Cadrenal (NASDAQ: CVKD) CEO sells 22,385 shares but keeps large stake

Rhea-AI Filing Summary

Cadrenal Therapeutics, Inc. Chairman, CEO and Interim CFO Quang X Pham reported open-market sales of a total of 22,385 shares of common stock over three days. Shares were sold at weighted average prices of about $4.38 on June 8, $4.06 on June 9, and $4.21 on June 10, in transactions described as carried out under a Rule 10b5-1 trading arrangement adopted on September 25, 2025. Following these sales, Pham holds 150,839 shares directly and 200,000 shares indirectly through The PVBQ Living Trust, for which he has sole voting and dispositive power.

Insights

Insider trading analyst

Cadrenal’s CEO executed pre-planned share sales while retaining a substantial stake.

Cadrenal Therapeutics’ Chairman, CEO and Interim CFO, Quang X Pham, reported selling 22,385 common shares in open-market transactions at weighted average prices between about $4.03 and $4.51. These sales were made pursuant to a Rule 10b5-1 trading arrangement adopted on September 25, 2025, indicating they were pre-planned rather than timed opportunistically.

After the transactions, Pham still directly owns 150,839 shares and indirectly holds 200,000 shares through The PVBQ Living Trust, where he has sole voting and dispositive power. This filing shows some liquidity-taking but also a meaningful remaining ownership position. Future company filings may provide additional context on any further plan-driven sales or changes in his holdings.

Insider Trade Summary 10b5-1

Net Seller: 22,385 shares ($93,294)

Net Sell 4 txns

Insider Pham Quang X

Role Chairman, CEO and Interim CFO

Sold 22,385 shs ($93K)

Type	Security	Shares	Price	Value
Sale	Common Stock	3,500	$4.21	$15K
Sale	Common Stock	12,992	$4.06	$53K
Sale	Common Stock	5,893	$4.38	$26K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 150,839 shares (Direct, null); Common Stock — 200,000 shares (Indirect, The PVBQ Living Trust)

Footnotes (1)

1. Represents shares of the Issuer's common stock sold by the Reporting Person in accordance with a Rule 10b5-1 trading arrangement adopted by the Reporting Person on September 25, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.20 through $4.51. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.03 through $4.34. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.20 through $4.23. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. Quang Pham is the Trustee of The PVBQ Living Trust and has sole voting and dispositive power with respect to the shares owned by The PVBQ Trust, of which Mr. Pham's child is the sole beneficiary.

Key Figures

Total shares sold: 22,385 shares June 8 weighted average price: $4.38 per share June 9 weighted average price: $4.06 per share +3 more

6 metrics

Total shares sold 22,385 shares Open-market sales on June 8–10, 2026

June 8 weighted average price $4.38 per share Open-market sale on June 8, 2026

June 9 weighted average price $4.06 per share Open-market sale on June 9, 2026

June 10 weighted average price $4.21 per share Open-market sale on June 10, 2026

Direct holdings after sales 150,839 shares Common stock held directly after June 10, 2026

Indirect trust holdings 200,000 shares Common stock held via The PVBQ Living Trust

Key Terms

Rule 10b5-1 trading arrangement, weighted average price, dispositive power, open-market sale

4 terms

Rule 10b5-1 trading arrangement regulatory

"shares of the Issuer's common stock sold by the Reporting Person in accordance with a Rule 10b5-1 trading arrangement"

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

dispositive power financial

"has sole voting and dispositive power with respect to the shares owned by The PVBQ Trust"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Pham Quang X

(Last) (First) (Middle)

C/O CADRENAL THERAPEUTICS, INC.

822 A1A NORTH, SUITE 306

(Street)

PONTE VEDRA FLORIDA 32082

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Cadrenal Therapeutics, Inc. [ CVKD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman, CEO and Interim CFO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/08/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/08/2026		S		5,893(1)	D	$4.38(2)	167,331	D
Common Stock	06/09/2026		S		12,992(1)	D	$4.06(3)	154,339	D
Common Stock	06/10/2026		S		3,500(1)	D	$4.21(4)	150,839	D
Common Stock								200,000	I	The PVBQ Living Trust(5)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares of the Issuer's common stock sold by the Reporting Person in accordance with a Rule 10b5-1 trading arrangement adopted by the Reporting Person on September 25, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.20 through $4.51. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.03 through $4.34. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.20 through $4.23. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. Quang Pham is the Trustee of The PVBQ Living Trust and has sole voting and dispositive power with respect to the shares owned by The PVBQ Trust, of which Mr. Pham's child is the sole beneficiary.

	/s/ Quang X. Pham	06/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

How many Cadrenal Therapeutics (CVKD) shares did the CEO sell in this Form 4?

The CEO reported selling a total of 22,385 Cadrenal Therapeutics (CVKD) common shares across three open-market transactions. The reported weighted average prices ranged from about $4.03 to $4.51 per share over the disclosed trading dates.

On which dates did Cadrenal Therapeutics (CVKD) CEO Quang Pham sell shares?

Quang Pham’s reported share sales for Cadrenal Therapeutics (CVKD) occurred on June 8, 2026, June 9, 2026, and June 10, 2026. Each transaction involved open-market sales of common stock at different weighted average prices disclosed in the filing.

Were the Cadrenal Therapeutics (CVKD) insider sales made under a Rule 10b5-1 plan?

Yes. The filing states the reported sales of Cadrenal Therapeutics (CVKD) shares were made under a Rule 10b5-1 trading arrangement adopted by Quang Pham on September 25, 2025. Such plans pre-schedule trades, reducing the significance of trade timing.

How many Cadrenal Therapeutics (CVKD) shares does the CEO still own after these sales?

After the reported sales, Quang Pham directly owns 150,839 CVKD shares and indirectly holds 200,000 shares through The PVBQ Living Trust. He has sole voting and dispositive power over the trust’s shares, indicating continued significant exposure.

What prices were received for the Cadrenal Therapeutics (CVKD) shares sold by the CEO?

The filing reports weighted average prices for each sale date: about $4.38 per share on June 8, $4.06 on June 9, and $4.21 on June 10. Actual trades occurred in ranges between $4.03 and $4.51 per share.