Oruka Therapeutics (ORKA) CMO sells 7,000 shares
Rhea-AI Filing Summary
Oruka Therapeutics, Inc. executive Joana Goncalves (Chief Medical Officer) reported a series of equity transactions on August 17, 2026. She exercised 3,500 stock options at $6.84 and 3,500 employee warrants at $7.80 to acquire a total of 7,000 shares of common stock, then sold 7,000 shares in multiple open-market transactions at weighted average prices between approximately $109.05 and $112.86. Following these exercises, she held 197,063 options and 168,492 warrants directly. The sales were effected pursuant to a Rule 10b5-1 trading plan entered into on September 19, 2025.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 7,000 shares ($732K approx. pre-tax spread)
Exercise and Sale
8 txns
Insider
Goncalves Joana
Role
Chief Medical Officer
Sold
7,000 shs ($783K)
Approx. gross sale proceeds
$783K
Approx. exercise cost
$51K
Approx. pre-tax spread
$732K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) F6 | 3,500 | $0.00 | $0.00 |
| Exercise | Employee Warrant (right to buy) F7 | 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 F1, F2 | 900 | $109.6522 | $99K |
| Sale | Common Stock F1, F3 | 300 | $110.5167 | $33K |
| Sale | Common Stock F1, F4 | 3,320 | $112.0138 | $372K |
| Sale | Common Stock F1, F5 | 2,480 | $112.5622 | $279K |
Holdings After Transaction:
Employee Stock Option (right to buy) — 197,063 shares (Direct);
Employee Warrant (right to buy) — 168,492 shares (Direct);
Common Stock — 32,718 shares (Direct)
Footnotes (7)
- F1. These sales 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 $109.05 to $110.04, 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.
- F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $110.27 to $111.00, inclusive.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $111.34 to $112.33, inclusive.
- F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $112.34 to $112.86, inclusive.
- F6. 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.
- F7. 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
Options Exercised: 3,500 shares
Warrants Exercised: 3,500 shares
Shares Sold (Tranche 1): 900 shares at $109.6522
+5 more
8 metrics
Options Exercised
3,500 shares
Employee Stock Option exercised on August 17, 2026 at $6.84 per share
Warrants Exercised
3,500 shares
Employee Warrant exercised on August 17, 2026 at $7.80 per share
Shares Sold (Tranche 1)
900 shares at $109.6522
Open-market sale of common stock on August 17, 2026, weighted average price
Shares Sold (Tranche 2)
300 shares at $110.5167
Open-market sale of common stock on August 17, 2026, weighted average price
Shares Sold (Tranche 3)
3,320 shares at $112.0138
Open-market sale of common stock on August 17, 2026, weighted average price
Shares Sold (Tranche 4)
2,480 shares at $112.5622
Open-market sale of common stock on August 17, 2026, weighted average price
Options Remaining
197,063 options
Employee Stock Options directly held after the option exercise
Warrants Remaining
168,492 warrants
Employee Warrants directly held after the warrant exercise
Key Terms
Rule 10b5-1 trading plan, weighted average price, Employee Stock Option (right to buy), Employee Warrant (right to buy)
4 terms
Rule 10b5-1 trading plan financial
"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)"
Employee Warrant (right to buy) financial
"security_title: Employee Warrant (right to buy)"
FAQ
What did ORKA’s Chief Medical Officer Joana Goncalves do in this Form 4 filing?
Joana Goncalves exercised 7,000 derivative rights (options and warrants) into common stock and then sold 7,000 shares on August 17, 2026. These trades combined derivative exercises with open-market sales, all reported as directly owned transactions.
What options and warrants did Joana Goncalves exercise in the ORKA Form 4?
She exercised 3,500 Employee Stock Options with an exercise price of $6.84 and 3,500 Employee Warrants with an exercise price of $7.80. Each derivative converted into common stock on August 17, 2026.
Were Joana Goncalves’s ORKA stock sales made under a Rule 10b5-1 trading plan?
Yes. A footnote states the sales were effected pursuant to a Rule 10b5-1 trading plan entered into on September 19, 2025. This indicates the sale instructions were pre-arranged under that plan.
What ORKA derivative holdings does Joana Goncalves report after these transactions?
After the reported exercises, she directly holds 197,063 Employee Stock Options and 168,492 Employee Warrants. These figures show remaining derivative rights following the 3,500-option and 3,500-warrant exercises disclosed for August 17, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
