Oruka COO sells shares, exercises 5,000 warrants
Oruka Therapeutics, Inc. Chief Operating Officer Laura Lee Sandler reported multiple transactions in the company’s common stock.
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Form Type
4
Rhea-AI Filing Summary
Oruka Therapeutics, Inc. Chief Operating Officer Laura Lee Sandler reported multiple transactions in the company’s common stock. On May 1, 2026, she completed open-market sales totaling 5,000 shares at weighted average prices within ranges from $62.33 to $67.20 per share under a pre-established Rule 10b5-1 trading plan.
On the same date, she also exercised employee warrants to acquire 5,000 shares of common stock at an exercise price of $7.80 per share. The warrant covers 5,000 underlying shares, vests over time beginning April 3, 2025, and is scheduled to expire on July 14, 2034.
Insider Trade Summary 10b5-1
Exercise and Sale: 5,000 shares ($280K approx. pre-tax spread)
Exercise and Sale
8 txns
Insider
Sandler Laura Lee
Role
Chief Operating Officer
Sold
5,000 shs ($319K)
Approx. gross sale proceeds
$319K
Approx. exercise cost
$39K
Approx. pre-tax spread
$280K
| 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 | 2,200 | $62.5843 | $138K |
| Sale | Common Stock | 1,800 | $64.1488 | $115K |
| Sale | Common Stock | 300 | $65.10 | $20K |
| Sale | Common Stock | 400 | $66.055 | $26K |
| Sale | Common Stock | 200 | $67.155 | $13K |
| Sale | Common Stock | 100 | $68.48 | $7K |
Holdings After Transaction:
Employee Warrant (right to buy) — 84,996 contracts (Direct);
Common Stock — 236,984 shares (Direct)
Footnotes (7)
- 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 $62.33 to $62.83, 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 $63.59 to $64.55, inclusive.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $64.85 to $65.28, inclusive.
- F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.85 to $66.23, inclusive.
- F6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.11 to $67.20, inclusive.
- F7. 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
Shares acquired via warrant exercise: 5,000 shares
Warrant exercise price: $7.80 per share
+3 more
6 metrics
Shares sold
5,000 shares
Total common stock sold on May 1, 2026 in open-market transactions
Shares acquired via warrant exercise
5,000 shares
Common stock obtained by exercising employee warrant on May 1, 2026
Warrant exercise price
$7.80 per share
Exercise price for employee warrant covering 5,000 common shares
Sale price ranges
$62.33–$67.20 per share
Weighted-average sale prices across multiple transactions noted in footnotes
Warrant expiration
July 14, 2034
Scheduled expiration date of employee warrant exercised
Net share change from buy/sell
5,000 shares net sold
Transaction summary netBuySellShares for this Form 4
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
"The sales reported in this Form 4 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 Warrant (right to buy) financial
"Employee Warrant (right to buy) ... underlying security title: Common Stock"
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.
open-market sale financial
"transaction_action: open-market sale"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did ORKA’s COO Laura Lee Sandler report on this Form 4?
Laura Lee Sandler reported both sales and an option exercise. She sold a total of 5,000 common shares in open-market transactions and exercised employee warrants to acquire 5,000 common shares at an exercise price of $7.80 per share.
At what prices did the ORKA COO sell Oruka Therapeutics common stock?
The reported sale prices are weighted averages across multiple trades. According to footnotes, shares were sold in ranges including $62.33–$62.83, $63.59–$64.55, $64.85–$65.28, $65.85–$66.23, and $67.11–$67.20 per share.
Was the Oruka Therapeutics (ORKA) COO’s stock sale pre-planned under a Rule 10b5-1 plan?
Yes. A footnote states the sales were effected pursuant to a Rule 10b5-1 trading plan entered into on September 19, 2025. Such plans pre-schedule trades, indicating these sales followed an established trading arrangement rather than ad hoc market timing.
What are the key terms of the employee warrant exercised by the ORKA COO?
The employee warrant covers 5,000 underlying common shares at an exercise price of $7.80 per share. It vests as to one quarter of the shares on April 3, 2025, then in monthly installments, and is scheduled to expire on July 14, 2034.
Does the Form 4 indicate any remaining derivative position for the Oruka Therapeutics COO?
The derivative section shows an Employee Warrant (right to buy) for 5,000 shares being exercised. The derivative summary in the data is empty after this, which indicates no additional derivative positions are reported in this particular filing excerpt.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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