Audhya Paul K. 4

4 · KalVista Pharmaceuticals, Inc. · Filed May 27, 2026

AI-generated summary of this filing

Updated May 27, 2026

KalVista (KALV) CMO Audhya Paul Sells Shares

What Happened

Audhya Paul, Chief Medical Officer of KalVista Pharmaceuticals (KALV), reported the vesting/settlement of 5,000 restricted stock units (RSUs) on 2026-05-22 and an open-market sale of 2,239 shares on 2026-05-26. The sale generated proceeds of $59,955 (2,239 shares × $26.78).
The filing shows two derivative-related entries for 5,000 shares on 2026-05-22 (exercise/conversion type "M") and a separate sale on 2026-05-26 (sale type "S"). The derivative entry at $0 reflects settlement/conversion of RSUs into common stock rather than a paid purchase.

Key Details

Transaction dates and amounts:
- 2026-05-22: RSU settlement/conversion of 5,000 shares (derivative entry; $0 listed).
- 2026-05-26: Open-market sale of 2,239 shares at $26.78 each; proceeds $59,955.
Shares owned after the transactions: not specified in the provided filing excerpt.
Footnotes:
- F1: Each RSU converts to one share upon settlement for no consideration.
- F2: The 2,239-share sale was a "sell-to-cover" to satisfy tax withholding on the RSU settlement and was not a discretionary trade.
- F3: RSUs vest quarterly (1/16th each quarter) beginning Aug 22, 2024, subject to continued service.
Filing/timeliness: Form lists a report period date of 2026-05-22 and was filed 2026-05-27. Form 4s are normally due within two business days of the transaction; the 5/22 settlement was reported one business day after that typical deadline.

Context

This was not a market-timed purchase by the insider. It reflects RSU settlement (award conversion) followed by a routine sell-to-cover to pay taxes — a common, non-discretionary insider transaction. Such tax-withholding sales generally do not indicate a change in the insider's investment view.

Form 4

Period: 2026-05-22

CHIEF MEDICAL OFFICER

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-05-22+5,000→ 152,499 total
Sale
Common Stock
[F2]
2026-05-26$26.78/sh−2,239$59,955→ 150,260 total
Exercise/Conversion
Restricted Stock Unit
[F1][F3]
2026-05-22−5,000→ 40,000 total
→ Common Stock (5,000 underlying)

Footnotes (3)

[F1]Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
[F2]The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs. The sale was to satisfy tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.
[F3]1/16th of the total restricted stock units subject to the Award shall vest on each quarterly anniversary of the Vesting Commencement Date commencing on August 22, 2024, subject to continued service through each vesting date.

Signature

/s/ Benjamin L. Palleiko, Attorney-in-Fact|2026-05-27

1 file