KalVista CMO covers RSU taxes via share sale

KalVista Pharmaceuticals chief medical officer Paul K. Audhya reported routine equity compensation activity and a related tax sale.

Rhea-AI Filing Summary

KalVista Pharmaceuticals chief medical officer Paul K. Audhya reported routine equity compensation activity and a related tax sale. On April 16, 6,250 restricted stock units vested into the same number of common shares at no cost, as part of a scheduled RSU vesting plan. A total of 2,686 common shares were then sold at an average price of $20.2163 solely to cover tax withholding obligations through a non-discretionary sell-to-cover arrangement. After these transactions, he directly holds 142,547 shares of common stock and 93,750 unvested RSUs that continue to vest quarterly, subject to continued service.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider Audhya Paul K.

Role CHIEF MEDICAL OFFICER

Sold 2,686 shs ($54K)

Approx. gross sale proceeds $54K

Approx. exercise cost $0.00

Type	Security	Shares	Price	Value
Sale	Common Stock	2,686	$20.2163	$54K
Exercise	Restricted Stock Unit	6,250	$0.00	$0.00
Exercise	Common Stock	6,250	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 93,750 contracts (Direct); Common Stock — 142,547 shares (Direct)

Footnotes (3)

1. F1. 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. F2. 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. F3. 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 April 16, 2026, subject to continued service through each vesting date.

Key Figures

Shares sold for taxes: 2,686 shares Sale price per share: $20.2163/share RSUs vested: 6,250 units +3 more

6 metrics

Shares sold for taxes 2,686 shares Open-market sale to cover RSU tax withholding at $20.2163/share

Sale price per share $20.2163/share Average price for 2,686 shares sold to cover tax obligations

RSUs vested 6,250 units Restricted stock units converted into common stock on April 16, 2026

Common shares after transactions 142,547 shares Direct common stock holdings following RSU vesting and tax sale

RSUs remaining 93,750 units Restricted stock units outstanding after the 6,250-unit vesting event

Net share change from trades -2,686 shares Net sell direction based on reported buy/sell activity in this filing

Key Terms

Restricted Stock Unit, sell to cover, tax withholding obligations, vesting commencement date

4 terms

Restricted Stock Unit financial

"Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

sell to cover financial

"The sale was to satisfy tax withholding obligations to be funded by a "sell to cover" transaction"

Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.

tax withholding obligations financial

"shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs"

vesting commencement date financial

"1/16th of the total number of shares subject to the RSU shall vest on each quarterly anniversary of the Vesting Commencement Date"

The vesting commencement date is the starting point when an employee begins earning ownership rights to their promised benefits, such as stock options or retirement contributions. Think of it like the day a savings account is opened—only after this date do the benefits start to grow and become fully available over time. It matters to investors because it marks when the clock begins ticking toward full ownership, affecting the timing and value of these benefits.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did KalVista (KALV) report for Paul K. Audhya?

KalVista’s chief medical officer Paul K. Audhya had 6,250 restricted stock units vest into common shares, then sold 2,686 shares. The sale was part of a non-discretionary sell-to-cover arrangement to pay tax withholding obligations tied to the RSU vesting.

Was the KalVista (KALV) CMO’s share sale a discretionary open-market trade?

No. The 2,686 KalVista shares sold by the CMO were executed solely to cover tax withholding from RSU vesting under a sell-to-cover arrangement. The filing states this sale did not represent a discretionary transaction by the reporting person.

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

Following the reported transactions, the KalVista chief medical officer directly holds 142,547 shares of common stock. This figure reflects his position after the 6,250-share RSU vesting and the sale of 2,686 shares to satisfy related tax obligations.

What RSU position does the KalVista (KALV) CMO retain after the Form 4 filing?

After the April 16 RSU conversion, the CMO holds 93,750 restricted stock units. Each RSU represents a contingent right to receive one KalVista common share at settlement for no consideration, subject to the applicable vesting schedule and continued service.

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

The filing states that one-sixteenth of the total RSU grant vests on each quarterly anniversary of the vesting commencement date, starting April 16, 2026. Continued service through each vesting date is required for additional restricted stock units to vest.

At what price were the KalVista (KALV) CMO’s shares sold to cover taxes?

The 2,686 KalVista common shares sold to cover tax withholding obligations were transacted at an average price of $20.2163 per share. This sale forms part of a sell-to-cover mechanism tied specifically to the vesting and settlement of restricted stock units.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/20/2026 - 07:42 PM EDT Learn about SEC filing dates

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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 MASSACHUSETTS 01702

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/16/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	04/16/2026		M		6,250	A	(1)	145,233	D
Common Stock	04/17/2026		S(2)		2,686	D	$20.2163	142,547	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)	04/16/2026		M			6,250	(3)	(3)	Common Stock	6,250	$0	93,750	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 commencing on April 16, 2026, subject to continued service through each vesting date.

	/s/ Benjamin L. Palleiko, Attorney-in-Fact	04/20/2026
	** 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.
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.
* Form 4: SEC 1474 (03-26)