Oruka Therapeutics medical chief sells 7,000 shares

Q: How many ORKA shares did Joana Goncalves sell?

Joana Goncalves sold 7,000 common shares on October 15, 2026, across five transactions. The reported weighted-average prices were $73.8894 for 2,853 shares, $74.6924 for 1,847, $75.4834 for 1,400, $76.6652 for 700, and $77.7100 for 200 shares. The sales were effected pursuant to a Rule 10b5-1 trading plan entered into September 19, 2025.

The five sale transactions were made under a Rule 10b5-1 trading plan entered into September 19, 2025.

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Rhea-AI Filing Summary

Oruka Therapeutics, Inc. Chief Medical Officer Joana Goncalves exercised employee stock options for 3,500 common shares at $6.84 per share and employee warrants for 3,500 common shares at $7.80 per share on October 15, 2026. On the same date, she sold 7,000 common shares in five transactions, with reported weighted-average prices from $73.8894 to $77.7100 per share. The sales were effected pursuant to a Rule 10b5-1 trading plan entered into September 19, 2025.

Insider Trade Summary 10b5-1

Exercise and Sale: 7,000 shares ($472K approx. pre-tax spread)

Exercise and Sale 9 txns

Insider Goncalves Joana

Role Chief Medical Officer

Sold 7,000 shs ($524K)

Approx. gross sale proceeds $524K

Approx. exercise cost $51K

Approx. pre-tax spread $472K

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy) ^F7	3,500	$0.00	$0.00
Exercise	Employee Warrant (right to buy) ^F8	3,500	$0.00	$0.00
Exercise	Common Stock	3,500	$6.84	$24K
Exercise	Common Stock	3,500	$7.80	$27K
Sale	Common Stock ^{F1, F2}	2,853	$73.8894	$211K
Sale	Common Stock ^{F1, F3}	1,847	$74.6924	$138K
Sale	Common Stock ^{F1, F4}	1,400	$75.4834	$106K
Sale	Common Stock ^{F1, F5}	700	$76.6652	$54K
Sale	Common Stock ^{F1, F6}	200	$77.71	$16K

Holdings After Transaction: Employee Stock Option (right to buy) — 190,063 contracts (Direct); Employee Warrant (right to buy) — 161,492 contracts (Direct); Common Stock — 31,771 shares (Direct)

Footnotes (8)

F1. These sales 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 $73.21 to $74.20, 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) and (6) 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 $74.22 to $75.18, inclusive.
F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.22 to $75.86, inclusive.
F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $76.27 to $77.23, inclusive.
F6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $77.68 to $77.74, inclusive.
F7. The option vests as to 1/4 of the underlying shares on April 18, 2025 and as to 1/48 of the underlying shares monthly from April 18, 2025.
F8. The warrant vests as to 1/4 of the underlying shares on April 18, 2025 and as to 1/48 of the underlying shares monthly from April 18, 2025.

Key Figures

Shares from exercised options: 3,500 shares Option exercise price: $6.84 per share Shares from exercised warrants: 3,500 shares +3 more

6 metrics

Shares from exercised options 3,500 shares October 15, 2026

Option exercise price $6.84 per share October 15, 2026

Shares from exercised warrants 3,500 shares October 15, 2026

Warrant exercise price $7.80 per share October 15, 2026

Common shares sold 7,000 shares Five transactions on October 15, 2026

Reported weighted-average sale prices $73.8894, $74.6924, $75.4834, $76.6652, and $77.7100 per share Five sale transactions on October 15, 2026

Key Terms

Rule 10b5-1 trading plan, weighted average price, Employee Stock Option (right to buy), Employee Warrant (right to buy)

4 terms

Rule 10b5-1 trading plan regulatory

"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 Stock Option (right to buy) technical

"Employee Stock Option (right to buy)"

Employee Warrant (right to buy) technical

"Employee Warrant (right to buy)"

FAQ

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How many ORKA shares did Joana Goncalves sell?

Joana Goncalves sold 7,000 common shares on October 15, 2026, across five transactions. The reported weighted-average prices were $73.8894 for 2,853 shares, $74.6924 for 1,847, $75.4834 for 1,400, $76.6652 for 700, and $77.7100 for 200 shares. The sales were effected pursuant to a Rule 10b5-1 trading plan entered into September 19, 2025.

What did Joana Goncalves exercise at ORKA?

On October 15, 2026, she exercised employee stock options for 3,500 common shares at $6.84 per share and employee warrants for 3,500 common shares at $7.80 per share.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/15/2026 - 06:15 PM EDT Accepted by SEC EDGAR 10/15/2026 - 06:15 PM EDT

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).

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^*

Goncalves Joana

(Last)

(First)

(Middle)

C/O ORUKA THERAPEUTICS, INC.

855 OAK GROVE AVE., SUITE 100

(Street)

MENLO PARK

CALIFORNIA

94025

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Oruka Therapeutics, Inc. [ ORKA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Medical Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/15/2026		M		3,500	A	$6.84	35,271	D
Common Stock	10/15/2026		M		3,500	A	$7.8	38,771	D
Common Stock	10/15/2026		S⁽¹⁾		2,853	D	$73.8894⁽²⁾	35,918	D
Common Stock	10/15/2026		S⁽¹⁾		1,847	D	$74.6924⁽³⁾	34,071	D
Common Stock	10/15/2026		S⁽¹⁾		1,400	D	$75.4834⁽⁴⁾	32,671	D
Common Stock	10/15/2026		S⁽¹⁾		700	D	$76.6652⁽⁵⁾	31,971	D
Common Stock	10/15/2026		S⁽¹⁾		200	D	$77.71⁽⁶⁾	31,771	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$6.84	10/15/2026		M			3,500	⁽⁷⁾	05/06/2034	Common Stock	3,500	$0	190,063	D
Employee Warrant (right to buy)	$7.8	10/15/2026		M			3,500	⁽⁸⁾	07/14/2034	Common Stock	3,500	$0	161,492	D

Explanation of Responses:

1. These sales were effected pursuant to a Rule 10b5-1 trading plan entered into on September 19, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $73.21 to $74.20, 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) and (6) to this Form 4.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $74.22 to $75.18, inclusive.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.22 to $75.86, inclusive.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $76.27 to $77.23, inclusive.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $77.68 to $77.74, inclusive.

7. The option vests as to 1/4 of the underlying shares on April 18, 2025 and as to 1/48 of the underlying shares monthly from April 18, 2025.

8. The warrant vests as to 1/4 of the underlying shares on April 18, 2025 and as to 1/48 of the underlying shares monthly from April 18, 2025.

	/s/ Paul Quinlan, as attorney-in-fact for Joana Goncalves	10/15/2026
	** 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)

Source: View Original Filing on SEC EDGAR