On June 22, 2026, David Lowrance, the Chief Financial Officer of Savara (NASDAQ:SVRA), executed the exercise of 580,187 options on Common Stock followed by the sale of 394,528 shares in the open market, as reported in this SEC Form 4 filing.
Transaction summary Transaction and post-transaction values based on SEC Form 4 weighted average purchase price of $5.68 on June 22, 2026
Key questions – How does this transaction compare to Lowrance’s historical activity? The 394,528-share sale is materially larger than Lowrance’s previous asles, reflecting a liquidity move enabled by option exercises and a reduced remaining share base. – What is the significance of the option exercise and immediate sale structure? Lowrance exercised 580,187 options and immediately sold 394,528 shares, with 185,659 shares withheld for taxes; all shares sold and withheld were related to the option exercise and not to discretionary open-market sales of previously held stock. – What is Lowrance’s ongoing equity exposure after this event?
He continues to hold 536,032 shares of Common Stock directly after the transaction. – How did market conditions relate to the timing of the sale? The transaction occurred as the stock was priced at around $5.68 per share on June 22, 2026, with Savara having delivered a 166.97% one-year return as of that date, suggesting the sale monetized a period of strong share appreciation. Company overview * 1-year performance calculated using June 22, 2026 as the reference date.