Pharvaris (PHVS) Director Exercises Options, Sells 800 Shares

What Happened Schikan Johannes Gerardus Christiaan Petrus (Director) exercised stock options to acquire 800 shares of Pharvaris at an exercise price of $20.00 per share (cost $16,000) and sold 800 shares in an open-market, cashless exercise transaction, generating proceeds of approximately $28,952 (weighted average sale price $36.19).

Key Details

• Transaction date: September 22, 2026. Form filed September 24, 2026 (filed within the normal Form 4 reporting window).
• Exercise: 800 shares at $20.00 each (total exercise cash paid: $16,000).
• Sale: 800 shares sold at a weighted average price of $36.19 (total proceeds ≈ $28,952). Reported sale prices ranged from $36.15 to $36.23 (see footnote).
• Derivative entry: 800 option shares were recorded as disposed at $0, reflecting surrender of option shares as part of the cashless exercise.
• Vesting note: 25% of the option vested on Feb 5, 2022; remaining shares vest monthly (1/48) thereafter.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context This was a cashless exercise: the director exercised vested options, and shares were immediately sold to cover exercise cost and possibly taxes, a common routine for option holders. The derivative/disposition entry documents the option shares surrendered in that cashless exercise rather than an additional market sale. This activity is a sale (routine monetization) rather than a fresh purchase signal.