Audhya Paul K. 4

What Happened

• Audhya Paul K., Chief Medical Officer of KalVista Pharmaceuticals (KALV), had 2,419 restricted stock units (RSUs) settle into common shares on Feb 17, 2026 (settlement at $0 per share). On Feb 18, 2026 she sold 1,163 of those shares in an open-market "sell to cover" transaction at $15.00 per share, generating $17,445. This was not a purchase; it was a routine sale to satisfy tax withholding tied to RSU settlement.

Key Details

• Transaction dates: RSU settlement/exercise reported Feb 17, 2026; sale reported Feb 18, 2026; Form 4 filed Feb 19, 2026 (appears timely).
• Settlement/exercise: 2,419 RSUs converted to 2,419 common shares at $0.00 (no cash paid on conversion).
• Sale: 1,163 shares sold at $15.00 each for proceeds of $17,445.
• Net shares retained from this event: 2,419 settled − 1,163 sold = 1,256 shares remaining from this vesting (based on reported transactions).
• Footnotes: F1 — each RSU converts to 1 share on settlement for no consideration; F2 — the sale was a sell-to-cover to satisfy tax withholding and was not a discretionary trade by the reporting person; F3 — the RSUs vest 1/16th each quarterly.
• Shares owned after transaction: not explicitly stated in the provided excerpt; net retained from this settlement shown above.

Context

• These entries reflect RSU settlement and a routine sell-to-cover for taxes (a common post-vesting action), not a separate market-timed sell for investment reasons. RSU settlement at $0 means the award converted into shares rather than an option exercise requiring cash. For full ownership totals and additional context, consult the complete Form 4 filing (Accession 0001860131-26-000002).