Form 4: Pharvaris CEO Modig Sells Shares Under 10b5-1 Plan

Pharvaris CEO Berndt Modig reported the sale of 23,333 shares of common stock on April 9, 2026, under a pre-arranged trading plan.

Summary

• Berndt Modig, CEO of Pharvaris N.V., sold a total of 23,333 shares of common stock on April 9, 2026.
• These sales were conducted under a Rule 10b5-1 trading plan, which allows for pre-arranged stock transactions.
• The weighted average sale price for the transactions was $27.7352 for 23,133 shares and $28.415 for 200 shares.
• Following these transactions, Modig beneficially owns 142,284 shares directly and 950,000 shares indirectly through Schoodif Management BV.
• The filing also notes that the reported shares include those acquired upon vesting of restricted stock units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. While insider selling can be a negative signal, the execution under a Rule 10b5-1 plan and the CEO's continued substantial holdings suggest it's a routine financial management activity rather than a reflection of negative company outlook.

Positives

• The sales were executed under a Rule 10b5-1 plan, indicating a structured and pre-determined approach to stock disposition, which can mitigate concerns about insider trading.
• The CEO retains a significant beneficial ownership of 142,284 shares directly and 950,000 shares indirectly, suggesting continued commitment to the company.

Negatives

• The CEO sold a notable number of shares, which could be perceived negatively by the market, despite being under a 10b5-1 plan.
• The total value of the shares sold is approximately $650,000 based on the weighted average prices reported.

Risks

• Market perception of insider selling, even under a 10b5-1 plan, can sometimes lead to short-term negative pressure on the stock price.
• The specific reasons for the sale under the 10b5-1 plan are not detailed, leaving room for speculation.

Future Outlook

No specific future outlook or guidance is provided in this Form 4 filing, as it solely reports on past transactions.

Management Comments

• 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.

Industry Context

StockSavvy.ai notes that insider selling, particularly by a CEO, is a common event reported via Form 4 filings. The use of a Rule 10b5-1 plan is a standard practice to diversify or manage personal finances while adhering to insider trading regulations. The market's reaction often depends on the volume of shares sold relative to the insider's total holdings and the company's recent performance and future prospects.

Related Party Transactions

• Berndt Modig is the CEO and a Director of Pharvaris N.V.
• Schoodif Management BV, an entity controlled by Mr. Modig, beneficially owns 950,000 shares.

Stakeholder Impact

• Shareholders: May interpret the sale as a negative signal, although the 10b5-1 plan mitigates this concern. Continued substantial ownership by the CEO should provide some reassurance.
• Employees: Similar to shareholders, the impact is likely minimal given the structured nature of the sale and continued executive ownership.
• Creditors/Suppliers: No direct impact is expected from this transaction.

Next Steps

• The reporting person will provide further details on share sales at specific prices upon request from the SEC, issuer, or security holders.

Key Dates

Keywords

Pharvaris N.V., PHVS, Form 4, Insider Trading, Stock Sale, Rule 10b5-1, Berndt Modig, CEO, Beneficial Ownership, Restricted Stock Units