KalVista (KALV) CEO reports RSU vesting and tax sell-to-cover trade

Rhea-AI Filing Summary

KalVista Pharmaceuticals chief executive officer Benjamin L. Palleiko reported routine equity compensation activity. On February 17, he exercised 2,419 restricted stock units, each converting into one share of common stock for no cash consideration, and his common stock holdings increased to 430,705 shares.

On February 18, he sold 1,038 common shares at $15.00 per share solely to cover tax withholding obligations related to the RSU vesting, a non‑discretionary “sell to cover” transaction. After this tax sale, he directly owned 429,667 common shares and 2,419 RSUs subject to continued vesting in equal quarterly installments.

Insider Trade Summary

Net Seller: 1,038 shares ($15,570)

Net Sell 3 txns

Insider Palleiko Benjamin L

Role CHIEF EXECUTIVE OFFICER

Sold 1,038 shs ($16K)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,038	$15.00	$16K
Exercise	Restricted Stock Unit	2,419	$0.00	--
Exercise	Common Stock	2,419	$0.00	--

Holdings After Transaction: Common Stock — 429,667 shares (Direct); Restricted Stock Unit — 2,419 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. 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.

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^*

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)
02/17/2026

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	02/17/2026		M		2,419	A	(1)	430,705	D
Common Stock	02/18/2026		S(2)		1,038	D	$15	429,667	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)	02/17/2026		M			2,419	(3)	(3)	Common Stock	2,419	$0	2,419	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. 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.

	/s/ Benjamin L. Palleiko	02/19/2026
	** 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).
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 transactions did KalVista (KALV) CEO Benjamin Palleiko report on this Form 4?

Benjamin Palleiko reported RSU vesting and a related tax sale. He exercised 2,419 restricted stock units into common shares, then sold 1,038 common shares at $15.00 per share to cover tax withholding obligations through a non-discretionary “sell to cover” transaction.

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

The CEO sold 1,038 shares of KalVista common stock at $15.00 per share. According to the filing, this sale was executed solely to satisfy tax withholding obligations arising from RSU vesting and was structured as a non-discretionary “sell to cover” transaction.

Were the KalVista (KALV) CEO’s share sales discretionary investment decisions?

The filing states the share sale was not discretionary. Shares were sold specifically to cover tax withholding obligations tied to vesting and settlement of RSUs, funded via a preset “sell to cover” arrangement rather than an elective open-market investment decision by the CEO.

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

After the reported transactions, the CEO directly owns 429,667 shares of KalVista common stock. He also holds 2,419 restricted stock units, each representing a contingent right to receive one additional share of common stock upon future settlement, subject to continued service.

What are the terms of the KalVista (KALV) CEO’s RSU vesting schedule?

The RSUs vest in 16 equal quarterly installments. Specifically, one-sixteenth of the total RSU grant vests on each quarterly anniversary of the vesting commencement date, provided the CEO continues in service through each respective vesting date under the award’s terms.

How do the RSUs convert into KalVista (KALV) common stock for the CEO?

Each restricted stock unit converts into one share of KalVista common stock upon settlement for no cash consideration. This means the CEO receives one share per RSU at vesting and settlement without paying an exercise price, subject to applicable tax withholding obligations.