Pelish Henry E. 4

What Happened

• Henry E. Pelish, Chief Scientific Officer of Nuvalent, exercised 3,093 stock options on Apr 9, 2026 at an exercise price of $27.85 per share (cost $86,140). He then sold those 3,093 shares in open-market transactions the same day for aggregate proceeds of about $323,164 (2,193 shares at a weighted avg ~$104.27 and 900 shares at a weighted avg $105.00). This sequence (exercise followed by sale) is effectively a cashless exercise and sale — the exercise acquired shares which were then sold.

Key Details

• Date of transactions: April 9, 2026
• Exercise: 3,093 shares at $27.85 each — total exercise cost $86,140 (code M)
• Sales: 2,193 shares at weighted avg $104.27 (range $103.89–$104.64); 900 shares at weighted avg $105.00 (range $104.97–$105.08) — combined proceeds ≈ $323,164 (code S)
• Net proceeds minus exercise cost (approx.): $323,164 − $86,140 ≈ $237,024 (before taxes/fees)
• Shares owned after transaction: not specified in the information provided in this summary
• Footnotes of note:
  • F1: Sales were effected under a Rule 10b5-1 trading plan adopted Dec 11, 2025.
  • F2/F3: Reported sale prices are weighted averages; underlying per-trade price ranges are provided and the filer will disclose per-price sale counts on request.
  • F4: The underlying option vests monthly over four years beginning Jan 6, 2023 (subject to service).
• Filing timeliness: Transaction date Apr 9, 2026; Form 4 filed Apr 13, 2026 — this filing appears to meet the typical two-business-day Form 4 deadline.

Context

• This was an option exercise followed by an immediate sale (cashless exercise). That means Pelish converted options into shares and then sold those shares the same day — a routine liquidity event for option holders and not by itself a directional endorsement of the stock.
• Transaction codes: M = option exercise/conversion, S = sale. The presence of a 10b5-1 plan indicates the sales were pre-planned according to that trading program.