Audhya Paul K. 4

What Happened

• Audhya Paul K., Chief Medical Officer of KalVista Pharmaceuticals (KALV), had restricted stock units (RSUs) settle on May 17, 2026, converting to 2,419 shares. Following the settlement, 1,032 shares were sold in an open‑market "sell to cover" transaction on May 18, 2026, at $26.76 per share for proceeds of $27,616. The Form 4 also records a 2,419‑share disposition at $0 in connection with the derivative settlement (see footnotes).

Key Details

• Transaction dates and prices:
  • 2026-05-17: RSU conversion/derivative settlement — 2,419 shares acquired (footnote F1).
  • 2026-05-17: Related derivative disposition — 2,419 shares disposed at $0 (reported as part of settlement).
  • 2026-05-18: Open‑market sale — 1,032 shares at $26.76 each, total $27,616 (footnote F2).
• Shares owned after the transaction: Not disclosed in the Form 4 filing.
• Footnotes of note:
  • F1: Each RSU represents a right to one share upon settlement for no consideration.
  • F2: The May 18 sale was to satisfy tax‑withholding obligations (a "sell to cover"), not a discretionary sale.
  • F3: RSUs vest 1/16th quarterly from the vesting commencement date.
• Filing timeliness: Form filed May 19, 2026 (reporting period May 17, 2026) — appears timely (filed within standard Form 4 window).

Context

• This was not a market‑timed purchase; it was the settlement of RSUs with subsequent sell‑to‑cover for taxes. The derivative entries reflect RSU conversion and related share withholding/sale for tax obligations rather than an independent investment decision.