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  4. [Form 4] PALVELLA THERAPEUTICS, INC. Insider Trading Activity

Palvella director sells 27,500 shares in plan

A Palvella Therapeutics director sold 27,500 PVLA shares under a pre-established Rule 10b5-1 trading plan over three trading days.

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Palvella Therapeutics, Inc. (PVLA) director George M. Jenkins reported open-market sales of 27,500 shares of common stock over September 11–15, 2026, at weighted-average prices generally between about $149 and $153 per share. The transactions were effected under a Rule 10b5-1 trading plan adopted on June 12, 2026. Following these transactions, an entity described as Eagles Mere Air Museum Foundation holds 13,516 shares indirectly.

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Insider JENKINS GEORGE M
Role Director
Sold 27,500 shs ($4.17M)
Type Security Shares Price Value
Sale Common Stock F1, F2, F9 954 $149.3779 $143K
Sale Common Stock F1, F2, F10 263 $150.4045 $40K
Sale Common Stock F1, F2, F11 560 $151.3263 $85K
Sale Common Stock F1, F2, F6 5,632 $151.4625 $853K
Sale Common Stock F1, F2, F7 6,160 $152.1159 $937K
Sale Common Stock F1, F2, F8 1,560 $153.099 $239K
Sale Common Stock F1, F2, F3 6,520 $150.6189 $982K
Sale Common Stock F1, F2, F4 4,577 $151.7157 $694K
Sale Common Stock F1, F2, F5 1,274 $153.0591 $195K
holding Common Stock F12 -- -- --
Holdings After Transaction: Common Stock — 160,116 shares (Direct); Common Stock — 13,516 shares (Indirect, By foundation)
Footnotes (12)
  1. F1. The transactions reported by the Reporting Person were effected pursuant to a Rule 10b5-1 trading plan adopted on June 12, 2026. The plan was adopted during an open trading window, at a time when the Reporting Person was not in possession of material non-public information and was reviewed and approved in accordance with the Issuer's Insider Trading Policy. The Issuer's officers and directors from time to time utilize trading plans to transact in its securities for reasons such as satisfying vesting-related income tax requirements, investment diversification, or other personal reasons.
  2. F2. Any profit required to be disgorged under Section 16 of the Securities Exchange Act of 1934, as amended, with respect to an aggregate of 445 shares sold in the transactions reported on this Form 4 will be disgorged to the Issuer pursuant to applicable requirements.
  3. F3. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $150.23 to $151.18, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
  4. F4. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $151.23 to $152.09, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
  5. F5. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $152.42 to $153.30, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
  6. F6. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $150.80 to $151.785, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
  7. F7. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $151.80 to $152.70, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
  8. F8. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $152.88 to $153.34, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
  9. F9. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $148.90 to $149.50, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
  10. F10. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $150.0525 to $151.0225, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
  11. F11. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $151.16 to $151.65, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
  12. F12. Eagles Mere Air Museum Foundation.
Shares sold 27,500 shares Total common shares sold by the director across all reported transactions
Sale dates September 11–15, 2026 Period over which the reported open-market sales occurred
Representative weighted-average prices $149.38, $150.40, $151.33 per share Example weighted-average prices from three of the reported sale blocks
Overall sale price range $148.90–$153.34 per share Lowest and highest prices in the ranges disclosed for the sale blocks
Indirect holdings 13,516 shares Common shares held indirectly "By foundation" after the reported transactions
Section 16 disgorgement shares 445 shares Aggregate shares whose profit, if required, will be disgorged to the issuer
Rule 10b5-1 plan adoption date June 12, 2026 Date the trading plan governing these transactions was adopted
Rule 10b5-1 trading plan regulatory
"The transactions reported by the Reporting Person 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.
Section 16 of the Securities Exchange Act of 1934, as amended regulatory
"Any profit required to be disgorged under Section 16 of the Securities Exchange Act of 1934, as amended"
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.
disgorged regulatory
"will be disgorged to the Issuer pursuant to applicable requirements"
insider trading policy regulatory
"and was reviewed and approved in accordance with the Issuer's Insider Trading Policy"
A written set of rules that tells employees, executives and board members what information they may not use to buy or sell a company's stock and when trading is allowed. Think of it as a playbook or house rules that prevent people with secret knowledge from getting an unfair advantage; it matters to investors because it helps protect fair markets, preserves trust in management, and reduces the risk of legal penalties that can hurt a company’s value.

