Palleiko Benjamin L 4

What Happened

• Benjamin L. Palleiko, CEO of KalVista Pharmaceuticals, reported the settlement/conversion of RSUs on Feb 11, 2026 and an open‑market sale on Feb 12, 2026. The filing shows 7,120 shares were converted/settled on Feb 11 (derivative/RSU transaction), and 3,354 shares were sold on the open market on Feb 12 at $15.70 per share for proceeds of $52,658. The sale was a sell‑to‑cover to satisfy tax withholding related to the RSU settlement.

Key Details

• Transaction dates and prices:
  • Feb 11, 2026 — exercise/conversion of 7,120 RSU/derivative shares (reported as acquired/converted; $0 per share for RSU settlement).
  • Feb 12, 2026 — open‑market sale of 3,354 shares at $15.70 each; total proceeds $52,658.
• Shares owned after transaction: Not disclosed in the provided excerpt.
• Footnotes of note:
  • F1: Each RSU converts to 1 share upon settlement for no consideration.
  • F2: The sale was a sell‑to‑cover to satisfy tax withholding obligations and not a discretionary sale.
  • F3: RSUs vest quarterly (1/16th each quarter) beginning Nov 11, 2025, subject to continued service.
• Filing timeliness: Reported period is Feb 11, 2026 and the Form 4 was filed Feb 13, 2026 (appears to be filed in the normal Form 4 timing window).

Context

• These transactions reflect RSU settlement and routine sell‑to‑cover tax withholding rather than an independent, discretionary sale for investment reasons. The derivative code (M) here reflects conversion/settlement of RSUs (not a cash purchase of options). Sales to cover taxes are common after awards vest and do not necessarily indicate the insider’s broader view on the stock.