[Form 4] Akero Therapeutics, Inc. Insider Trading Activity

Insider Trade Summary

Exercise and Sale: 12,500 shares ($375K approx. pre-tax spread)

Exercise and Sale 5 txns

Insider Rolph Timothy

Role Chief Scientific Officer

Sold 12,500 shs ($639K)

Approx. gross sale proceeds $639K

Approx. exercise cost $264K

Approx. pre-tax spread $375K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	12,500	$0.00	$0.00
Exercise	Common Stock	12,500	$21.09	$264K
Sale	Common Stock	10,634	$50.932	$542K
Sale	Common Stock	1,825	$51.996	$95K
Sale	Common Stock	41	$52.617	$2K

Holdings After Transaction: Stock Option (Right to Buy) — 19,933 contracts (Direct); Common Stock — 167,124 shares (Direct)

Footnotes (5)

1. F1. The reported transactions were effected pursuant to a Rule 10b5-1 trading plan dated August 12, 2024, previously adopted by the Reporting Person.
2. F2. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $50.595 to $51.59, 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 within the ranges set forth in this Footnote.
3. F3. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $51.61 to $52.53, 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 within the ranges set forth in this Footnote.
4. F4. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $52.61 to $52.67, 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 within the ranges set forth in this Footnote.
5. F5. The options are vested and currently exercisable.

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Accepted by SEC EDGAR 07/09/2025 - 07:00 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Rolph Timothy

(Last) (First) (Middle)

601 GATEWAY BOULEVARD

SUITE 350

(Street)

SOUTH SAN FRANCISCO CA 94080

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Akero Therapeutics, Inc. [ AKRO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Scientific Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/07/2025

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/07/2025		M(1)		12,500	A	$21.09	179,624	D
Common Stock	07/07/2025		S(1)		10,634	D	$50.932(2)	168,990	D
Common Stock	07/07/2025		S(1)		1,825	D	$51.996(3)	167,165	D
Common Stock	07/07/2025		S(1)		41	D	$52.617(4)	167,124	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$21.09	07/07/2025		M(1)			12,500	(5)	12/12/2029	Common Stock	12,500	$0	19,933	D

Explanation of Responses:

1. The reported transactions were effected pursuant to a Rule 10b5-1 trading plan dated August 12, 2024, previously adopted by the Reporting Person.

2. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $50.595 to $51.59, 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 within the ranges set forth in this Footnote.

3. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $51.61 to $52.53, 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 within the ranges set forth in this Footnote.

4. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $52.61 to $52.67, 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 within the ranges set forth in this Footnote.

5. The options are vested and currently exercisable.

	/s/ Jonathan Young, Attorney-in-Fact	07/09/2025
	** 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 4 (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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.