FAQ

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

What insider trading activity did PVLA report for director George M. Jenkins?
Palvella Therapeutics reported that director George M. Jenkins sold 27,500 shares of common stock in open-market transactions on September 11, 14 and 15, 2026, at weighted-average prices in the high-$140s to low-$150s per share.

Was the September 2026 PVLA insider selling done under a Rule 10b5-1 plan?
Yes. The filing states the transactions were effected under a Rule 10b5-1 trading plan adopted on June 12, 2026 during an open trading window and reviewed and approved in accordance with Palvella Therapeutics’ insider trading policy.

What price ranges were PVLA shares sold at in these Form 4 transactions?
Each reported per-share price is a weighted average. Footnotes state the shares were sold in multiple trades at prices ranging from about $148.90 to $153.34 per share across the different transaction blocks.

How many PVLA shares remain held indirectly after these transactions?
A holding entry shows 13,516 shares of Palvella Therapeutics common stock are held indirectly, with the nature of ownership described as “By foundation” and identified in a footnote as Eagles Mere Air Museum Foundation.

What Section 16 disgorgement did the PVLA Form 4 disclose?
The filing notes that any profit required to be disgorged under Section 16 of the Exchange Act with respect to an aggregate of 445 shares sold in the reported transactions will be disgorged to Palvella Therapeutics pursuant to applicable requirements.

Are the reported PVLA sale prices exact or averages for each transaction block?
The filing explains that each price in Column 4 is a weighted average price. For each block, shares were sold in multiple transactions within stated price ranges, and detailed trade information is available upon request.

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

Form 4 Insider Transactions: What Each Field Means →
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SEC Form 4
FORM 4UNITED 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*
JENKINS GEORGE M
(Last)(First)(Middle)
C/O PALVELLA THERAPEUTICS, INC.
353 W. LANCASTER AVENUE, SUITE 200
(Street)
WAYNE PENNSYLVANIA 19087
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
PALVELLA THERAPEUTICS, INC. [ PVLA ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/11/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock09/11/2026S(1)(2)6,520D$150.6189(3)181,096D
Common Stock09/11/2026S(1)(2)4,577D$151.7157(4)176,519D
Common Stock09/11/2026S(1)(2)1,274D$153.0591(5)175,245D
Common Stock09/14/2026S(1)(2)5,632D$151.4625(6)169,613D
Common Stock09/14/2026S(1)(2)6,160D$152.1159(7)163,453D
Common Stock09/14/2026S(1)(2)1,560D$153.099(8)161,893D
Common Stock09/15/2026S(1)(2)954D$149.3779(9)160,939D
Common Stock09/15/2026S(1)(2)263D$150.4045(10)160,676D
Common Stock09/15/2026S(1)(2)560D$151.3263(11)160,116D
Common Stock13,516IBy foundation(12)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The transactions reported by the Reporting Person were effected pursuant to a Rule 10b5-1 trading plan adopted on June 12, 2026. The plan was adopted during an open trading window, at a time when the Reporting Person was not in possession of material non-public information and was reviewed and approved in accordance with the Issuer's Insider Trading Policy. The Issuer's officers and directors from time to time utilize trading plans to transact in its securities for reasons such as satisfying vesting-related income tax requirements, investment diversification, or other personal reasons.
2. Any profit required to be disgorged under Section 16 of the Securities Exchange Act of 1934, as amended, with respect to an aggregate of 445 shares sold in the transactions reported on this Form 4 will be disgorged to the Issuer pursuant to applicable requirements.
3. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $150.23 to $151.18, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
4. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $151.23 to $152.09, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
5. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $152.42 to $153.30, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
6. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $150.80 to $151.785, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
7. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $151.80 to $152.70, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
8. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $152.88 to $153.34, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
9. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $148.90 to $149.50, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
10. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $150.0525 to $151.0225, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
11. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $151.16 to $151.65, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
12. Eagles Mere Air Museum Foundation.
/s/ Kathleen A. McGowan, Attorney-in-Fact09/15/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

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