Venker Eric 4

What Happened

• Eric Venker, President of Roivant Sciences Ltd. and CEO of Immunovant, exercised 200,000 option shares (reported 2026-05-22) at an exercise price of $3.85 ($770,000) and sold 200,000 common shares in an open market sale on the same day for a total of about $6,054,000 (weighted average sale price $30.27).
• In a separate 2026-05-20 transaction he had 34,483 RSUs net-settled by the company to satisfy tax withholding obligations (disposed at a reported weighted average price of $32.41 for $1,117,594).
• The filing also shows a derivative line for 200,000 shares at $0.00 (see footnote) reflecting a fully vested stock option award.

Key Details

• Transaction dates: RSU net-settlement 2026-05-20; option exercise and sale 2026-05-22.
• Exercise: 200,000 shares @ $3.85 = $770,000 (cash paid to exercise).
• Sale: 200,000 shares sold @ weighted avg $30.27 = $6,054,000 (sales executed at prices from $30.00–$30.55 per footnote).
• RSU tax withholding: 34,483 shares net-settled @ $32.41 = $1,117,594 (routine tax withholding).
• Footnotes: F1 = net settlement of RSUs for tax withholding; F2 = sale price is a weighted average (range $30.00–$30.55); F3 = reflects fully vested stock option award.
• Shares owned after the transactions: not specified in this filing.
• Filing timeliness: filing dated 2026-05-22 for transactions on 5/20 and 5/22 — the filing shows no late-filing flag.

Context

• This sequence (exercise of options followed by immediate sale of the acquired shares) is commonly a cashless/cash-out exercise: the insider exercised options (paid the exercise cost) and sold shares the same day, realizing the spread between exercise price and market price.
• The RSU net-settlement to cover taxes is a routine administrative step and is not typically a directional signal about the insider’s view of the company.