Audhya Paul K. 4

What Happened

• Audhya Paul, Chief Medical Officer of KalVista Pharmaceuticals, had 6,250 restricted stock units (RSUs) settle on April 16, 2026 (recorded as conversion/exercise of a derivative). In connection with the settlement, 6,250 RSU-related shares were recorded as disposed at $0 (derivative withholding) and on April 17, 2026 she sold 2,686 shares in an open-market transaction at $20.22 each for proceeds of $54,301.
• This activity appears to be routine tax-related handling of newly vested RSUs (i.e., sell-to-cover), not a discretionary investment purchase.

Key Details

• Transaction dates and prices:
  • 2026-04-16: RSU settlement / conversion reported for 6,250 shares (acquired).
  • 2026-04-16: 6,250 RSU-related shares recorded as disposed at $0.00 (derivative).
  • 2026-04-17: Open-market sale of 2,686 shares at $20.22 each, totaling $54,301.
• Shares owned after the transaction: Not disclosed in this filing excerpt.
• Notable footnotes:
  • F1: Each RSU represents the right to receive 1 share upon settlement for no consideration.
  • F2: The open-market sale was a "sell to cover" transaction to satisfy tax withholding obligations and was not a discretionary sale by the reporting person.
  • F3: The RSUs vest quarterly (1/16th each quarter) beginning April 16, 2026, subject to continued service.
• Filing timeliness: No late filing indication shown in the provided data.

Context

• This filing reflects RSU settlement and routine tax-withholding activity. The combination of derivative entries (RSU settlement/withholding) and a small open-market sale is typical when insiders have equity awards vest and elect (or the company applies) share withholding or sell-to-cover to pay taxes.
• Such sell-to-cover transactions do not necessarily signal the insider's view on the company's stock; they are often procedural. Purchases (not present here) tend to be more indicative of bullish insider sentiment.