Nuvalent CFO exercises options, sells 11,430 shares

Nuvalent, Inc. Chief Financial Officer Alexandra Balcom exercised stock options for 11,430 shares of Class A common stock at an exercise price of $1.08 per share.

Rhea-AI Filing Summary

Nuvalent, Inc. Chief Financial Officer Alexandra Balcom exercised stock options for 11,430 shares of Class A common stock at an exercise price of $1.08 per share. On the same date, she sold 11,430 shares in open-market transactions at weighted average prices between $103.81 and $106.69.

The filing shows these trades were made under a pre-arranged Rule 10b5-1 trading plan adopted on December 23, 2025, indicating the sales were scheduled in advance. Following the transactions, Balcom directly holds 85,533 shares of Nuvalent Class A common stock.

Insights

Equity compensation analyst

CFO executes routine option exercise-and-sell under 10b5-1 plan.

The Nuvalent CFO exercised 11,430 stock options at an exercise price of $1.08 per share and sold the same number of shares around $104–$106. This is a classic exercise-and-sell pattern converting equity awards into cash.

The filing notes the trades were made under a Rule 10b5-1 trading plan adopted on December 23, 2025, suggesting they were pre-scheduled rather than opportunistic. After selling, she still holds 85,533 shares directly, so the disposals represent only a portion of her equity exposure.

There are no remaining derivative positions listed in this filing, and the option underlying these shares is fully vested. Overall, this appears to be routine liquidity management rather than a signal of a major change in insider sentiment.

Insider Trade Summary 10b5-1

Exercise and Sale: 11,430 shares ($1.19M approx. pre-tax spread)

Exercise and Sale 5 txns

Insider Balcom Alexandra

Role Chief Financial Officer

Sold 11,430 shs ($1.20M)

Approx. gross sale proceeds $1.20M

Approx. exercise cost $12K

Approx. pre-tax spread $1.19M

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	11,430	$0.00	$0.00
Exercise	Class A Common Stock	11,430	$1.08	$12K
Sale	Class A Common Stock	3,544	$104.39	$370K
Sale	Class A Common Stock	5,417	$105.30	$570K
Sale	Class A Common Stock	2,469	$106.18	$262K

Holdings After Transaction: Stock Option (Right to Buy) — 138,796 contracts (Direct); Class A Common Stock — 85,533 shares (Direct)

Footnotes (5)

1. F1. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 23, 2025.
2. F2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $103.81 to $104.79, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, Nuvalent, Inc. or any security holder of Nuvalent, Inc., upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (4) of this Form 4.
3. F3. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $104.84 to $105.83, inclusive.
4. F4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $105.85 to $106.69, inclusive.
5. F5. The shares underlying this option are fully vested.

Key Figures

Options exercised: 11,430 shares Exercise price: $1.08 per share Shares sold at $104.39: 3,544 shares at $104.39 +5 more

8 metrics

Options exercised 11,430 shares Stock Option (Right to Buy) exercised on April 1, 2026

Exercise price $1.08 per share Strike price for 11,430 options exercised

Shares sold at $104.39 3,544 shares at $104.39 Open-market sale, weighted average price

Shares sold at $105.30 5,417 shares at $105.30 Open-market sale, weighted average price

Shares sold at $106.18 2,469 shares at $106.18 Open-market sale, weighted average price

Net shares sold 11,430 shares Total shares sold matches shares acquired via option exercise

Shares held after transactions 85,533 shares Direct Class A common stock held by CFO after sales

Options outstanding after exercise 138,796 rights Total derivative holdings following the reported option exercise

Key Terms

Rule 10b5-1 trading plan, Stock Option (Right to Buy, weighted average price, Class A Common Stock, +2 more

6 terms

Rule 10b5-1 trading plan regulatory

"These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person"

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": "Stock Option (Right to Buy)"

weighted average price financial

"The price reported is a weighted average price. These shares were sold in multiple transactions"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Class A Common Stock financial

"underlying_security_title": "Class A Common Stock""

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.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

fully vested financial

"The shares underlying this option are fully vested."

FAQ

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

What did Nuvalent (NUVL) CFO Alexandra Balcom do in this Form 4 filing?

Nuvalent CFO Alexandra Balcom exercised 11,430 stock options at an exercise price of $1.08 per share and sold 11,430 Class A common shares in the open market at weighted average prices between about $103.81 and $106.69, converting option value into cash.

How many Nuvalent (NUVL) shares does the CFO hold after these transactions?

After the reported trades, Alexandra Balcom directly holds 85,533 shares of Nuvalent Class A common stock. This figure reflects her remaining direct ownership following the 11,430-share option exercise and matching open-market sales disclosed in the Form 4 filing.

Were Alexandra Balcom’s Nuvalent (NUVL) share sales pre-planned?

Yes. The filing states the transactions were effected under a Rule 10b5-1 trading plan adopted on December 23, 2025. Such plans pre-schedule trades, reducing the likelihood that the timing reflects short-term views on Nuvalent’s stock performance.

What prices did the Nuvalent (NUVL) CFO receive for the sold shares?

The reported prices are weighted averages: one block around $104.39, another at $105.30, and a third at $106.18. Footnotes explain shares were sold in multiple trades within ranges from $103.81 up to $106.69 per share.

What type of derivative did the Nuvalent (NUVL) CFO exercise?

She exercised a Stock Option (Right to Buy) covering 11,430 shares of Class A common stock at an exercise price of $1.08 per share. A footnote confirms that the shares underlying this option were fully vested at the time of exercise.

Does this Nuvalent (NUVL) Form 4 show any remaining options for the CFO?

The filing shows a derivative transaction where total option-related holdings following the exercise are 138,796 rights. However, the specific derivative summary in the data excerpt is empty, so only this transaction’s post-exercise derivative balance appears in the provided details.

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

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Accepted by SEC EDGAR 04/03/2026 - 04:30 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).

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^*

Balcom Alexandra

(Last) (First) (Middle)

C/O NUVALENT, INC.

ONE BROADWAY, 14TH FLOOR

(Street)

CAMBRIDGE MASSACHUSETTS 02142

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Nuvalent, Inc. [ NUVL ]

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)
04/01/2026

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
Class A Common Stock	04/01/2026		M(1)		11,430	A	$1.08	96,963	D
Class A Common Stock	04/01/2026		S(1)		3,544	D	$104.39(2)	93,419	D
Class A Common Stock	04/01/2026		S(1)		5,417	D	$105.3(3)	88,002	D
Class A Common Stock	04/01/2026		S(1)		2,469	D	$106.18(4)	85,533	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)	$1.08	04/01/2026		M(1)			11,430	(5)	02/16/2031	Class A Common Stock	11,430	$0.00	138,796	D

Explanation of Responses:

1. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 23, 2025.

2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $103.81 to $104.79, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, Nuvalent, Inc. or any security holder of Nuvalent, Inc., upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (4) of this Form 4.

3. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $104.84 to $105.83, inclusive.

4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $105.85 to $106.69, inclusive.

5. The shares underlying this option are fully vested.

	/s/ Nathan N. McConarty, attorney-in-fact	04/03/2026
	** 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)