Oruka COO sells shares, exercises stock warrant
Oruka Therapeutics, Inc. Chief Operating Officer Laura Lee Sandler reported a set of routine equity transactions.
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Form Type
4
Rhea-AI Filing Summary
Oruka Therapeutics, Inc. Chief Operating Officer Laura Lee Sandler reported a set of routine equity transactions. She sold a total of 5,000 shares of common stock in open-market trades at weighted average prices in the mid‑$90s per share, executed under a Rule 10b5‑1 trading plan entered into on September 19, 2025.
On the same date, she exercised an employee warrant to acquire 5,000 shares of common stock at an exercise price of $7.80 per share, fully converting this derivative position. Following these transactions, she directly holds 236,384 shares of Oruka Therapeutics common stock.
Insider Trade Summary 10b5-1
Exercise and Sale: 5,000 shares ($433K approx. pre-tax spread)
Exercise and Sale
5 txns
Insider
Sandler Laura Lee
Role
Chief Operating Officer
Sold
5,000 shs ($472K)
Approx. gross sale proceeds
$472K
Approx. exercise cost
$39K
Approx. pre-tax spread
$433K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Warrant (right to buy) | 5,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 5,000 | $7.80 | $39K |
| Sale | Common Stock | 2,237 | $93.8457 | $210K |
| Sale | Common Stock | 2,263 | $94.7458 | $214K |
| Sale | Common Stock | 500 | $95.472 | $48K |
Holdings After Transaction:
Employee Warrant (right to buy) — 79,996 contracts (Direct);
Common Stock — 236,384 shares (Direct)
Footnotes (5)
- F1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan entered into on September 19, 2025.
- F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $93.29 to $94.26, inclusive. The reporting person undertakes to provide to Oruka Therapeutics, Inc., any security holder of Oruka Therapeutics, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2), (3) and (4) to this Form 4.
- F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $94.38 to $95.19, inclusive.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $95.40 to $95.51, inclusive.
- F5. The warrant vests as to 1/4 of the underlying shares on April 3, 2025 and as to 1/48 of the underlying shares monthly from April 3, 2025.
Key Figures
Shares sold: 5,000 shares
Sale price range (example): $93.29–$94.26
Warrant exercise size: 5,000 shares
+2 more
5 metrics
Shares sold
5,000 shares
Total common stock sold in open-market transactions on July 1, 2026
Sale price range (example)
$93.29–$94.26
One set of weighted-average sale price ranges disclosed in footnote
Warrant exercise size
5,000 shares
Common shares acquired via employee warrant exercise
Warrant exercise price
$7.80 per share
Exercise price of employee warrant converted into common stock
Post-transaction holdings
236,384 shares
Direct Oruka common stock held after reported transactions
Key Terms
Rule 10b5-1 trading plan, weighted average price, Employee Warrant (right to buy), derivative security
4 terms
Rule 10b5-1 trading plan regulatory
"The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan entered into on September 19, 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.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
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.
Employee Warrant (right to buy) financial
"security_title: "Employee Warrant (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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Oruka Therapeutics (ORKA) COO Laura Lee Sandler report in this Form 4?
Laura Lee Sandler reported selling 5,000 Oruka Therapeutics common shares in open-market trades and exercising an employee warrant for 5,000 shares. These transactions adjusted her holdings but left her with a substantial remaining direct ownership position.
What derivative security did the Oruka Therapeutics (ORKA) COO exercise?
She exercised an employee warrant covering 5,000 shares of Oruka Therapeutics common stock at an exercise price of $7.80 per share. This exercise converted the warrant into common shares and, per the summary data, fully utilized that derivative position.
How significant are the Oruka Therapeutics (ORKA) COO’s transactions relative to her holdings?
She sold 5,000 shares and exercised a warrant for 5,000 shares while holding 236,384 shares afterward. This indicates the activity represents a relatively small portion of her disclosed direct ownership in the company.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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