KalVista (KALV) CMO sells shares to cover RSU tax obligations
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 2,686 shares ($54,301)
Net Sell
3 txns
Insider
Audhya Paul K.
Role
CHIEF MEDICAL OFFICER
Sold
2,686 shs ($54K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 2,686 | $20.2163 | $54K |
| Exercise | Restricted Stock Unit | 6,250 | $0.00 | -- |
| Exercise | Common Stock | 6,250 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 142,547 shares (Direct, null);
Restricted Stock Unit — 93,750 shares (Direct, null)
Footnotes (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 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
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.
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.