KALV Executive Disclosure: 180k RSUs and 100k-Share Option Detailed

Rhea-AI Filing Summary

Nicole Sweeny filed an initial Form 3 reporting her beneficial ownership in KalVista Pharmaceuticals, Inc. (KALV) in her role as Chief Commercial Officer and a director. She holds 100,000 RSUs granted with a vesting schedule that begins May 21, 2025, vesting 1/16th quarterly, and 80,000 RSUs granted with a vesting schedule that began August 22, 2024, vesting 1/16th quarterly. She also holds an employee stock option on 100,000 shares with a stated exercise price of $9.51 and a listed date of 07/24/2033 in the derivative table. The RSUs are described as contingent rights to receive one share upon settlement for no consideration. The Form 3 is signed by an attorney-in-fact, Benjamin Palleiko, dated 08/25/2025.

Positive

• Clear disclosure of equity awards including exact share counts for RSUs (100,000 and 80,000) and a 100,000-share option
• Defined vesting schedules provided for both RSU grants, improving transparency on when shares may vest
• RSUs settle for no consideration, meaning each RSU represents a right to one share upon settlement

Negative

• None.

Insights

Financial Analyst

TL;DR: Executive equity grants documented; positions are typical compensation and retention instruments without immediate dilution details.

The filing records standard equity-based compensation for a senior officer and director: two restricted stock unit awards totaling 180,000 RSUs with defined quarterly vesting schedules and a 100,000-share employee stock option with a specified exercise price of $9.51. The RSUs are described as contingent rights to receive common shares upon settlement for no consideration. The filing does not disclose current outstanding share count, aggregate ownership percentage, or market context, which limits assessment of potential dilution or immediate economic value.

Corporate Governance Expert

TL;DR: Governance disclosure is routine; vesting schedules align officer incentives with continued service.

The Form 3 appropriately discloses the officer's holdings and vesting mechanics, showing multi-year retention incentives via quarterly vesting and a time-vested option. The explicit vesting dates and settlement terms for RSUs improve transparency for shareholders. The document does not provide additional governance context such as grant committee approvals or total outstanding equity, so material governance implications remain limited in this filing alone.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

Sweeny Nicole

(Last) (First) (Middle)

C/O KALVISTA PHARMACEUTICALS, INC.

55 CAMBRIDGE PARKWAY, SUITE 901E

(Street)

CAMBRIDGE MA 02142

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/18/2025

3. Issuer Name and Ticker or Trading Symbol
KalVista Pharmaceuticals, Inc. [ KALV ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Commercial Officer

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

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

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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	(1)	(1)	Common Stock	100,000	$0(2)	D
Restricted Stock Unit	(3)	(3)	Common Stock	80,000	$0(2)	D
Employee Stock Option	(4)	07/24/2033	Common Stock	100,000	$9.51	D

Explanation of Responses:

1. 1/16th of the total number of shares subject to the Restricted Stock Unit ("RSU") shall vest on each quarterly anniversary of the Vesting Commencement Date commencing on May 21, 2025, subject to continued service through each vesting date.

2. Each RSU represents a contingent right to receive 1 share of the Issuer's Class A Common Stock upon settlement for no consideration.

3. 1/16th of the total number of shares subject to the RSU shall vest on each quarterly anniversary of the Vesting Commencement Date commencing on August 22, 2024, subject to continued service through each vesting date.

4. The option vests over a 4 year period: 25% on June 24, 2024, after which 1/48th of the total shares vest monthly, subject to continued service through each vesting date.

	/s/ Benjamin Palleiko, Attorney-in-Fact	08/25/2025
	** 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 5 (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.
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FAQ

What equity does Nicole Sweeny report owning in KALV?

She reports 100,000 RSUs, 80,000 RSUs, and a 100,000-share employee stock option with a stated exercise price of $9.51.

When do Sweeny's RSUs begin vesting?

One RSU grant begins vesting on May 21, 2025 with 1/16th vesting each quarterly anniversary; the other began vesting on August 22, 2024 with 1/16th quarterly vesting.

What is the exercise price and listed date for the reported option?

The Form lists an employee stock option covering 100,000 shares with an exercise price of $9.51 and a date shown as 07/24/2033 in the derivative table.

Do the RSUs require payment upon settlement?

No. The filing states each RSU represents a contingent right to receive 1 share for no consideration upon settlement.

Who signed the Form 3 and when was it signed?

The filing is signed by attorney-in-fact Benjamin Palleiko dated 08/25/2025.