Oruka Therapeutics (NASDAQ: ORKA) grants 9,136-share option to Fairmount-managed funds
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Oruka Therapeutics, Inc. reported that investment vehicles managed by Fairmount Funds Management received a new stock option grant linked to its common stock. The option covers 9,136 shares with an exercise price of $55.23 per share and expires on June 1, 2036.
The option vests in equal monthly installments of 1/12 starting on June 2, 2026, contingent on continued service to Oruka Therapeutics. The filing explains that Peter Harwin holds the option for one or more Fairmount-managed funds and must deliver any net cash or stock from the option to Fairmount for those funds’ benefit.
Fairmount, Harwin, and Tomas Kiselak each disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest. The transaction is characterized as a grant or award acquisition of a derivative security, rather than an open-market trade.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Fairmount Funds Management LLC, Fairmount Healthcare Fund II L.P., Fairmount Healthcare Co-Invest III L.P., Harwin Peter Evan, Kiselak Tomas
Role
null | null | null | null | null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to Buy) | 9,136 | $0.00 | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 9,136 shares (Indirect, By: Peter Harwin)
Footnotes (1)
- This option represents a right to purchase 9,136 shares of the Issuer's common stock, which vests as to 1/12 of the option monthly from June 2, 2026, subject to the recipient's continued service to the Issuer. Fairmount Funds Management LLC ("Fairmount") is the investment manager for Fairmount Healthcare Fund II LP ("Fund II") and Fairmount Healthcare Co-Invest III L.P. ("Co-Invest"). Peter Harwin and Tomas Kiselak are the managers of Fairmount. Under Mr. Harwin's arrangement with Fairmount, Mr. Harwin holds the option for one or more investment vehicles managed by Fairmount (each, a "Fairmount Fund"). Mr. Harwin is obligated to turn over to Fairmount any net cash or stock received from the option for the benefit of such Fairmount Fund. Fairmount, Mr. Harwin, and Mr. Kiselak disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.
Key Figures
Option size: 9,136 shares
Exercise price: $55.23 per share
Expiration date: June 1, 2036
+2 more
5 metrics
Option size
9,136 shares
Shares of Oruka Therapeutics common stock underlying the option
Exercise price
$55.23 per share
Conversion or exercise price of the stock option
Expiration date
June 1, 2036
Option expiration for the stock option grant
Vesting schedule
1/12 monthly
Vests monthly from June 2, 2026, over 12 months
Post-grant option holdings
9,136 options
Total derivative shares following the reported transaction
Key Terms
Stock Option (Right to Buy), derivative security, beneficial ownership, pecuniary interest, +1 more
5 terms
Stock Option (Right to Buy) financial
"security_title: "Stock Option (Right to Buy)""
derivative security financial
"The transaction is characterized as a grant or award acquisition of a 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.
beneficial ownership financial
"disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"except to the extent of their pecuniary interest therein"
investment manager financial
"Fairmount Funds Management LLC is the investment manager for Fairmount Healthcare Fund II LP and Fairmount Healthcare Co-Invest III L.P."
FAQ
What are the key terms of the Oruka Therapeutics (ORKA) option grant?
The option covers 9,136 shares at a $55.23 exercise price and expires on June 1, 2036. It vests monthly in 12 equal parts beginning June 2, 2026, conditioned on continued service to Oruka Therapeutics by the recipient.
Who effectively benefits from the new ORKA stock option grant?
The economic benefit is allocated to Fairmount-managed funds. The filing states that Peter Harwin holds the option for one or more Fairmount Funds and must turn over any net cash or stock from the option to Fairmount for those funds’ benefit.
How do Fairmount and its managers report beneficial ownership in this ORKA Form 4?
Fairmount, Peter Harwin, and Tomas Kiselak disclaim beneficial ownership of the reported securities, except for any pecuniary interest. This means they recognize only their economic stake, while clarifying limits on their beneficial ownership position under securities rules.
Is the ORKA Form 4 transaction an open-market buy or sell?
No, the ORKA Form 4 reports a grant or award of a stock option, classified as a derivative security. It is compensation-related, not an open-market purchase or sale of common shares, and therefore carries a different informational signal than discretionary trading.