[Form 4] KalVista Pharmaceuticals, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Stuart Nancy, a director of KalVista Pharmaceuticals, Inc. (KALV), was granted a stock option on 10/01/2025 to buy 30,000 shares of common stock at an exercise price of $12.05 per share. The option vests over a 12‑month period, with the first 1/12th vesting on November 1, 2025 and then monthly thereafter, subject to continued service. The option expires on 09/30/2035. After the reported transaction, the filing shows 30,000 shares beneficially owned following the grant, held directly. The Form 4 was signed by an attorney‑in‑fact, Benjamin L. Palleiko, on 10/02/2025.

Positive

• 30,000 stock option grant aligns director incentives with shareholders
• Vesting schedule begins 11/01/2025 with monthly vesting, encouraging continued service

Negative

• None.

Insights

Compensation Governance Expert

New director option: 30,000 shares at $12.05, standard one‑year vesting start

The filing documents a typical director equity grant: a non‑derivative stock option for 30,000 shares exercisable at $12.05. The vesting schedule—first 1/12th on Nov 1, 2025 then monthly—ties realized value to continued service over the next year.

This is a governance signal that the company is using equity to align a director’s incentives with shareholder value. There are no disclosed unusual acceleration clauses, cash exercises, or related party transfers in the filing.

Securities Compliance Analyst

Form 4 properly reports a director grant and ownership of 30,000 shares post‑grant

The report lists transaction date 10/01/2025, exercise price $12.05, and expiration 09/30/2035, and is executed by an attorney‑in‑fact on 10/02/2025. Ownership is shown as direct, and the filing follows Section 16 reporting format.

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

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

1. Name and Address of Reporting Person^*

Stuart Nancy

(Last) (First) (Middle)

C/O KALVISTA PHARMACEUTICALS, INC.

200 CROSSING BOULEVARD

(Street)

FRAMINGHAM MA 01702

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. 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 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

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
Stock Option (right to buy)	$12.05	10/01/2025		A		30,000		(1)	09/30/2035	Common Stock	30,000	$0	30,000	D

Explanation of Responses:

1. The option vests over a 12 month period: 1/12th on November 1, 2025, after which 1/12th of the total shares vest monthly, subject to continued service through each vesting date.

	/s/ Benjamin L. Palleiko, Attorney-in-Fact	10/02/2025
	** 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 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.

FAQ

What did KalVista (KALV) director Stuart Nancy receive on 10/01/2025?

He received a stock option to buy 30,000 shares at an exercise price of $12.05 per share.

When does the option granted to Stuart Nancy begin vesting?

Vesting begins on November 1, 2025 with 1/12th of the option vesting then and monthly thereafter over 12 months.

What is the expiration date for the option grant reported on the Form 4?

The option expires on 09/30/2035.

How many shares does Stuart Nancy beneficially own after the reported transaction?

The Form 4 shows 30,000 shares beneficially owned following the grant, held directly.

Who signed the Form 4 for this transaction?

The Form 4 was signed by attorney‑in‑fact Benjamin L. Palleiko on 10/02/2025.