Balcom Alexandra 4

What Happened
Alexandra Balcom, Chief Financial Officer of Nuvalent, exercised 11,430 option-derived shares and immediately sold those 11,430 shares in three open-market transactions on April 1, 2026. She acquired the shares via exercise at $1.08 per share (cost $12,344) and sold them in blocks for total gross proceeds of $1,202,526 — net of the exercise cost, roughly $1.19M in proceeds. These sales are reported as routine dispositions rather than new purchases.

Key Details

• Transaction date: April 1, 2026; Form 4 filed April 3, 2026 (timely filing).
• Exercise (M): 11,430 shares acquired at $1.08 each (reported cost $12,344). Footnote F5: underlying option fully vested.
• Sales (S): 3,544 shares at weighted avg $104.39 (prices ranged $103.81–$104.79) = $369,958 (F2); 5,417 shares at weighted avg $105.30 (range $104.84–$105.83) = $570,410 (F3); 2,469 shares at weighted avg $106.18 (range $105.85–$106.69) = $262,158 (F4). Total proceeds = $1,202,526.
• Reported plan: Transactions effected pursuant to a Rule 10b5-1 trading plan adopted Dec 23, 2025 (F1).
• Shares owned after transaction: Not specified in the excerpted filing provided.
• Filing timeliness: Not marked late; filing date is Apr 3 for Apr 1 trades.

Context
This is an exercise-and-sale (commonly a cashless exercise) where options were converted into shares and those shares were sold the same day — a routine way for insiders to monetize vested options. The presence of a 10b5-1 plan indicates the sales were pre-scheduled; such sales are typically considered routine and do not, by themselves, indicate insider sentiment about the company’s prospects.