Kathleen Goin, Chief Operating Officer of Palvella Therapeutics, Inc. (NASDAQ:PVLA), filed a Form 4 on August 20, 2026, disclosing the exercise of stock options and sale of common stock on August 19, 2026, pursuant to a Rule 10b5-1 trading plan.

Key Highlights

  • Option exercises: Goin exercised 2,154 stock options at $7.14 per share and 2,148 stock options at $9.08 per share, both fully vested, on August 19, 2026.
  • Shares sold: A total of 4,302 shares of common stock were sold across five separate transactions at weighted average prices ranging from approximately $151.39 to $156.77 per share.
  • Zero shares remaining: Following all reported transactions, Goin's direct beneficial ownership of common stock stood at 0 shares.
  • 10b5-1 plan: According to the filing, all transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on August 19, 2025, during an open trading window.
  • Remaining derivative holdings: After the exercises, Goin retained 4,319 stock options expiring October 29, 2029, and 4,296 stock options expiring October 14, 2030, both directly held.
  • Plan rationale disclosed: The filing states the plan was adopted when the reporting person "was not in possession of material non-public information" and was reviewed under the issuer's Insider Trading Policy.

Palvella Therapeutics COO Stock Option Exercises and Open-Market Sales Disclosed

According to the Form 4 filed with the SEC on August 20, 2026, Kathleen Goin, identified as Chief Operating Officer of Palvella Therapeutics, Inc., reported two option exercise transactions (transaction code "M") and five open-market sale transactions (transaction code "S") on August 19, 2026. The filing indicates all transactions were conducted under a Rule 10b5-1 trading plan that was adopted on August 19, 2025.

The two option exercises involved 2,154 shares at an exercise price of $7.14 and 2,148 shares at an exercise price of $9.08, with both sets of options noted as fully vested. The filing reports the price of the derivative security for both exercises as $0. The five subsequent sale transactions disposed of a combined 4,302 shares. Reported weighted average sale prices were $151.39 for 1,500 shares, $151.7979 for 1,998 shares, $152.9975 for 400 shares, $155.5898 for 102 shares, and $156.77 for 302 shares. Several of the weighted average prices reflect sales executed across narrow intraday price ranges, with full per-share breakdowns available upon request to the issuer, any security holder, or SEC staff, as stated in the filing.

Following all reported transactions, Goin held 0 shares of common stock directly. The filing discloses that remaining derivative holdings consist of 4,319 stock options expiring October 29, 2029, and 4,296 stock options expiring October 14, 2030. The filing notes that officers and directors of the issuer "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."

What Was Disclosed

Palvella Therapeutics COO Kathleen Goin disclosed the exercise of 4,302 fully vested stock options and the same-day sale of 4,302 shares of common stock on August 19, 2026, under a pre-established 10b5-1 plan, leaving zero directly held common shares.