Oruka Therapeutics counsel sells 9,000 shares

The warrant's reported terms include expiration on July 14, 2034, with vesting beginning April 30, 2025.

Rhea-AI Filing Summary

Oruka Therapeutics, Inc. General Counsel Paul T. Quinlan exercised an employee warrant for 9,000 common shares on October 20, 2026, at an exercise price of $7.80 per share. The reported employee-warrant position following the exercise was 70,996 shares. Quinlan also sold 9,000 common shares that day in five transactions; the reported weighted-average prices ranged from $74.9007 to $79.4912 per share. The sales were made under a Rule 10b5-1 trading plan entered into on May 15, 2026.

Insider Trade Summary 10b5-1

Exercise and Sale: 9,000 shares ($637K approx. pre-tax spread)

Exercise and Sale 7 txns

Insider Quinlan Paul T

Role General Counsel

Sold 9,000 shs ($707K)

Approx. gross sale proceeds $707K

Approx. exercise cost $70K

Approx. pre-tax spread $637K

Type	Security	Shares	Price	Value
Exercise	Employee Warrant (right to buy) F7	9,000	$0.00	$0.00
Exercise	Common Stock	9,000	$7.80	$70K
Sale	Common Stock F1, F2	400	$74.9007	$30K
Sale	Common Stock F1, F3	500	$76.118	$38K
Sale	Common Stock F1, F4	1,000	$77.205	$77K
Sale	Common Stock F1, F5	4,100	$78.7895	$323K
Sale	Common Stock F1, F6	3,000	$79.4912	$238K

Holdings After Transaction: Employee Warrant (right to buy) — 70,996 contracts (Direct); Common Stock — 29,995 shares (Direct)

Footnotes (7)

1. F1. These sales were effected pursuant to a Rule 10b5-1 trading plan entered into on May 15, 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 $74.47 to $75.30, 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. F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.61 to $76.42, 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 $76.70 to $77.57, 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 $78.16 to $79.15, inclusive.
6. F6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $79.21 to $79.72, inclusive.
7. F7. The warrant vests as to 1/4 of the underlying shares on April 30, 2025 and as to 1/48 of the underlying shares monthly from April 30, 2025.

Key Figures

Employee warrant exercised: 9,000 shares Exercise price: $7.80 per share Common shares acquired: 9,000 shares +2 more

5 metrics

Employee warrant exercised 9,000 shares October 20, 2026

Exercise price $7.80 per share Employee warrant exercise on October 20, 2026

Common shares acquired 9,000 shares October 20, 2026

Employee-warrant position following exercise 70,996 shares Reported following the October 20, 2026 exercise

Sale tranches and weighted-average prices 400 shares at $74.9007; 500 shares at $76.1180; 1,000 shares at $77.2050; 4,100 shares at $78.7895; 3,000 shares at $79.4912 Common shares sold October 20, 2026; each price is a weighted average per share

Key Terms

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

3 terms

Employee Warrant (right to buy) financial

"Employee Warrant (right to buy)"

Rule 10b5-1 trading plan regulatory

"pursuant to a Rule 10b5-1 trading plan entered into on May 15, 2026"

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many ORKA shares did General Counsel Paul T. Quinlan sell, and at what prices?

Paul T. Quinlan sold 9,000 common shares on October 20, 2026, under a Rule 10b5-1 trading plan entered into May 15, 2026. Reported weighted-average prices were $74.9007 for 400 shares, $76.1180 for 500, $77.2050 for 1,000, $78.7895 for 4,100, and $79.4912 for 3,000. The respective underlying trade-price ranges were $74.47 to $75.30, $75.61 to $76.42, $76.70 to $77.57, $78.16 to $79.15, and $79.21 to $79.72, inclusive.

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

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Available on EDGAR 10/20/2026 - 08:42 PM EDT Accepted by SEC EDGAR 10/20/2026 - 08:42 PM EDT 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^*

Quinlan Paul T

(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)
	General Counsel

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/20/2026

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	10/20/2026		M		9,000	A	$7.8	38,995	D
Common Stock	10/20/2026		S(1)		400	D	$74.9007(2)	38,595	D
Common Stock	10/20/2026		S(1)		500	D	$76.118(3)	38,095	D
Common Stock	10/20/2026		S(1)		1,000	D	$77.205(4)	37,095	D
Common Stock	10/20/2026		S(1)		4,100	D	$78.7895(5)	32,995	D
Common Stock	10/20/2026		S(1)		3,000	D	$79.4912(6)	29,995	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 Warrant (right to buy)	$7.8	10/20/2026		M			9,000	(7)	07/14/2034	Common Stock	9,000	$0	70,996	D

Explanation of Responses:

1. These sales were effected pursuant to a Rule 10b5-1 trading plan entered into on May 15, 2026.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $74.47 to $75.30, 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 $75.61 to $76.42, inclusive.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $76.70 to $77.57, inclusive.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $78.16 to $79.15, inclusive.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $79.21 to $79.72, inclusive.

7. The warrant vests as to 1/4 of the underlying shares on April 30, 2025 and as to 1/48 of the underlying shares monthly from April 30, 2025.

	/s/ Paul Quinlan	10/20/2026
	** 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)