Venrock Healthcare Capital Partners III, L.P. 4
4 · KalVista Pharmaceuticals, Inc. · Filed Mar 27, 2026
Research Summary
AI-generated summary of this filing
KalVista (KALV) 10% Owner Venrock Sells Shares
What Happened
Venrock Healthcare Capital Partners III, L.P. (a reported 10% owner) sold a total of 214,631 KalVista (KALV) shares in multiple transactions on March 25–26, 2026, disposing of roughly $3.69 million of stock. Transactions listed: 174,485 shares at a weighted avg $16.95 ($2.96M), 160 shares at $17.53 ($2.8K), 21,386 shares at $17.76 ($379.8K), 15,417 shares at $18.82 ($290.1K), and 3,183 shares at $19.12 (~$60.9K). These were reported as sales (code S) and described as open-market or private sales.
Key Details
- Transaction dates: March 25–26, 2026; Form 4 filed March 27, 2026 (filed within the standard 2-business-day window).
- Prices: reported as weighted averages; underlying per-share price ranges disclosed in footnotes (rough ranges $16.51–$19.25 across transactions). Full per-price breakdown available upon request as noted in the filing.
- Shares sold: 214,631; approximate proceeds: $3,691,148.
- Shares owned after transaction: Venrock-affiliated entities together own roughly 5.09–5.13 million KALV shares across VHCP3, VHCP Co-3 and VHCP EG; VHCP3 alone holds ~1.10 million shares (see filing footnotes for exact per-entity totals).
- Footnotes: multiple weighted-average price footnotes (F1, F4–F6, F8–F10) cover price ranges; ownership breakdown and manager disclaimers given (VHCPM3/VHCPMEG and named voting members disclaim direct beneficial ownership except for indirect pecuniary interest).
- Filing timeliness: No late filing indicated.
Context
This is institutional selling by a 10% investor (Venrock) rather than an individual officer or director. Sales like these can be routine portfolio rebalancing or liquidity actions and do not by themselves indicate management sentiment about the company’s operations. The filing provides weighted-average prices and offers to supply the per-transaction price breakdown on request for investors who want more granular detail.
Insider Transaction Report
Form 4Exit
Transactions
- Sale
Common Stock
[F1][F2][F3]2026-03-25$16.95/sh−174,485$2,957,521→ 5,129,500 total(indirect: By Funds) - Sale
Common Stock
[F4][F5][F3]2026-03-25$17.53/sh−160$2,805→ 5,129,340 total(indirect: By Funds) - Sale
Common Stock
[F6][F7][F3]2026-03-26$17.76/sh−21,386$379,815→ 5,107,954 total(indirect: By Funds) - Sale
Common Stock
[F8][F9][F3]2026-03-26$18.82/sh−15,417$290,148→ 5,092,537 total(indirect: By Funds) - Sale
Common Stock
[F10][F11][F3]2026-03-26$19.12/sh−3,183$60,859→ 5,089,354 total(indirect: By Funds)
Footnotes (11)
- [F1]The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $16.51 to $17.50 inclusive. The Reporting Persons undertake 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 securities sold at each separate price within the range set forth in this footnote.
- [F10]The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $19.07 to $19.25 inclusive. The Reporting Persons undertake 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 securities sold at each separate price within the range set forth in this footnote.
- [F11]Consists of (i) 1,096,478 shares held by VHCP3; (ii) 109,684 shares held by VHCP Co-3; and (iii) 3,883,192 shares held by VHCP EG.
- [F2]Consists of (i) 1,105,126 shares held by Venrock Healthcare Capital Partners III, L.P. ("VHCP3"); (ii) 110,550 shares held by VHCP Co-Investment Holdings III,LLC ("VHCP Co-3"); and (iii) 3,913,824 shares held by Venrock Healthcare Capital Partners EG, L.P. ("VHCP EG").
- [F3]VHCP Management III, LLC ("VHCPM3") is the general partner of VHCP3 and the manager of VHCP Co-3 and may be deemed to beneficially own these securities. VHCP Management EG, LLC ("VHCPMEG") is the general partner of VHCPEG and may be deemed to beneficially own these securities. Bong Koh and Nimish Shah are the voting members of VHCPM3 and VHCPMEG and may be deemed to beneficially own these securities. Each of VHCPM3, VHCPMEG and Messrs. Koh and Shah expressly disclaims beneficial ownership over these securities except to the extent of its or his indirect pecuniary interest therein.
- [F4]The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $17.51 to $17.55 inclusive. The Reporting Persons undertake 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 securities sold at each separate price within the range set forth in this footnote.
- [F5]Consists of (i) 1,105,092 shares held by VHCP3; (ii) 110,547 shares held by VHCP Co-3; and (iii) 3,913,701 shares held by VHCP EG.
- [F6]The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $17.07 to $18.06 inclusive. The Reporting Persons undertake 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 securities sold at each separate price within the range set forth in this footnote.
- [F7]Consists of (i) 1,100,485 shares held by VHCP3; (ii) 110,085 shares held by VHCP Co-3; and (iii) 3,897,384 shares held by VHCP EG.
- [F8]The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $18.07 to $19.06 inclusive. The Reporting Persons undertake 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 securities sold at each separate price within the range set forth in this footnote.
- [F9]Consists of (i) 1,097,164 shares held by VHCP3; (ii) 109,752 shares held by VHCP Co-3; and (iii) 3,885,621 shares held by VHCP EG.