief Early Development at Pharvaris (PHVS), exercised stock options and sold shares on 2026-09-10. She exercised 30,000 options at $8.05 per share (cost $241,500) and sold 30,000 shares in the open market at a weighted average price of $38.30, netting about $1,149,084. An additional 8,000 option-derived shares were listed as disposed at $0, consistent with a cashless exercise/tax withholding component.

Key Details

• Transaction date: 2026-09-10; Form 4 filed 2026-09-14 (timely filed within the 2 business‑day window).
• Exercise: 30,000 shares @ $8.05 = $241,500 (code M — option exercise).
• Sale: 30,000 shares @ weighted avg $38.30 = $1,149,084 (code S — open market sale).
• Derivative disposition: 8,000 shares listed at $0 (likely part of cashless exercise/tax withholding).
• Shares owned after transaction: Not disclosed in the provided excerpt of the filing.
• Footnotes: F1 — transactions were scheduled under a Rule 10b5‑1 trading plan; F2 — $38.30 is a weighted average sale price (individual sale prices ranged $38.00–$38.90) and the reporting person can provide per‑trade breakdown; F3 — option vesting: 25% vested April 6, 2024, remainder vests monthly (1/48).

Context

• This was a cashless exercise and sale under a pre‑arranged 10b5‑1 plan, a common mechanism executives use to exercise options and sell shares on a schedule; such sales are generally considered routine and do not necessarily signal a change in personal view of the company.
• The 8,000 shares shown with $0 value likely represent shares withheld to cover exercise costs or tax obligations as part of the cashless exercise process.