Yea Christopher 4

What Happened

• Christopher Yea, Chief Development Officer of KalVista Pharmaceuticals (KALV), exercised 33,800 vested stock options on 2026-05-27 at an exercise price of $7.07 (total exercise cost ~$238,966) and sold 33,800 common shares the same day for a weighted-average price of $26.78, generating roughly $905,225 in gross proceeds. The filing also records the derivative conversion associated with the exercise (reported as disposed at $0).

Key Details

• Transaction date: 2026-05-27.
• Option exercise: 33,800 shares @ $7.07 = $238,966 (footnote: option 100% vested and exercised).
• Sale: 33,800 shares sold @ weighted avg $26.78 (prices ranged $26.78–$26.79) = $905,225 (footnote: weighted-average price; multiple sale prices in that range).
• Net proceeds before taxes/fees (sale proceeds minus exercise cost): approximately $666,259.
• Shares owned after the transactions: not specified in the disclosed filing excerpt.
• Filing: Report filed 2026-05-29 for transactions on 2026-05-27 — filed within the typical two-business-day Form 4 window (appears timely).

Context

• This sequence (exercise of vested options followed by immediate sale of the acquired shares) functions effectively as a cashless exercise: the insider converted options into shares and then sold those shares the same day to realize cash.
• Sales after option exercises are commonly routine liquidity events for executives and do not alone indicate management’s view of the company’s prospects. Purchases by insiders tend to be more informative about bullish sentiment.