Palvella Therapeutics COO sells 4,313 shares

Q: How many PVLA shares did Kathleen Goin sell, and at what prices?

Kathleen Goin sold 4,313 shares on October 21, 2026: 2,043 shares at a weighted average price of $123.6214, 1,663 shares at $125.1645, and 607 shares at $126.1949. The transactions were effected under a Rule 10b5-1 trading plan adopted on August 19, 2025.

The Chief Operating Officer's reported transactions were effected under a Rule 10b5-1 trading plan adopted August 19, 2025.

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Rhea-AI Filing Summary

Palvella Therapeutics, Inc. Chief Operating Officer Kathleen Goin exercised 2,165 options to acquire 2,165 common shares at $7.14 per share and 2,148 options to acquire 2,148 common shares at $9.08 per share on October 21, 2026. She sold 2,043 shares at a weighted average price of $123.6214, 1,663 shares at $125.1645, and 607 shares at $126.1949. The transactions were effected under a Rule 10b5-1 trading plan adopted on August 19, 2025.

Insider Trade Summary 10b5-1

Exercise and Sale: 4,313 shares ($502K approx. pre-tax spread)

Exercise and Sale 7 txns

Insider Goin Kathleen

Role Chief Operating Officer

Sold 4,313 shs ($537K)

Approx. gross sale proceeds $537K

Approx. exercise cost $35K

Approx. pre-tax spread $502K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy) ^{F1, F5}	2,165	$0.00	$0.00
Exercise	Stock Option (Right to Buy) ^{F1, F5}	2,148	$0.00	$0.00
Exercise	Common Stock ^F1	2,165	$7.14	$15K
Exercise	Common Stock ^F1	2,148	$9.08	$20K
Sale	Common Stock ^{F1, F2}	2,043	$123.6214	$253K
Sale	Common Stock ^{F1, F3}	1,663	$125.1645	$208K
Sale	Common Stock ^{F1, F4}	607	$126.1949	$77K

Holdings After Transaction: Stock Option (Right to Buy) — 0 contracts (Direct); Common Stock — 0 shares (Direct)

Footnotes (5)

F1. The transactions reported by the Reporting Person were effected pursuant to a Rule 10b5-1 trading plan adopted on August 19, 2025. 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.
F2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $123.50 to $124.04, 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.
F3. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $124.92 to $125.61, 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.
F4. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $125.92 to $126.518, 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.
F5. The stock option is fully vested.

Key Figures

Options exercised and exercise price: 2,165 options at $7.14 per share Options exercised and exercise price: 2,148 options at $9.08 per share Common shares acquired: 2,165 shares +4 more

7 metrics

Options exercised and exercise price 2,165 options at $7.14 per share October 21, 2026

Options exercised and exercise price 2,148 options at $9.08 per share October 21, 2026

Common shares acquired 2,165 shares October 21, 2026

Common shares acquired 2,148 shares October 21, 2026

Shares sold and weighted average sale price 2,043 shares at $123.6214 per share October 21, 2026

Shares sold and weighted average sale price 1,663 shares at $125.1645 per share October 21, 2026

Shares sold and weighted average sale price 607 shares at $126.1949 per share October 21, 2026

Key Terms

Rule 10b5-1 trading plan, weighted average price, exercise price, Stock Option (Right to Buy)

4 terms

Rule 10b5-1 trading plan regulatory

"pursuant to a Rule 10b5-1 trading plan adopted on August 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.

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.

exercise price financial

"conversion_or_exercise_price"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

Stock Option (Right to Buy) technical

"Stock Option (Right to Buy)"

FAQ

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How many PVLA shares did Kathleen Goin sell, and at what prices?

Kathleen Goin sold 4,313 shares on October 21, 2026: 2,043 shares at a weighted average price of $123.6214, 1,663 shares at $125.1645, and 607 shares at $126.1949. The transactions were effected under a Rule 10b5-1 trading plan adopted on August 19, 2025.

What PVLA options did Kathleen Goin exercise?

On October 21, 2026, Kathleen Goin exercised 2,165 options to acquire 2,165 common shares at $7.14 per share and 2,148 options to acquire 2,148 common shares at $9.08 per share.

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

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Available on EDGAR 10/23/2026 - 04:06 PM EDT Accepted by SEC EDGAR 10/23/2026 - 04:05 PM EDT

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).

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^*

Goin Kathleen

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Operating Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/21/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/21/2026		M⁽¹⁾		2,165	A	$7.14	2,165	D
Common Stock	10/21/2026		M⁽¹⁾		2,148	A	$9.08	4,313	D
Common Stock	10/21/2026		S⁽¹⁾		2,043	D	$123.6214⁽²⁾	2,270	D
Common Stock	10/21/2026		S⁽¹⁾		1,663	D	$125.1645⁽³⁾	607	D
Common Stock	10/21/2026		S⁽¹⁾		607	D	$126.1949⁽⁴⁾	0	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$7.14	10/21/2026		M⁽¹⁾			2,165	⁽⁵⁾	10/29/2029	Common Stock	2,165	$0	0	D
Stock Option (Right to Buy)	$9.08	10/21/2026		M⁽¹⁾			2,148	⁽⁵⁾	10/14/2030	Common Stock	2,148	$0	0	D

Explanation of Responses:

1. The transactions reported by the Reporting Person were effected pursuant to a Rule 10b5-1 trading plan adopted on August 19, 2025. 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. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $123.50 to $124.04, 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.

3. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $124.92 to $125.61, 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 $125.92 to $126.518, 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 stock option is fully vested.

	/s/ Kathleen A. McGowan, Attorney-in-Fact	10/23/2026
	** 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)

Source: View Original Filing on SEC EDGAR