DEERFIELD MANAGEMENT COMPANY, L.P. 4

What Happened
James E. Flynn (reported as a 10% owner via Deerfield-related entities) reported an award/acquisition of 3,444 restricted stock units (RSUs) for Nuvalent (NUVL) on 2026-06-16. The RSUs were issued at $0.00 (no cash paid) and therefore report a $0 purchase value on the Form 4. The filing was made on 2026-06-18.

Key Details

• Transaction type: Award/Grant (code A) — 3,444 RSUs granted on 2026-06-16 at $0.00 per RSU.
• Filing date: 2026-06-18 (appears timely; Form 4 due within 2 business days of transaction).
• Vesting: Footnote states RSUs vest in full on the earlier of June 16, 2027 or the issuer's next annual meeting, subject to continued service.
• Beneficial ownership/holders: Footnotes explain the RSUs are issuable to Dr. Cameron Wheeler (and references to Joseph Pearlberg) and are held for the benefit and at the direction of Deerfield Management; Flynn is the reporting person through his role in Deerfield entities.
• Shares owned after transaction: Not specified in the provided summary of the filing.
• Signature/representation: Filing executed on behalf of the Deerfield reporting persons (power of attorney noted).

Context
This is an institutional/affiliate report tied to Deerfield Management and related parties rather than a straightforward executive open-market purchase or sale. The grant of RSUs is an award (acquisition) that conveys the right to receive shares upon vesting; no cash changed hands at grant. As with most grants, it is not a direct buy/sell signal — it documents issuance and vesting terms rather than market trading by the insider.