Paul K. Audhya - Nov 17, 2023 Form 4 Insider Report for KalVista Pharmaceuticals, Inc. (KALV)

Role: Chief Medical Officer
Signature: /s/ Benjamin L. Palleiko, Attorney-in-Fact
Stock symbol: KALV
Transactions as of: Nov 17, 2023
Transactions value $: -$65,711
Form type: 4
Date filed: 11/21/2023, 04:34 PM
Previous filing: Aug 21, 2023
Next filing: Feb 13, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KALV	Common Stock	Options Exercise		+18.5K	+71.21%		44.6K	Nov 17, 2023	Direct	F1
transaction	KALV	Common Stock	Sale	-$65.7K	-7.99K	-17.92%	$8.23	36.6K	Nov 20, 2023	Direct	F2

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	KALV	Restricted Stock Unit	Options Exercise	$0	-2.42K	-9.09%	$0.00	24.2K	Nov 17, 2023	Common Stock	2.42K		Direct	F1, F3
transaction	KALV	Restricted Stock Unit	Options Exercise	$0	-4.03K	-11.11%	$0.00	32.2K	Nov 17, 2023	Common Stock	4.03K		Direct	F1, F4
transaction	KALV	Performance Stock Unit	Options Exercise	$0	-12.1K	-100%	$0.00^*	0	Nov 17, 2023	Common Stock	12.1K		Direct	F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Class A Common Stock upon settlement for no consideration.
F2	The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs and performance stock units ("PSUs"). The sale was to satisfy tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.
F3	1/16th of the total RSUs subject to the Award shall vest on each quarterly anniversary of the Vesting Commencement Date thereafter, subject to continued service through each vesting date.
F4	1/12th of the total number of shares subject to the RSU shall vest on each quarterly anniversary of the Vesting Commencement Date commencing on November 17, 2022, for a period of three years, subject to continued service through each vesting date.
F5	Each PSU represents a contingent right to receive 1 share of the Issuer's Class A Common Stock upon settlement for no consideration.
F6	Shares earned upon the vesting of a percentage of the PSUs granted to the Reporting Person on June 8, 2023. Each PSU represents a contingent right to receive one share of Issuer common stock upon the Issuer's achievement of Performance Data and Enrollment Metrics goals ("Performance Metrics"). 1/4th of the total number of shares subject to the PSU shall vest on each quarterly anniversary of the Vesting Commencement Date of November 17, 2023, upon Performance Metrics achieved, subject to continued service through each vesting date.