Pelish Henry E. 4

What Happened
Henry E. Pelish, Chief Scientific Officer of Nuvalent, exercised several stock option tranches on March 12, 2026, acquiring 17,320 shares for aggregate option exercise cost of $545,872 (strikes shown at $18.93, $27.85, $29.33 and $72.35). He then sold a total of 35,104 shares in open-market transactions on March 12–13, 2026 for aggregate proceeds of about $3,442,857 (sales reported at weighted-average prices in the $97–$100 range). The sales were effected pursuant to a Rule 10b5-1 trading plan adopted December 11, 2025.

Key Details

• Transaction dates: Exercises on 2026-03-12; open-market sales on 2026-03-12 and 2026-03-13. Filing date: 2026-03-16 (filed on time).
• Options exercised/paid: 17,320 shares; total exercise cost reported $545,872.
• Shares sold: 35,104 shares; total proceeds reported ~$3,442,857. Reported sale prices are weighted averages with transaction ranges (approx. $97.08–$100.14 across different sale lots; see footnotes F2–F6 for exact ranges).
• Derivative entries at $0 reflect conversion/settlement of the options into common shares upon exercise (these are not separate cash sales).
• Filing notes: transactions effected under a 10b5-1 plan (F1). Various options include differing vesting schedules per the filing footnotes (F7–F10).
• Shares owned after the transactions: not specified in the provided filing excerpt.

Context
This was an options exercise followed by open-market sales (common pattern when insiders exercise options and immediately sell some or all shares to cover exercise costs and taxes). Sales under a pre-established 10b5-1 plan are generally automatic and do not necessarily indicate a change in the insider’s view of the company. The Form 4 was filed within the required two business days, so the report is timely.