Oruka Therapeutics SVP sells 9,999 shares, exercises options

Oruka Therapeutics, Inc. Senior Vice President, Finance Agarwal Arjun reported open-market sales of common stock and exercises of employee stock options on July 13, 2026.

Rhea-AI Filing Summary

Oruka Therapeutics, Inc. Senior Vice President, Finance Agarwal Arjun reported open-market sales of common stock and exercises of employee stock options on July 13, 2026. He sold a total of 9,999 shares of common stock in multiple open-market transactions at weighted-average prices between $82.49 and $85.69 per share, pursuant to a Rule 10b5-1 trading plan entered into on February 11, 2026. On the same date, he exercised employee stock options to acquire 9,999 shares of common stock at exercise prices of $34.39 and $12.50 per share.

Filing Explained

On July 13, the filing reports plan-based sales alongside option exercises, leaving the reporting person with 15,312 directly held common shares.

This Form 4 reports an insider transaction dated July 13, 2026 and the reporting person’s holdings after the transaction.

It records two option exercises and four direct common-stock sales on that date; the resulting direct common-stock holding is 15,312 shares.

Under the supplied code definitions, the two “M” entries are option or derivative exercises, and the four “S” entries are open-market sales.

The filing states that the sales were made under a Rule 10b5-1 trading plan entered into on February 11, 2026; that disclosure identifies an advance written plan but does not state the reasons for individual trades.

The derivative table separately reports 101,459 and 61,250 employee stock options beneficially owned after the reported exercises.

Insider Trade Summary 10b5-1

Exercise and Sale: 9,999 shares ($689K approx. pre-tax spread)

Exercise and Sale 8 txns

Insider Agarwal Arjun

Role Senior Vice President, Finance

Sold 9,999 shs ($846K)

Approx. gross sale proceeds $846K

Approx. exercise cost $157K

Approx. pre-tax spread $689K

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy) F6	8,541	$0.00	$0.00
Exercise	Employee Stock Option (right to buy) F7	1,458	$0.00	$0.00
Exercise	Common Stock	8,541	$12.50	$107K
Exercise	Common Stock	1,458	$34.39	$50K
Sale	Common Stock F1, F2	300	$83.0665	$25K
Sale	Common Stock F1, F3	3,743	$84.2557	$315K
Sale	Common Stock F1, F4	5,656	$84.9012	$480K
Sale	Common Stock F1, F5	300	$85.6333	$26K

Holdings After Transaction: Employee Stock Option (right to buy) — 162,709 contracts (Direct); Common Stock — 15,312 shares (Direct)

Footnotes (7)

1. F1. These sales were effected pursuant to a Rule 10b5-1 trading plan entered into on February 11, 2026.
2. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $82.49 to $83.37, 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) and (5) to this Form 4.
3. F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $83.54 to $84.53, inclusive.
4. F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $84.54 to $85.50, inclusive.
5. F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.56 to $85.69, inclusive.
6. F6. The option vests as to 1/48 of the underlying shares monthly from January 1, 2025.
7. F7. The option vests as to 1/48 of the underlying shares monthly from January 1, 2026.

Key Figures

Common shares sold: 9,999 shares Sale price range: $82.49–$85.69 per share Options exercised (shares): 9,999 shares +3 more

6 metrics

Common shares sold 9,999 shares Total open-market sales of common stock on July 13, 2026

Sale price range $82.49–$85.69 per share Price ranges for the multiple open-market sales on July 13, 2026

Options exercised (shares) 9,999 shares Total shares acquired through employee stock option exercises on July 13, 2026

Option exercise price 1 $34.39 per share Exercise price for a 1,458-share employee stock option exercised

Option exercise price 2 $12.50 per share Exercise price for an 8,541-share employee stock option exercised

Option expiration dates 2036-01-22; 2035-01-21 Expiration dates for the employee stock options involved in the exercises

Key Terms

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

4 terms

Rule 10b5-1 trading plan regulatory

"These sales were effected pursuant to a Rule 10b5-1 trading plan"

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) financial

"security_title": "Employee 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.

FAQ

What insider stock transactions involving ORKA did Agarwal Arjun report on July 13, 2026?

Agarwal Arjun reported open-market sales and stock option exercises in Oruka Therapeutics (ORKA) on July 13, 2026. He both sold common shares and exercised employee stock options for additional shares on the same date.

How many Oruka Therapeutics (ORKA) shares did Agarwal Arjun sell, and at what price range?

He sold 9,999 shares of common stock in multiple open-market transactions. The weighted-average sale prices fell within ranges between $82.49 and $85.69 per share, as detailed in the transaction footnotes.

What stock options did Agarwal Arjun exercise in his ORKA transactions on July 13, 2026?

He exercised employee stock options to acquire 9,999 shares of Oruka Therapeutics common stock. These included 1,458 shares at an exercise price of $34.39 and 8,541 shares at an exercise price of $12.50 per share.

Were Agarwal Arjun’s ORKA stock sales made under a Rule 10b5-1 trading plan?

Yes. The sales were effected pursuant to a Rule 10b5-1 trading plan that Agarwal Arjun entered into on February 11, 2026. Such plans are designed to pre-schedule trades according to predetermined instructions.

Do the ORKA insider transactions include tax withholding or gifts of shares?

No. The reported activity consists of open-market sales and stock option exercises only. There are no transactions coded for tax withholding (code F), gifts (code G), or other non-market dispositions in the disclosed data.

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

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Available on EDGAR 07/13/2026 - 05:09 PM Accepted by SEC EDGAR 07/13/2026 - 05:09 PM Learn about SEC filing dates

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^*

Agarwal Arjun

(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)
	Senior Vice President, Finance

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/13/2026

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
Common Stock	07/13/2026		M		8,541	A	$12.5	23,853	D
Common Stock	07/13/2026		M		1,458	A	$34.39	25,311	D
Common Stock	07/13/2026		S(1)		300	D	$83.0665(2)	25,011	D
Common Stock	07/13/2026		S(1)		3,743	D	$84.2557(3)	21,268	D
Common Stock	07/13/2026		S(1)		5,656	D	$84.9012(4)	15,612	D
Common Stock	07/13/2026		S(1)		300	D	$85.6333(5)	15,312	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
Employee Stock Option (right to buy)	$12.5	07/13/2026		M			8,541	(6)	01/21/2035	Common Stock	8,541	$0	101,459	D
Employee Stock Option (right to buy)	$34.39	07/13/2026		M			1,458	(7)	01/22/2036	Common Stock	1,458	$0	61,250	D

Explanation of Responses:

1. These sales were effected pursuant to a Rule 10b5-1 trading plan entered into on February 11, 2026.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $82.49 to $83.37, 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) and (5) 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 $83.54 to $84.53, inclusive.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $84.54 to $85.50, inclusive.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.56 to $85.69, inclusive.

6. The option vests as to 1/48 of the underlying shares monthly from January 1, 2025.

7. The option vests as to 1/48 of the underlying shares monthly from January 1, 2026.

	/s/ Paul Quinlan, as attorney-in-fact for Arjun Agarwal	07/13/2026
	** 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)