Palleiko Benjamin L 4
4 · KalVista Pharmaceuticals, Inc. · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
KalVista CEO Benjamin Palleiko Sells Shares After RSU Vest
What Happened
Benjamin L. Palleiko, CEO of KalVista Pharmaceuticals (KALV), had 2,419 restricted stock units (RSUs) settle into common shares on Feb 17, 2026, and sold 1,038 shares in an open-market "sell to cover" transaction on Feb 18, 2026, at $15.00 each for proceeds of $15,570. The RSU settlement converted derivative awards into 2,419 shares (no cash paid on conversion). Net effect of these transactions: +1,381 shares (2,419 acquired via settlement minus 1,038 sold).
Key Details
- Transaction dates: RSU settlement/exercise (conversion) on 2026-02-17; sale on 2026-02-18. Filing date: 2026-02-19 (appears timely).
- Sale details: 1,038 shares sold at $15.00 — total proceeds $15,570.
- RSU conversion: 2,419 shares acquired via conversion/settlement of RSUs (reported as derivative exercise/convert).
- Shares owned after transaction: not specified in the provided excerpt of the filing.
- Footnotes: F1 — each RSU converts to one share for no consideration; F2 — the sale was a "sell to cover" to satisfy tax withholding (not a discretionary sale); F3 — RSUs vest 1/16th quarterly from the vesting commencement date.
- Transaction codes: M = exercise/conversion of derivative (RSU settlement); S = sale. F = tax withholding (the sale was to cover taxes).
Context
This was primarily a routine RSU settlement with a sell-to-cover for tax withholding rather than a discretionary stock sale; such transactions are common following vesting and do not necessarily indicate the insider's market view. The conversion increased Palleiko’s net share position by 1,381 shares after the tax-related sale.
Insider Transaction Report
- Sale
Common Stock
[F2]2026-02-18$15.00/sh−1,038$15,570→ 429,667 total - Exercise/Conversion
Common Stock
[F1]2026-02-17+2,419→ 430,705 total - Exercise/Conversion
Restricted Stock Unit
[F1][F3]2026-02-17−2,419→ 2,419 total→ Common Stock (2,419 underlying)
Footnotes (3)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- [F2]The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs. The sale was to satisfy tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.
- [F3]1/16th of the total number of shares subject to the RSU shall vest on each quarterly anniversary of the Vesting Commencement Date, subject to continued service through each vesting date.