NUVB CSO exercises options at $1.74; sells 100,000 shares via plan

Rhea-AI Filing Summary

Nuvation Bio (NUVB) insider transaction: The Chief Scientific Officer executed a stock option exercise for 100,000 Class A shares at $1.74 (code M) on 10/27/2025 and sold 100,000 shares at a weighted-average price of $5.0246 (code S) pursuant to a Rule 10b5-1 plan dated June 24, 2024.

Following the transactions, non-derivative holdings were 0 shares. Derivative holdings included 298,935 stock options. The option grant referenced vests 25% on July 1, 2020, with the remainder in equal monthly installments over three years.

Insider Trade Summary

Exercise and Sale: 100,000 shares ($328K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Hattersley Gary

Role CHIEF SCIENTIFIC OFFICER

Sold 100,000 shs ($502K)

Approx. gross sale proceeds $502K

Approx. exercise cost $174K

Approx. pre-tax spread $328K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	100,000	$0.00	$0.00
Exercise	Class A Common Stock	100,000	$1.74	$174K
Sale	Class A Common Stock	100,000	$5.0246	$502K

Holdings After Transaction: Stock Option (Right to Buy) — 298,935 contracts (Direct); Class A Common Stock — 0 shares (Direct)

Footnotes (3)

1. F1. Shares sold pursuant to a 10b5-1 plan dated June 24, 2024.
2. F2. Price reported is a weighted-average sales price. The shares were sold at prices ranging from $5.00 to $5.08. The Reporting Person will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.
3. F3. Options vest as to 25% on July 1, 2020 and in equal monthly installments thereafter over the following three years.

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Accepted by SEC EDGAR 10/29/2025 - 04:24 PM 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).

X

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^*

Hattersley Gary

(Last) (First) (Middle)

C/O NUVATION BIO INC.

1500 BROADWAY, SUITE 1401

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Nuvation Bio Inc. [ NUVB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF SCIENTIFIC OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
10/27/2025

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
Class A Common Stock	10/27/2025		M		100,000	A	$1.74	100,000	D
Class A Common Stock	10/27/2025		S(1)		100,000	D	$5.0246(2)	0	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
Stock Option (Right to Buy)	$1.74	10/27/2025		M			100,000	(3)	01/21/2030	Class A Common Stock	100,000	$0	298,935	D

Explanation of Responses:

1. Shares sold pursuant to a 10b5-1 plan dated June 24, 2024.

2. Price reported is a weighted-average sales price. The shares were sold at prices ranging from $5.00 to $5.08. The Reporting Person will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

3. Options vest as to 25% on July 1, 2020 and in equal monthly installments thereafter over the following three years.

	/s/ Stephen Dang, Attorney-in-Fact	10/29/2025
	** 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.