KalVista (KALV) CEO reports RSU share gain and tax-related stock sale

Rhea-AI Filing Summary

KalVista Pharmaceuticals CEO Benjamin L. Palleiko reported a mix of RSU vesting and tax-related share sales. On February 21, 2026, he acquired 23,250 shares of Common Stock at $0.00 per share through the settlement of Restricted Stock Units, each RSU converting into one common share at no cost.

On February 23, 2026, he sold 10,034 shares of Common Stock at a weighted average price of $15.5668 per share, in transactions ranging from $15.5253 to $15.566982. According to the disclosure, this sale was a mandatory “sell to cover” to satisfy tax withholding obligations tied to the RSU vesting, and was not a discretionary trade.

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^*

Palleiko Benjamin L

(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
X	Officer (give title below)		Other (specify below)
	CHIEF EXECUTIVE 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		23,250	A	(1)	452,917	D
Common Stock	02/23/2026		S(2)		10,034	D	$15.5668(3)	442,883	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			23,250	(4)	(4)	Common Stock	23,250	$0	279,000	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 $15.566982 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 commencing on May 21, 2025, subject to continued service through each vesting date.

	/s/ Benjamin L. Palleiko	02/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did KalVista (KALV) CEO Benjamin Palleiko report?

Benjamin Palleiko reported RSU vesting and a related tax sale. He received 23,250 shares of common stock from Restricted Stock Units at no cost and sold 10,034 shares in the market to cover tax withholding obligations tied to that vesting event.

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

The CEO sold 10,034 shares of KalVista common stock. The weighted average sale price was $15.5668 per share, with individual trades executed between $15.5253 and $15.566982 per share, as disclosed in the transaction details and accompanying footnote.

Was the KalVista (KALV) CEO’s stock sale a discretionary trade?

The sale was not discretionary. The filing states the 10,034 shares were sold solely to cover tax withholding obligations from vesting Restricted Stock Units, using a “sell to cover” arrangement, rather than an independent decision to reduce his investment position.

What did the KalVista (KALV) CEO receive from Restricted Stock Units (RSUs)?

He received 23,250 shares of common stock from RSUs. Each RSU represents a contingent right to one share delivered at settlement for no consideration, meaning the CEO did not pay cash for these shares when they vested and converted.

How do KalVista (KALV) CEO RSUs vest over time?

The RSUs vest gradually. One-sixteenth of the total RSU grant vests on each quarterly anniversary of the vesting commencement date, starting May 21, 2025, so long as the CEO continues providing service through each specified vesting date.

How many KalVista (KALV) shares did the CEO hold after these transactions?

Following the February 23, 2026 tax-related sale, the CEO directly held 442,883 shares of KalVista common stock, as listed in the post-transaction ownership column for the non-derivative security in the reported Form 4 insider filing.