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

Rhea-AI Filing Summary

KalVista Pharmaceuticals' (KALV) Chief Medical Officer reported equity activity involving restricted stock units and related share sales. On 11/17/2025, 6,447 shares of common stock were acquired through the vesting and settlement of restricted stock units, increasing direct holdings to 128,952 shares. On 11/18/2025, 3,075 shares were sold at a weighted average price of $14.4795 per share to cover tax withholding obligations from the RSU vesting, a non-discretionary "sell to cover" transaction, leaving 125,877 shares directly owned.

The filing also shows RSU awards converting into 2,419 and 4,028 shares of common stock at a conversion price of $0 per RSU. One RSU grant vests in 1/16th increments each quarterly anniversary of its vesting commencement date, and another in 1/12th quarterly increments, in each case conditioned on continued service.

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

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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).

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^*

Audhya Paul K.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/17/2025

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
Common Stock	11/17/2025		M		6,447	A	(1)	128,952	D
Common Stock	11/18/2025		S(2)		3,075	D	$14.4795(3)	125,877	D

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
Restricted Stock Unit	(1)	11/17/2025		M			2,419	(4)	(4)	Common Stock	2,419	$0	4,838	D
Restricted Stock Unit	(1)	11/17/2025		M			4,028	(5)	(5)	Common Stock	4,028	$0	0	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.

2. The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs. The sale was to satisfy tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.

3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.1654 to $14.4835 per share, inclusive. 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. 1/16th of the total number of shares subject to the RSU shall vest on each quarterly anniversary of the Vesting Commencement Date, subject to continued service through each vesting date.

5. 1/12th of the total number of shares subject to the RSU shall vest on each quarterly anniversary of the Vesting Commencement Date, subject to continued service through each vesting date.

	/s/ Benjamin L. Palleiko, Attorney-in-Fact	11/19/2025
	** 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 insider transaction did KalVista (KALV) report on this Form 4?

The Chief Medical Officer of KalVista Pharmaceuticals (KALV) reported RSU vesting into common stock and a subsequent sale of shares to cover tax withholding obligations related to that vesting.

How many KalVista (KALV) shares did the CMO acquire and sell?

On 11/17/2025, the CMO acquired 6,447 shares of common stock from RSU settlements. On 11/18/2025, 3,075 shares were sold in a weighted average transaction at $14.4795 per share.

How many KalVista (KALV) shares does the CMO own after these transactions?

Following the RSU-related acquisition and the tax-related sale, the CMO directly owns 125,877 shares of KalVista Pharmaceuticals common stock.

Was the KalVista (KALV) share sale a discretionary trade by the CMO?

No. The filing states the 3,075-share sale was executed to cover tax withholding obligations using a "sell to cover" method and does not represent a discretionary transaction by the reporting person.

What are the vesting terms of the KalVista (KALV) RSU awards in this Form 4?

One RSU award vests in 1/16th increments on each quarterly anniversary of the vesting commencement date, and another vests in 1/12th increments quarterly, both subject to continued service.

What does each KalVista (KALV) RSU represent in this filing?

Each restricted stock unit represents a contingent right to receive 1 share of KalVista Pharmaceuticals common stock upon settlement for no cash consideration.