Were the Nuvation Bio (NUVB) CFO’s share sales made under a Rule 10b5-1 plan?

Yes. The filing states the shares were sold pursuant to a Rule 10b5-1 trading plan dated December 4, 2025. Such plans pre-schedule trades, indicating the timing of these sales was established in advance rather than decided spontaneously.

Nuvation Bio CFO exercises options, sells shares

Nuvation Bio Inc. Chief Financial Officer Philippe Sauvage exercised stock options and sold shares in a coordinated transaction.

Filing Impact

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Filing Sentiment

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Form Type

Rhea-AI Filing Summary

Nuvation Bio Inc. Chief Financial Officer Philippe Sauvage exercised stock options and sold shares in a coordinated transaction. He exercised options to acquire 47,668 shares of Class A common stock at $2.17 per share, then sold 47,668 shares in open-market trades at a weighted-average price of $6.0076 per share under a Rule 10b5-1 trading plan dated December 4, 2025. Following these transactions, he directly holds 12,673 shares of Class A common stock.

Insider Trade Summary 10b5-1

Exercise and Sale: 47,668 shares ($183K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Sauvage Philippe

Role Chief Financial Officer

Sold 47,668 shs ($286K)

Approx. gross sale proceeds $286K

Approx. exercise cost $103K

Approx. pre-tax spread $183K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	47,668	$0.00	$0.00
Exercise	Class A Common Stock	47,668	$2.17	$103K
Sale	Class A Common Stock	47,668	$6.0076	$286K

Holdings After Transaction: Stock Option (Right to Buy) — 702,332 contracts (Direct); Class A Common Stock — 12,673 shares (Direct)

Footnotes (3)

F1. Shares sold pursuant to a 10b5-1 plan dated December 4, 2025.
F2. Price reported is a weighted-average sales price. The shares were sold at prices ranging from $6.00 to $6.04. The Reporting Person will provide, upon request, to the Securities and Exchange Commission, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.
F3. Option vests as to 25% on the one year anniversary of October 7, 2024, and monthly thereafter over the following 36 months, subject to Reporting Person's continuous service on each such vesting date.

Key Figures

Shares sold: 47,668 shares Weighted-average sale price: $6.0076 per share Options exercised: 47,668 shares +3 more

6 metrics

Shares sold 47,668 shares Class A common stock sold in open market on June 23, 2026

Weighted-average sale price $6.0076 per share Open-market sales ranged from $6.00 to $6.04

Options exercised 47,668 shares Stock Option (Right to Buy) converted into Class A common stock

Option exercise price $2.17 per share Conversion or exercise price for the stock option

Shares held after 12,673 shares Direct Class A common stock ownership following transactions

Option expiration date October 6, 2034 Expiration of Stock Option (Right to Buy)

Key Terms

Rule 10b5-1 trading plan, Stock Option (Right to Buy), weighted-average sales price, Class A Common Stock, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"Shares sold pursuant to a 10b5-1 plan dated December 4, 2025."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Stock Option (Right to Buy) financial

"Security title listed as Stock Option (Right to Buy) with underlying shares."

weighted-average sales price financial

"Price reported is a weighted-average sales price with trades from $6.00 to $6.04."

Class A Common Stock financial

"Transactions involve Class A Common Stock of Nuvation Bio Inc."

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

derivative exercise/conversion financial

"Transaction code M described as Exercise or conversion of derivative security."

FAQ

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

What insider transaction did Nuvation Bio (NUVB) report for its CFO?

Nuvation Bio reported that CFO Philippe Sauvage exercised stock options and sold shares. He acquired 47,668 shares through option exercise and sold 47,668 shares of Class A common stock in open-market transactions on the same date.

How many Nuvation Bio (NUVB) shares did the CFO sell and at what price?

The CFO sold 47,668 shares of Nuvation Bio Class A common stock. The weighted-average sale price was $6.0076 per share, with individual trades executed between $6.00 and $6.04 per share, according to the disclosed price range.

At what price did the Nuvation Bio (NUVB) CFO exercise his stock options?

Philippe Sauvage exercised stock options for 47,668 underlying shares at an exercise price of $2.17 per share. These options were described as a Stock Option (Right to Buy) with that stated conversion or exercise price in the filing details.

How many Nuvation Bio (NUVB) shares does the CFO hold after the reported transactions?

After the reported option exercise and share sale, CFO Philippe Sauvage directly holds 12,673 shares of Nuvation Bio Class A common stock. This post-transaction ownership figure is explicitly listed as the total shares beneficially owned following the sale.

What are the key terms of the Nuvation Bio (NUVB) CFO stock option exercised?

The CFO exercised a Stock Option (Right to Buy) covering 47,668 underlying shares of Class A common stock at $2.17 per share. The option expires on October 6, 2034 and vests 25% after one year from October 7, 2024, then monthly over 36 months.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 06/24/2026 - 07:07 PM EDT

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^*

Sauvage Philippe

(Last)

(First)

(Middle)

C/O NUVATION BIO INC.

1500 BROADWAY, SUITE 1401

(Street)

NEW YORK

10036

(City)

(State)

(Zip)

UNITED STATES

(Country)

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 Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	06/23/2026		M		47,668	A	$2.17	60,341	D
Class A Common Stock	06/23/2026		S⁽¹⁾		47,668	D	$6.0076⁽²⁾	12,673	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$2.17	06/23/2026		M			47,668	⁽³⁾	10/06/2034	Class A Common Stock	47,668	$0	702,332	D

Explanation of Responses:

1. Shares sold pursuant to a 10b5-1 plan dated December 4, 2025.

2. Price reported is a weighted-average sales price. The shares were sold at prices ranging from $6.00 to $6.04. The Reporting Person will provide, upon request, to the Securities and Exchange Commission, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

3. Option vests as to 25% on the one year anniversary of October 7, 2024, and monthly thereafter over the following 36 months, subject to Reporting Person's continuous service on each such vesting date.

	/s/ Stephen Dang, Attorney-in-Fact, Attorney-in-Fact	06/24/2026
	** 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)

Source: View Original Filing on SEC EDGAR