Palleiko Benjamin L 4

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.