Pharvaris (PHVS) President Lu Peng Exercises Options, Sells Shares

What Happened

• Lu Peng, President of Pharvaris N.V., exercised 100,000 options at $2.59 per share (cost $259,000) and sold 100,000 shares in an open-market transaction at $35.00 per share, generating approximately $3,500,000 in proceeds.
• The filing also reports two derivative exercise/conversion dispositions of 13,308 and 86,692 shares at $0.00 (reported as dispositions) on the same date; these are listed as derivative conversions/exercises in the Form 4.

Key Details

• Transaction date: September 17, 2026.
• Exercise: 100,000 shares acquired at $2.59 each (total cash paid $259,000).
• Sale: 100,000 shares sold on the open market at $35.00 each (approx. $3,500,000 proceeds).
• Additional derivative dispositions: 13,308 and 86,692 shares reported at $0.00 (as dispositions).
• Vesting note: Footnote F1 indicates 25% of the option vested on Feb 3, 2021, with the remainder vesting monthly over the following 48 months.
• Filing: Report filed Sept 21, 2026 for a Sept 17 transaction — appears to have been filed within the SEC’s two-business-day window (timely).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context

• The exercised options and same-day sale of shares indicate the exercised shares were converted and sold on the same day; filings like this are commonly structured as an exercise followed by an immediate sale (cashless-like outcome), but the Form 4 does not state a motive.
• Sales by executives are common and do not by themselves prove a change in the insider’s view of the company; purchases are generally more informative about insider conviction.