KalVista (NASDAQ: KALV) CFO details RSU vesting and sell-to-cover sale

Rhea-AI Filing Summary

KalVista Pharmaceuticals Chief Financial Officer Brian Piekos reported RSU vesting and a related tax sale. On February 21, 2026, he acquired 5,000 shares of Common Stock at $0.00 per share through the exercise and settlement of 5,000 Restricted Stock Units, each RSU converting into one share for no consideration. On February 23, 2026, he sold 1,767 shares of Common Stock in open-market transactions at a weighted-average price of $15.5668 per share to cover tax withholding obligations under a non-discretionary sell-to-cover arrangement. Following these transactions, he directly held 13,762 shares of Common Stock and 60,000 RSUs.

Insider Trade Summary

Net Seller: 1,767 shares ($27,507)

Net Sell 3 txns

Insider Piekos Brian

Role Chief Financial Officer

Sold 1,767 shs ($28K)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,767	$15.5668	$28K
Exercise	Restricted Stock Unit	5,000	$0.00	--
Exercise	Common Stock	5,000	$0.00	--

Holdings After Transaction: Common Stock — 13,762 shares (Direct); Restricted Stock Unit — 60,000 shares (Direct)

Footnotes (1)

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. 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. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.5253 to $15.56698 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. 3/16th of the total number of shares underlying the RSUs vested on November 21, 2025 and 1/16 shall vest on each quarterly anniversary of the Vesting Commencement Date thereafter, for so long as grantee's Service (as defined in the Plan) does not terminate.

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

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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^*

Piekos Brian

(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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/21/2026

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	02/21/2026		M		5,000	A	(1)	15,529	D
Common Stock	02/23/2026		S(2)		1,767	D	$15.5668(3)	13,762	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)	02/21/2026		M			5,000	(4)	(4)	Common Stock	5,000	$0	60,000	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 $15.5253 to $15.56698 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. 3/16th of the total number of shares underlying the RSUs vested on November 21, 2025 and 1/16 shall vest on each quarterly anniversary of the Vesting Commencement Date thereafter, for so long as grantee's Service (as defined in the Plan) does not terminate.

	/s/ Benjamin L. Palleiko, Attorney-in-Fact	02/24/2026
	** 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).
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FAQ

What insider transactions did KalVista (KALV) CFO Brian Piekos report?

KalVista CFO Brian Piekos reported vesting of 5,000 Restricted Stock Units and their settlement into 5,000 shares of Common Stock, plus a related sale of 1,767 shares to cover tax withholding obligations. All transactions were reported as directly owned, non-derivative and derivative entries.

How many KalVista (KALV) shares did the CFO sell and at what price?

The CFO sold 1,767 shares of KalVista Common Stock in open-market transactions at a weighted-average price of $15.5668 per share. Footnotes state the individual sale prices ranged from $15.5253 to $15.56698 per share, and the sale was specifically to satisfy tax withholding.

What Restricted Stock Unit activity did KalVista (KALV) disclose for its CFO?

The filing shows 5,000 Restricted Stock Units exercised and converted into 5,000 shares of Common Stock for no cash consideration. Each RSU represents a contingent right to receive one share upon settlement, and vesting follows a scheduled quarterly pattern tied to continued service.

Was the KalVista (KALV) CFO’s February 2026 share sale discretionary?

No, the sale was not discretionary. Footnotes explain the 1,767 shares were sold under a sell-to-cover arrangement solely to fund tax withholding obligations arising from RSU vesting and settlement, rather than being an elective open-market sale initiated for portfolio reasons.

How many KalVista (KALV) shares and RSUs does the CFO hold after these transactions?

After the reported transactions, the CFO directly held 13,762 shares of KalVista Common Stock and 60,000 Restricted Stock Units. These positions reflect both the 5,000-share RSU conversion into stock and the 1,767-share sale executed to cover related tax withholding obligations.

What is the vesting schedule for the KalVista (KALV) CFO’s RSUs?

The RSU vesting schedule provides that three-sixteenths of the underlying shares vested on November 21, 2025, with one-sixteenth vesting on each quarterly anniversary thereafter. Vesting continues only so long as the grantee’s service with KalVista, as defined in the applicable equity plan, does not terminate.