Pharvaris (PHVS) President Lu Peng Sells 15,000 Shares

What Happened
Lu Peng, President of Pharvaris N.V., exercised stock options for 15,000 shares on 2026-09-11 at an exercise price of $2.59 per share (total cost $38,850) and immediately sold 15,000 shares that same day under a Rule 10b5-1 trading plan for a weighted average price of $40.13 per share (proceeds ≈ $601,947). In addition, Lu Peng had small share disposals to cover tax obligations: 109 shares on 2026-09-11 at $37.51 (≈ $4,089) and 117 shares on 2026-09-14 at $38.02 (≈ $4,448).

Key Details

• Transaction dates and prices:
  • 2026-09-11: Exercised 15,000 options @ $2.59 (code M) — $38,850 total.
  • 2026-09-11: Sold 15,000 shares @ weighted avg $40.13 (code S) — ≈ $601,947 proceeds. Footnote: sales prices ranged $40.00–$40.30.
  • 2026-09-11: 109 shares withheld/sold @ $37.51 (code F) — ≈ $4,089 for taxes.
  • 2026-09-14: 117 shares withheld/sold @ $38.02 (code F) — ≈ $4,448 for taxes.
• Footnotes: Sale and exercise were part of a scheduled Rule 10b5-1 plan; the cashless exercise and sale were linked. The filer can provide a per-price breakdown on request.
• Vesting: Options had a 25% vesting on Feb 3, 2021, with remaining shares vesting monthly thereafter (1/48).
• Shares owned after the transactions: not disclosed in the provided filing details.
• Timeliness: The Form 4 was filed 2026-09-15 for transactions on 2026-09-11 (reported late per filing flag 'L').

Context

• This was an option exercise immediately followed by a sale (cashless exercise) executed under a pre-set 10b5-1 plan — a common way for insiders to sell shares without ad hoc timing.
• Transaction codes: M = option exercise, S = sale (open market), F = payment of exercise price or tax withholding.
• Sales pursuant to 10b5-1 and tax-withholding dispositions are generally considered routine and do not necessarily signal a change in the insider’s view of the company.