Pharvaris (PHVS) CTO Stefan Abele Sells Shares After Option Exercise

What Happened

• Stefan Andreas Abele, Chief Technical Operations Officer of Pharvaris N.V. (PHVS), exercised 45,000 stock options at $16.40 per share (cost ≈ $738,000) on 2026-09-15 and sold 45,000 of those shares in a cashless exercise for a weighted average price of $38.14 (proceeds ≈ $1,716,188).
• On the same date he also sold 1,400 shares (acquired from vested restricted stock units) at a weighted average price of $39.24 (proceeds ≈ $54,938). Total gross proceeds from the sales ≈ $1,771,126.
• These actions are an option exercise followed by immediate sales (common cashless exercise / sell-to-cover), which realize value rather than signal an ongoing buy.

Key Details

• Transaction date: September 15, 2026; Form 4 filed September 17, 2026 (appears timely).
• Option exercise: 45,000 shares acquired @ $16.40 each (total ≈ $738k).
• Sales: 45,000 shares sold @ weighted avg $38.14 (proceeds ≈ $1,716,188; note sales prices ranged $38.00–$38.35 per F1); 1,400 shares sold @ weighted avg $39.24 (proceeds ≈ $54,938; prices ranged $39.2150–$39.27 per F2).
• The filing shows a related derivative disposition line at $0.00 for 45,000 options — this reflects surrender of option interests in the cashless exercise (not a separate cash sale).
• Vesting note (F3): 25% of the option vested Nov 15, 2024, with the remainder vesting monthly (1/48) thereafter.
• Shares owned after the transactions: not specified in the provided excerpt of the filing.

Context

• This was an exercise of stock options with most or all acquired shares sold immediately (cashless exercise / sell-to-cover). That converts option value into cash for the insider and covers exercise/tax obligations; it is a routine liquidity event and not by itself a straightforward bullish or bearish signal.