Balcom Alexandra 4

What Happened
Alexandra Balcom, Chief Financial Officer of Nuvalent, exercised fully vested stock options for a total of 11,430 shares (7,159 shares at $1.08 and 4,271 shares at $6.89), paying approximately $37,159 to exercise. On the same day (May 1, 2026) she sold all 11,430 shares in open-market transactions for aggregate proceeds of about $1,131,600 (three weighted-average sale prices: $98.42, $99.29 and $99.97).

Key Details

• Transaction date: May 1, 2026; Form 4 filed May 5, 2026 (filed within the normal two-business-day window for a May 1 transaction).
• Option exercises: 7,159 shares @ $1.08 (cost $7,732) and 4,271 shares @ $6.89 (cost $29,427). Footnote: the options underlying these shares are fully vested.
• Market sales: 3,872 shares @ $98.42 (WAP), 7,434 shares @ $99.29 (WAP), and 124 shares @ $99.97 (WAP); total proceeds ≈ $1,131,600. The sale prices were reported as weighted averages with ranges: $97.84–$98.83; $98.85–$99.80; and $99.86–$100.36.
• Plan/authorization: Sales were effected under a Rule 10b5-1 trading plan adopted December 23, 2025.
• Shares owned after the transaction: Not disclosed in this Form 4.

Context

• This was effectively a cashless exercise: Balcom exercised options and the resulting shares were sold the same day (all 11,430 shares sold), which is a routine way for insiders to convert option value to cash and is not necessarily a signal about company prospects.
• The presence of a 10b5-1 plan means the trades were pre-scheduled, reducing the likelihood they were timed based on nonpublic information.