Joana Goncalves - 19 Dec 2025 Form 4 Insider Report for Oruka Therapeutics, Inc. (ORKA)

Role
Chief Medical Officer
Signature
/s/ Paul Quinlan, as attorney-in-fact for Joana Goncalves
Issuer symbol
ORKA
Transactions as of
19 Dec 2025
Net transactions value
-$163,053
Form type
4
Filing time
19 Dec 2025, 17:38:24 UTC
Previous filing
24 Jan 2025
Next filing
16 Jan 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Goncalves Joana Chief Medical Officer C/O ORUKA THERAPEUTICS, INC., 855 OAK GROVE AVE., SUITE 100, MENLO PARK /s/ Paul Quinlan, as attorney-in-fact for Joana Goncalves 19 Dec 2025 0001756991

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ORKA Common Stock Options Exercise $23,940 +3,500 +231% $6.84 5,018 19 Dec 2025 Direct F1
transaction ORKA Common Stock Options Exercise $27,300 +3,500 +70% $7.80 8,518 19 Dec 2025 Direct
transaction ORKA Common Stock Sale $18,289 -641 -7.5% $28.53 7,877 19 Dec 2025 Direct F2, F3
transaction ORKA Common Stock Sale $52,935 -1,787 -23% $29.62 6,090 19 Dec 2025 Direct F2, F4
transaction ORKA Common Stock Sale $45,806 -1,492 -24% $30.70 4,598 19 Dec 2025 Direct F2, F5
transaction ORKA Common Stock Sale $97,263 -3,080 -67% $31.58 1,518 19 Dec 2025 Direct F2, F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ORKA Employee Stock Option (right to buy) Options Exercise $0 -3,500 -1.5% $0.000000 225,063 19 Dec 2025 Common Stock 3,500 $6.84 Direct F7
transaction ORKA Employee Warrant (right to buy) Options Exercise $0 -3,500 -1.8% $0.000000 196,492 19 Dec 2025 Common Stock 3,500 $7.80 Direct F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 Includes 191 shares acquired under the Oruka stock purchase plan on December 8, 2024, 661 shares acquired under the Oruka stock purchase plan on June 8, 2025 and 666 shares acquired under the Oruka stock purchase plan on December 8, 2025.
F2 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan entered into on September 19, 2025.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.14 to $29.12, 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 (3), (4), (5) and (6) to this Form 4.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $29.15 to $30.13, inclusive.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.20 to $31.18, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $31.21 to $32.00, inclusive.
F7 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.
F8 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.