Oruka Therapeutics (ORKA) counsel exercises options and sells 52,000 shares under plan
Rhea-AI Filing Summary
Oruka Therapeutics’ General Counsel, Paul T. Quinlan, reported option activity and sales on August 14, 2026. He exercised derivative awards covering 52,000 shares of common stock at exercise prices of $7.80 and $12.50 per share, then sold 52,000 shares of common stock in multiple transactions at weighted-average prices between roughly $105.53 and $111.22. The company confirms these sales were effected under a Rule 10b5-1 trading plan entered into on May 15, 2026. Following the exercises, he reports remaining derivative positions of 89,996 Employee Warrants and 120,500 Employee Stock Options.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 52,000 shares ($5.04M approx. pre-tax spread)
Exercise and Sale
10 txns
Insider
Quinlan Paul T
Role
General Counsel
Sold
52,000 shs ($5.64M)
Approx. gross sale proceeds
$5.64M
Approx. exercise cost
$603K
Approx. pre-tax spread
$5.04M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Warrant (right to buy) F8 | 10,000 | $0.00 | $0.00 |
| Exercise | Employee Stock Option (right to buy) F9 | 42,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 10,000 | $7.80 | $78K |
| Exercise | Common Stock | 42,000 | $12.50 | $525K |
| Sale | Common Stock F1, F2 | 3,630 | $106.0504 | $385K |
| Sale | Common Stock F1, F3 | 10,434 | $107.1402 | $1.12M |
| Sale | Common Stock F1, F4 | 14,696 | $107.9735 | $1.59M |
| Sale | Common Stock F1, F5 | 10,200 | $109.1131 | $1.11M |
| Sale | Common Stock F1, F6 | 9,193 | $110.0039 | $1.01M |
| Sale | Common Stock F1, F7 | 3,847 | $111.1378 | $428K |
Holdings After Transaction:
Employee Warrant (right to buy) — 89,996 shares (Direct);
Employee Stock Option (right to buy) — 120,500 shares (Direct);
Common Stock — 31,034 shares (Direct)
Footnotes (9)
- F1. These sales were effected pursuant to a Rule 10b5-1 trading plan entered into on May 15, 2026.
- F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $105.53 to $106.51, 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), (4), (5), (6) and (7) 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 $106.54 to $107.53, inclusive.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $107.54 to $108.52, inclusive.
- F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $108.56 to $109.51, inclusive.
- F6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $109.58 to $110.55, inclusive.
- F7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $110.66 to $111.22, inclusive.
- F8. The warrant vests as to 1/4 of the underlying shares on April 30, 2025 and as to 1/48 of the underlying shares monthly from April 30, 2025.
- F9. The option vests as to 1/48 of the underlying shares monthly from January 1, 2025.
Key Figures
Shares sold: 52,000 shares
Sale price range: $105.53–$111.22 per share
Warrant exercise: 10,000 shares at $7.80
+4 more
7 metrics
Shares sold
52,000 shares
Total common shares sold in multiple transactions on August 14, 2026
Sale price range
$105.53–$111.22 per share
Weighted-average price ranges across the reported sale transactions
Warrant exercise
10,000 shares at $7.80
Employee Warrant exercised into common stock on August 14, 2026
Option exercise
42,000 shares at $12.50
Employee Stock Option exercised into common stock on August 14, 2026
Remaining Employee Warrants
89,996 warrants
Derivative holdings following warrant exercise; expires July 14, 2034
Remaining Employee Stock Options
120,500 options
Derivative holdings following option exercise; expires January 21, 2035
Exercise shares reported
52,000 shares
Total shares underlying derivative exercises (code M) in this filing
Key Terms
Rule 10b5-1 trading plan, weighted average price, Employee Stock Option, Employee Warrant, +2 more
6 terms
Rule 10b5-1 trading plan regulatory
"These sales were effected pursuant to a Rule 10b5-1 trading plan entered into"
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. These shares"
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 Stock Option financial
"Employee Stock Option (right to buy)"
An employee stock option is a promise that lets a worker buy company shares later at a predetermined price, often after they stay for a certain period or meet performance goals — think of it like a coupon that locks in today's price for a future purchase. It matters to investors because options align employees’ incentives with company performance, can increase the number of shares outstanding (dilution) when exercised, and represent a compensation cost that affects reported profits and shareholder value.
Employee Warrant financial
"Employee Warrant (right to buy)"
derivative security financial
"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.
vesting financial
"The warrant vests as to 1/4 of the underlying shares on April 30, 2025"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
FAQ
What did Oruka Therapeutics (ORKA) executive Paul T. Quinlan report on this Form 4?
Paul T. Quinlan, General Counsel of Oruka Therapeutics, reported exercising derivative awards for 52,000 shares and selling 52,000 shares of common stock in multiple open-market transactions on August 14, 2026.
Were the Oruka Therapeutics (ORKA) insider sales made under a Rule 10b5-1 plan?
Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan entered into on May 15, 2026, and the Rule 10b5-1 checkbox is affirmed for this report.
What options or warrants did the Oruka Therapeutics (ORKA) insider exercise?
Paul T. Quinlan exercised an Employee Warrant for 10,000 shares at an exercise price of $7.80 and an Employee Stock Option for 42,000 shares at an exercise price of $12.50 per share.
What derivative awards does the Oruka Therapeutics (ORKA) insider still hold after these transactions?
After the reported exercises, the insider reports holding 89,996 Employee Warrants expiring on July 14, 2034 and 120,500 Employee Stock Options expiring on January 21, 2035, both with direct ownership.
How do the Oruka Therapeutics (ORKA) footnotes describe the sale prices?
Footnotes explain that the reported prices are weighted average prices, and that shares were sold in multiple transactions within specified price ranges, such as $105.53–$106.51 and other adjacent ranges up to $111.22.
AI-generated analysis. How Rhea-AI works. Not financial advice.
