SEC Form 4 · accession 0001104659-26-108930

PALVELLA THERAPEUTICS, INC. · PVLA

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Kathleen Goin

Officer — Chief Operating Officer

Period of report

Sep 16, 2026

Accepted (ET)

Sep 18, 2026 · 4:05 pm EDT

Rule 10b5-1 plan

yes — trade under a plan

Issuer CIK

0001583648

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I
Common Stock	Sep 16, 2026	M	2,154	$7.14	A	2,154	D
Common Stock	Sep 16, 2026	M	2,148	$9.08	A	4,302	D
Common Stock^F2	Sep 16, 2026	S	1,659	$151.1589	D	2,643	D
Common Stock^F3	Sep 16, 2026	S	989	$152.3617	D	1,654	D
Common Stock^F4	Sep 16, 2026	S	1,654	$153.2434	D	0	D

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Option (Right to Buy)^F5	$7.14	Sep 16, 2026	M	2,154	D	—	Oct 29, 2029	Common Stock	2,154	2,165	D
Stock Option (Right to Buy)^F5	$9.08	Sep 16, 2026	M	2,148	D	—	Oct 14, 2030	Common Stock	2,148	2,148	D

Explanation of responses

F1The transactions reported by the Reporting Person were effected pursuant to a Rule 10b5-1 trading plan adopted on August 19, 2025. The plan was adopted during an open trading window, at a time when the Reporting Person was not in possession of material non-public information and was reviewed and approved in accordance with the Issuer's Insider Trading Policy. The Issuer's officers and directors from time to time utilize trading plans to transact in its securities for reasons such as satisfying vesting-related income tax requirements, investment diversification, or other personal reasons.
F2The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $150.755 to $151.74, inclusive. 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 at which the transactions were effected.
F3The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $151.77 to $152.76, inclusive. 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 at which the transactions were effected.
F4The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $152.78 to $153.71, inclusive. 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 at which the transactions were effected.
F5The stock option is fully vested.