Oruka CEO sells 75K shares after warrant exercise
Under a May 14, 2026 Rule 10b5-1 plan, insider Klein exercised and then sold 75,000 ORKA shares at about $90.79 to $92.44 each.
Rhea-AI Filing Summary
Oruka Therapeutics, Inc. (ORKA) reported that Chief Executive Officer and director Lawrence Otto Klein exercised an employee warrant to acquire 75,000 shares of common stock at an exercise price of $7.80 per share and on the same date sold 75,000 shares of common stock in multiple open-market transactions. The sales, totaling 6,604, 63,596 and 4,800 shares, were executed at weighted average prices of $90.79, $91.90 and $92.44 per share, respectively, under a Rule 10b5-1 trading plan entered into on May 14, 2026. Following the exercise, Klein continued to hold 1,553,513 employee warrant shares, which expire on July 14, 2034.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 75,000 shares ($6.30M approx. pre-tax spread)
Exercise and Sale
5 txns
Insider
Klein Lawrence Otto
Role
Chief Executive Officer
Sold
75,000 shs ($6.89M)
Approx. gross sale proceeds
$6.89M
Approx. exercise cost
$585K
Approx. pre-tax spread
$6.30M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Warrant (right to buy) F5 | 75,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 75,000 | $7.80 | $585K |
| Sale | Common Stock F1, F2 | 6,604 | $90.7868 | $600K |
| Sale | Common Stock F1, F3 | 63,596 | $91.8963 | $5.84M |
| Sale | Common Stock F1, F4 | 4,800 | $92.4357 | $444K |
Holdings After Transaction:
Employee Warrant (right to buy) — 1,553,513 contracts (Direct);
Common Stock — 925,580 shares (Direct)
Footnotes (5)
- F1. These sales were effected pursuant to a Rule 10b5-1 trading plan entered into on May 14, 2026.
- F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.27 to $91.26, 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 $91.28 to $92.27, inclusive.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $92.31 to $92.59, 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
Employee warrant shares exercised: 75,000 shares
Exercise price: $7.80 per share
Common shares sold (first tranche): 6,604 shares at $90.7868 per share
+5 more
8 metrics
Employee warrant shares exercised
75,000 shares
Employee Warrant (right to buy) exercised on September 1, 2026
Exercise price
$7.80 per share
Exercise or conversion of employee warrant into common stock
Common shares sold (first tranche)
6,604 shares at $90.7868 per share
Open-market sale of common stock on September 1, 2026
Common shares sold (second tranche)
63,596 shares at $91.8963 per share
Open-market sale of common stock on September 1, 2026
Common shares sold (third tranche)
4,800 shares at $92.4357 per share
Open-market sale of common stock on September 1, 2026
Employee warrant shares held after exercise
1,553,513 shares
Post-transaction holdings of Employee Warrant (right to buy)
Warrant expiration date
July 14, 2034
Expiration of Employee Warrant (right to buy)
Rule 10b5-1 plan adoption date
May 14, 2026
Date CEO entered into trading plan covering the reported sales
Key Terms
Rule 10b5-1 trading plan, weighted average price, Employee Warrant (right to buy), derivative security, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"These sales were effected pursuant to a Rule 10b5-1 trading plan entered"
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
What insider transactions did ORKA’s CEO report on this Form 4?
Chief Executive Officer Lawrence Otto Klein exercised an employee warrant for 75,000 shares of Oruka Therapeutics, Inc. common stock at $7.80 per share and sold 75,000 shares of common stock in a series of open-market transactions on September 1, 2026.
Was the ORKA CEO’s stock sale under a Rule 10b5-1 trading plan?
Yes. The filing states that the sales were effected pursuant to a Rule 10b5-1 trading plan entered into on May 14, 2026, and the Rule 10b5-1 checkbox is affirmed for this Form 4.
What are the terms of the employee warrant exercised by ORKA’s CEO?
The employee warrant has an exercise price of $7.80 per share and expires on July 14, 2034. It vests as to 1/4 of the underlying shares on April 3, 2025 and as to 1/48 of the underlying shares monthly from that date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
