Ashley Hartmann Kline - 27 May 2025 Form 4 Insider Report for PALVELLA THERAPEUTICS, INC. (PVLA)

Role: Chief Commercial Officer
Signature: By: /s/ Kathleen A. McGowan For: Ashley Kline
Issuer symbol: PVLA
Transactions as of: 27 May 2025
Net transactions value: $0
Form type: 4
Filing time: 03 Jun 2025, 21:15:01 UTC
Next filing: 09 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Kline Ashley Hartmann	Chief Commercial Officer	C/O PALVELLA THERAPEUTICS, INC., 125 STRAFFORD AVENUE, SUITE 360, WAYNE	By: /s/ Kathleen A. McGowan For: Ashley Kline	29 May 2025	0002071433

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	PVLA	Incentive Stock Option (right to buy)	Award	$0	+17,436		$0.000000	17,436	27 May 2025	Common Stock	17,436	$22.94	Direct	F1
transaction	PVLA	Non-Qualified Stock Option (right to buy)	Award	$0	+111,496		$0.000000	111,496	27 May 2025	Common Stock	111,496	$22.94	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The option vests 25% on May 27, 2026, with the remaining 75% vesting in 36 equal monthly installments thereafter, subject to the Reporting Person's continued service with the Issuer as of each such vesting date.