Venker Eric 4

What Happened
Eric Venker, President of Roivant Sciences Ltd. and CEO of Immunovant, exercised 200,000 stock options on June 24, 2026 at $3.85 per share (total cost $770,000) and sold a total of 200,000 common shares in two open‑market transactions the same day for aggregate proceeds of about $6,631,267 (153,766 shares for $5,081,966 and 46,234 shares for $1,549,301). The Form 4 also reports a separate 200,000‑share "Derivative" disposal at $0.00; the filing does not explicitly explain that line.

Key Details

• Transaction date: June 24, 2026; Form 4 filed June 26, 2026 (timely filing).
• Option exercise: 200,000 shares acquired at $3.85 each — $770,000 cash paid.
• Open‑market sales: 153,766 shares at a weighted avg ~$33.05 (range $32.23–$33.22; see F1) and 46,234 shares at a weighted avg ~$33.51 (range $33.23–$33.98; see F2); total proceeds ≈ $6.63M.
• Reported a 200,000‑share derivative disposal at $0.00 (listing as "Disposed" of derivative). The form’s footnote F3 notes the options were fully vested; the filing does not detail why the $0.00 line appears.
• Shares owned after these transactions: not provided in the supplied filing excerpt.
• No 10b5‑1 plan or tax‑withholding plan is specified in the provided notes.

Context

• This pattern — exercising options and then selling the resulting shares — is commonly a cashless or partial cash exercise plus sale to realize value and/or cover the exercise cost and taxes. The filing does not label the transactions as a 10b5‑1 plan.
• Sales are often routine and do not by themselves indicate a change in executive view; purchases are generally considered more informative about bullish conviction.