Yea Christopher 4

What Happened Christopher Yea, Chief Development Officer of KalVista Pharmaceuticals (KALV), reported dispositions on 2026-06-11 totaling 640,088 shares. These disposals include 229,918 shares of common stock and multiple derivative awards (stock options and RSUs) that were converted and paid out in connection with KalVista’s merger with Chiesi Farmaceutici. Per the merger terms, the cash Merger Consideration was $27.00 per share, so the aggregate cash consideration is approximately $17,282,376 before any applicable tax withholding (see footnotes F1, F3, F7).

Key Details

• Transaction date: 2026-06-11 (reported same day).
• Total shares/derivative units disposed: 640,088.
• Merger cash price: $27.00 per share (Merger Consideration) — gross proceeds ≈ $17.28M, subject to tax withholding (F1, F7).
• Breakdown: 229,918 common shares + 410,170 shares equivalent from cancelled/converted options and RSUs (listed as derivative dispositions).
• Options: fully vested options that had exercise prices below $27 were cancelled and converted to cash per merger formula; options with exercise prices ≥ $27 were cancelled for no consideration (F2, F3).
• RSUs: outstanding RSUs were accelerated/converted into cash equal to $27.00 × number of shares subject to the RSUs (F5, F7).
• Filing timeliness: transaction and filing dated 2026-06-11 (no late filing flag provided).
• Shares owned after the transaction: not stated in the provided filing excerpt.

Context

• This was not an open-market sale but a cash-out under the company’s merger agreement — common when a company is acquired. The derivative entries reflect cancellation/conversion of options and RSUs into cash rather than a market sale of newly issued shares.
• Such merger-driven dispositions are routine and reflect contract terms (not necessarily a personal trading decision). As always, use insider sales as one data point among broader fundamentals and merger terms.