Lawrence Otto Klein, Chief Executive Officer and Director of Oruka Therapeutics, Inc., filed a Form 4 on November 2, 2026, disclosing the exercise of an employee warrant and the sale of 25,000 shares of common stock on that same date pursuant to a Rule 10b5-1 trading plan.

Key Highlights

  • Warrant exercise: Klein exercised an employee warrant (right to buy) covering 25,000 shares of common stock at an exercise price of $7.80 per share on November 2, 2026.
  • Shares sold: Klein disposed of a total of 25,000 shares of common stock across five tranches on November 2, 2026, at weighted average prices ranging from approximately $94.7718 to $98.4033.
  • Rule 10b5-1 plan: According to the filing, the sales were effected pursuant to a Rule 10b5-1 trading plan entered into on May 14, 2026.
  • Remaining direct ownership: Following all reported transactions, Klein directly held 923,128 shares of common stock.
  • Derivative holdings: Following the warrant exercise, Klein retained 1,503,513 derivative securities (employee warrants) beneficially owned directly.
  • Warrant vesting schedule: The filing states the warrant vests as to 1/4 of the underlying shares on April 3, 2025, and as to 1/48 of the underlying shares monthly from April 3, 2025, with an expiration date of July 14, 2034.

Klein Exercises Warrant and Sells Oruka Shares on November 2, 2026

According to the Form 4 filed with the SEC, Lawrence Otto Klein, who serves as both Chief Executive Officer and Director of Oruka Therapeutics, Inc. (NASDAQ:ORKA), reported a series of transactions on November 2, 2026. Klein first exercised an employee warrant covering 25,000 shares of common stock at a conversion price of $7.80 per share, with the price of the derivative security listed as $0. The exercise brought his directly held common stock position to 948,128 shares before the subsequent sales.

Following the warrant exercise, the filing discloses that Klein sold all 25,000 acquired shares across five separate sale transactions on the same date, all conducted under a Rule 10b5-1 trading plan entered into on May 14, 2026. The five tranches involved 6,466 shares at a weighted average of $94.7718 (with individual transaction prices ranging from $94.25 to $95.24), 15,036 shares at a weighted average of $95.6363 (ranging from $95.25 to $96.23), 2,442 shares at a weighted average of $96.7021 (ranging from $96.25 to $97.24), 756 shares at a weighted average of $97.4544 (ranging from $97.30 to $98.12), and 300 shares at a weighted average of $98.4033 (ranging from $98.40 to $98.41).

The filing notes that Klein undertakes to provide full information regarding the number of shares sold at each separate price within those ranges to Oruka Therapeutics, any security holder, or SEC staff upon request. After all transactions, Klein directly held 923,128 shares of common stock and 1,503,513 employee warrants. The Form 4 was signed by Paul Quinlan as attorney-in-fact for Lawrence Klein on November 2, 2026, and the box indicating a Rule 10b5-1(c) compliant plan was checked.

What Was Disclosed

Oruka Therapeutics CEO Lawrence Klein filed a Form 4 reporting the November 2, 2026 exercise of a 25,000-share employee warrant at $7.80 per share and the same-day sale of all 25,000 resulting shares under a pre-established Rule 10b5-1 trading plan, leaving him with 923,128 directly held shares.