Nuvalent (NUVL) CFO sells 11,430 shares, exercises options under plan

Rhea-AI Filing Summary

Nuvalent, Inc. Chief Financial Officer Alexandra Balcom reported a mix of stock option exercises and share sales in Class A common stock. On May 1, 2026, she exercised options to acquire a total of 11,430 shares through two transactions at exercise prices of $6.89 and $1.08 per share.

On the same date, Balcom sold an aggregate of 11,430 shares in open-market transactions at weighted average prices of about $98–$100 per share, with individual sale prices ranging from $97.84 to $100.36. The filing notes these trades were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 23, 2025, indicating the timing of the sales was set in advance.

Insights

Equity compensation analyst

CFO exercised options and sold an equal number of shares under a pre-set plan.

Nuvalent’s CFO, Alexandra Balcom, exercised options to acquire 11,430 shares of Class A common stock at relatively low exercise prices of $6.89 and $1.08 per share, then sold the same number of shares in open-market transactions around $98–$100.

The filing’s transactionSummary shows exerciseShares of 11,430 and sellShares of 11,430, resulting in a net-sell of 11,430 shares. However, footnote F1 states these trades were made pursuant to a Rule 10b5-1 trading plan adopted on December 23, 2025, suggesting a pre-planned liquidity event rather than a discretionary timing decision.

Because the transactions combine option exercises with offsetting sales under a pre-arranged plan, and the filing does not quantify her total ownership relative to the company’s shares outstanding, this appears to be a routine portfolio and compensation management move rather than a thesis-changing signal for NUVL. Future company filings may further detail her remaining equity incentives.

Insider Trade Summary 10b5-1

Net Seller: 11,430 shares ($1,131,600)

Net Sell 7 txns

Insider Balcom Alexandra

Role Chief Financial Officer

Sold 11,430 shs ($1.13M)

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	7,159	$0.00	--
Exercise	Stock Option (Right to Buy)	4,271	$0.00	--
Exercise	Class A Common Stock	7,159	$1.08	$8K
Exercise	Class A Common Stock	4,271	$6.89	$29K
Sale	Class A Common Stock	3,872	$98.42	$381K
Sale	Class A Common Stock	7,434	$99.29	$738K
Sale	Class A Common Stock	124	$99.97	$12K

Holdings After Transaction: Stock Option (Right to Buy) — 131,637 shares (Direct, null); Class A Common Stock — 92,692 shares (Direct, null)

Footnotes (1)

1. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 23, 2025. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $97.84 to $98.83, 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. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $98.85 to $99.80, inclusive. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $99.86 to $100.36, inclusive. The shares underlying this option are fully vested.

Key Figures

Shares sold at $99.29: 7,434 shares Shares sold at $98.42: 3,872 shares Shares sold at $99.97: 124 shares +3 more

6 metrics

Shares sold at $99.29 7,434 shares Class A Common Stock sale on May 1, 2026 at $99.2900

Shares sold at $98.42 3,872 shares Class A Common Stock sale on May 1, 2026 at $98.4200

Shares sold at $99.97 124 shares Class A Common Stock sale on May 1, 2026 at $99.9700

Options exercised at $6.89 4,271 shares Stock Option (Right to Buy) with $6.8900 exercise price

Options exercised at $1.08 7,159 shares Stock Option (Right to Buy) with $1.0800 exercise price

Total shares sold 11,430 shares SellShares in transactionSummary, net-sell direction

Key Terms

Rule 10b5-1 trading plan, weighted average price, Stock Option (Right to Buy), derivative security

4 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.

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.

Stock Option (Right to Buy) financial

"security_title": "Stock Option (Right to Buy)""

derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

Form 4 Insider Transactions: What Each Field Means →

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)
05/01/2026

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	05/01/2026		M(1)		7,159	A	$1.08	92,692	D
Class A Common Stock	05/01/2026		M(1)		4,271	A	$6.89	96,963	D
Class A Common Stock	05/01/2026		S(1)		3,872	D	$98.42(2)	93,091	D
Class A Common Stock	05/01/2026		S(1)		7,434	D	$99.29(3)	85,657	D
Class A Common Stock	05/01/2026		S(1)		124	D	$99.97(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	05/01/2026		M(1)			7,159	(5)	02/16/2031	Class A Common Stock	7,159	$0.00	131,637	D
Stock Option (Right to Buy)	$6.89	05/01/2026		M(1)			4,271	(5)	04/29/2031	Class A Common Stock	4,271	$0.00	24,830	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 $97.84 to $98.83, 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 $98.85 to $99.80, inclusive.

4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $99.86 to $100.36, inclusive.

5. The shares underlying this option are fully vested.

	/s/ Nathan N. McConarty, attorney-in-fact	05/05/2026
	** 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)

FAQ

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

Nuvalent CFO Alexandra Balcom reported exercising stock options for 11,430 Class A shares and selling 11,430 shares in open-market trades. The sales occurred around $98–$100 per share and were executed under a pre-arranged Rule 10b5-1 trading plan adopted in December 2025.

How many Nuvalent (NUVL) shares did the CFO sell and at what prices?

The CFO sold 11,430 Nuvalent Class A shares in several open-market transactions. Weighted average sale prices were around $98–$100 per share, with individual trades executed between $97.84 and $100.36, according to the price ranges disclosed in the Form 4 footnotes.

What stock options did the Nuvalent (NUVL) CFO exercise in this filing?

Alexandra Balcom exercised options covering 4,271 shares at an exercise price of $6.89 and 7,159 shares at an exercise price of $1.08. These option exercises converted derivative securities into Class A common stock as part of her equity compensation package at Nuvalent.

Was the Nuvalent (NUVL) CFO’s stock sale under a Rule 10b5-1 trading plan?

Yes. A Form 4 footnote states the transactions were effected under a Rule 10b5-1 trading plan adopted on December 23, 2025. Such pre-arranged plans schedule trades in advance, reducing the significance of day-to-day market timing decisions by the insider.

Does this Nuvalent (NUVL) Form 4 show a net increase or decrease in CFO holdings?

The Form 4’s transactionSummary shows 11,430 shares acquired through option exercises and 11,430 shares sold. This results in a net-sell of 11,430 shares for the reported period, though the filing does not compare her holdings to Nuvalent’s total shares outstanding.