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

What Happened

• Robert Glassman, a director of Pharvaris N.V. (PHVS), exercised 14,493 stock options (transaction code M) and immediately sold those 14,493 shares on Sept 17, 2026. The exercise reported an effective cost of $18.14 per share (total $262,903). The shares were sold in the open market at a weighted-average price of $38.56 per share for gross proceeds of $558,812. A related derivative conversion was reported at $0.00, reflecting the conversion/settlement of the option position.

Key Details

• Transaction date: 2026-09-17; Form 4 filed: 2026-09-21 (filed 4 days after the transaction).
• Exercise: 14,493 shares at $18.14 (total $262,903).
• Sale: 14,493 shares at weighted avg $38.56 (total $558,812); reported sale prices ranged $38.26–$38.89 (per footnote).
• Footnotes:
  • F1: Exercise and sale were scheduled under a 10b5-1 trading plan.
  • F2: Weighted-average sale price shown; reporting person can provide per-trade prices on request.
  • F3: Option vesting: 25% vested April 1, 2023; remainder vests monthly over 3 years (1/48 per month).
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context

• This was a cashless exercise: options were exercised and the resulting shares were immediately sold (common for tax/liquidity management). Transaction code M denotes option exercise; the simultaneous sale is routine and does not, by itself, indicate management sentiment. The filing was submitted a few days after the transaction, which may be later than the typical 2-business-day Form 4 deadline.