SEC FORM 3 SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Kaupinen Wes
(Last) (First) (Middle)
C/O PALVELLA THERAPEUTICS, INC.
125 STRAFFORD AVENUE, SUITE 360
(Street)
WAYNE PA 19087
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
12/13/2024 		3. Issuer Name and Ticker or Trading Symbol
PALVELLA THERAPEUTICS, INC. [ PVLA ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
President & CEO
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 42,940 D
Common Stock 781,409 I by Christine L. Kaupinen 2019 Irrevocable Trust dated February 28, 2019
Common Stock 781,409 I by Wesley H. Kaupinen 2019 Irrevocable Trust dated February 28, 2019
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) (1) 02/22/2033 Common Stock 21,433 $9.79 D
Stock Option (right to buy) (2) 05/27/2034 Common Stock 81,459 $7.53 D
Explanation of Responses:
1. The stock option vests in equal monthly installments over a forty-eight month period. The option was granted on February 23, 2023.
2. The stock option vests in equal monthly installments over a forty-eight month period. The option was granted on May 28, 2024.
/s/ Kathleen A. McGowan, Attorney-in-Fact 12/16/2024
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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