Venker Eric 4

What Happened
Eric Venker, President of Roivant Sciences Ltd. and CEO of Immunovant, exercised 200,000 stock options (exercise price $3.85) on Feb 13, 2026 and acquired 200,000 common shares for $770,000. Those 200,000 shares were then sold in the open market at a weighted-average price of $26.49 for gross proceeds of $5,298,000. After paying the exercise cost, the transaction generated approximately $4,528,000 in net proceeds before fees and taxes. The filing also reports the related derivative (the option) being surrendered/converted as part of the exercise.

Key Details

• Transaction date: 2026-02-13; Form 4 filed 2026-02-18 (appears to be filed after the usual 2-business-day reporting window).
• Exercise: 200,000 options @ $3.85 = $770,000 (Code M = option exercise).
• Sale: 200,000 shares sold @ weighted avg $26.49 = $5,298,000 (Code S = sale). Price range for sales: $26.35–$26.69 (footnote F1).
• Net proceeds (sale minus exercise cost): ≈ $4,528,000 before fees/taxes.
• Shares owned after the transaction: not specified in the summary provided — see the full Form 4 for post-transaction holdings.
• Footnote F2: Options originated from an award with vesting commencement 4/20/2022 (25% at first anniversary, then monthly vesting over 36 months).
• Filing timeliness: The report is dated 2/18 for a 2/13 transaction; this appears late relative to the typical 2-business-day Form 4 deadline.

Context
This was an option exercise followed by an immediate open-market sale (effectively a cashless outcome). Such exercises + immediate sales are common for executives to realize gains tied to vested option awards; they are informative about liquidity actions but do not necessarily indicate a change in view on the company. For full details (exact post-transaction ownership, any broker details, or per-price sale breakdown), consult the official Form 4 filing and the issuer’s disclosures.