Oruka Therapeutics CMO trades shares, exercises options
Oruka Therapeutics Chief Medical Officer Joana Goncalves reported option-related trades and share sales in Oruka Therapeutics, Inc. common stock.
Rhea-AI Filing Summary
Oruka Therapeutics Chief Medical Officer Joana Goncalves reported option-related trades and share sales in Oruka Therapeutics, Inc. common stock. On June 15, 2026, she exercised options and warrants to acquire 7,000 shares at exercise prices of $7.80 and $6.84 per share, and sold 7,947 shares in multiple open-market transactions at weighted-average prices around $68–$71 per share.
Following these transactions, she directly held 32,718 shares of common stock. According to the footnotes, some sales were made under a pre-arranged Rule 10b5-1 trading plan entered into on September 19, 2025, and other sales were automatic sell-to-cover transactions to satisfy tax withholding obligations from vesting restricted stock units, indicating a largely routine, pre-planned liquidity and tax-management pattern.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
8 txns
Insider
Goncalves Joana
Role
Chief Medical Officer
Sold
7,947 shs ($551K)
Approx. gross sale proceeds
$551K
Approx. exercise cost
$51K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 3,500 | $0.00 | $0.00 |
| Exercise | Employee Warrant (right to buy) | 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 | 1,636 | $68.3839 | $112K |
| Sale | Common Stock | 5,064 | $69.4209 | $352K |
| Sale | Common Stock | 300 | $70.6233 | $21K |
| Sale | Common Stock | 947 | $69.69 | $66K |
Holdings After Transaction:
Employee Stock Option (right to buy) — 204,063 contracts (Direct);
Employee Warrant (right to buy) — 175,492 contracts (Direct);
Common Stock — 32,718 shares (Direct)
Footnotes (8)
- F1. Includes 288 shares acquired under the Oruka Therapeutics, Inc. stock purchase plan on June 8, 2026.
- F2. These sales were effected pursuant to a Rule 10b5-1 trading plan entered into on September 19, 2025.
- F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.97 to $68.96, 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 (3), (4) and (5) to this Form 4.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.98 to $69.83, inclusive.
- F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $70.29 to $70.79, inclusive.
- F6. These sales were effected pursuant to Oruka Therapeutics, Inc.'s automatic, non-discretionary, sell-to-cover procedure to satisfy tax withholding obligations arising in connection with the vesting of restricted stock units.
- 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 sold: 7,947 shares
Option and warrant exercises: 7,000 shares
Exercise prices: $7.80 and $6.84 per share
+3 more
6 metrics
Shares sold
7,947 shares
Common stock sales on June 15, 2026
Option and warrant exercises
7,000 shares
Common stock acquired via derivative exercises on June 15, 2026
Exercise prices
$7.80 and $6.84 per share
Employee warrant and stock option exercise prices
Post-transaction holdings
32,718 shares
Direct common stock held after the reported trades
Highest reported sale price
$70.79 per share
Upper end of one weighted-average sale price range
Lowest reported sale price
$67.97 per share
Lower end of one weighted-average sale price range
Key Terms
Rule 10b5-1 trading plan, sell-to-cover, restricted stock units, Employee Stock Option (right to buy), +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"These sales were effected 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.
sell-to-cover financial
"automatic, non-discretionary, sell-to-cover procedure to satisfy tax withholding obligations"
Sell-to-cover is when part of newly issued or exercised company stock is immediately sold to pay required taxes and fees, so the recipient keeps the remaining shares. For investors this matters because it reduces the number of shares insiders or employees actually hold after a grant, can create small, routine share sales that aren’t signal of cashing out, and slightly increases share supply on the market—like selling a portion of a paycheck to cover the tax bill.
restricted stock units financial
"tax withholding obligations arising in connection with the vesting of restricted stock units."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Employee Stock Option (right to buy) financial
"security_title: "Employee Stock Option (right to buy)""
Employee Warrant (right to buy) financial
"security_title: "Employee Warrant (right to buy)""
FAQ
What insider transactions did Oruka Therapeutics (ORKA) report for its CMO?
Oruka Therapeutics reported that Chief Medical Officer Joana Goncalves exercised options and warrants for 7,000 common shares and sold 7,947 shares on June 15, 2026. After these transactions, she directly held 32,718 Oruka Therapeutics common shares.
What stock options or warrants did the Oruka Therapeutics CMO exercise?
She exercised employee options and warrants covering 7,000 Oruka Therapeutics common shares, with exercise prices of $7.80 and $6.84 per share. These derivative awards vest over time, beginning April 18, 2025, according to the vesting footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
