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

Rhea-AI Filing Summary

Jonathan Young, Chief Operating Officer of Akero Therapeutics (AKRO), filed a Form 4 reporting transactions dated 08/12/2025. The filing shows transactions effected pursuant to a Rule 10b5-1 trading plan dated April 29, 2025. The report records an acquisition of 12,500 common shares (and concomitant acquisition of 12,500 stock option rights with an exercise/conversion price of $21.10) and two sales totaling 12,500 shares sold at weighted-average prices of $47.721 and $48.324, respectively.

Following the reported activity the filing lists 197,484 shares beneficially owned directly and derivative holdings of 69,982 option-related instruments. The filing discloses three irrevocable trusts each holding 20,000 shares for the benefit of the reporting person’s children and states the reporting person disclaims beneficial ownership of those trust shares. The option referenced vests in 48 equal monthly installments commencing December 8, 2021.

Positive

• Transactions effected under a Rule 10b5-1 trading plan, reducing questions about opportunistic insider timing
• Full disclosure of trust holdings and disclaimer for three irrevocable trusts (20,000 shares each)
• Vesting schedule for options disclosed (48 monthly installments commencing December 8, 2021), aiding transparency

Negative

• Insider sales of 12,500 shares executed at weighted-average prices of $47.721 and $48.324, which may be perceived as insider liquidity
• Significant remaining direct holdings (reported 197,484 shares) and 69,982 derivative instruments represent ongoing insider exposure that could influence perceptions of insider alignment

Insights

Securities Analyst

TL;DR: Insider executed matched acquisition and sales under a 10b5-1 plan, leaving direct holdings at ~197k shares; activity appears pre-planned.

The Form 4 shows Jonathan Young used a Rule 10b5-1 plan to effect both an acquisition of 12,500 shares (and related options exercisable at $21.10) and the sale of 12,500 shares across multiple transactions at weighted-average prices near $47.7–$48.3. The matching sizes and the explicit 10b5-1 disclosure reduce inference of opportunistic timing. The report also clarifies indirect holdings via three irrevocable trusts which the reporting person disclaims. For investors, this is informative about insider liquidity actions and remaining direct and derivative exposure.

Corporate Governance Expert

TL;DR: Disclosure is complete and cites a pre-established trading plan; trusts and disclaimers are properly noted.

The filing includes customary governance disclosures: the trading plan date is provided, sales were consummated at specified weighted-average prices with a commitment to provide transaction-level breakdown if requested, and irrevocable trusts are identified with a disclaimer of beneficial ownership. Vesting terms for the option instruments are disclosed (48 monthly installments starting December 8, 2021). From a compliance perspective the Form 4 appears to meet Section 16 transparency expectations.

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^*

Young Jonathan

(Last) (First) (Middle)

C/O AKERO THERAPEUTICS, INC.

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 Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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	08/12/2025		M(1)		12,500	A	$21.1	209,984	D
Common Stock	08/12/2025		S(1)		11,151	D	$47.721(3)	198,833	D
Common Stock	08/12/2025		S(1)		1,349	D	$48.324(4)	197,484	D
Common Stock								20,000	I	By EA Irrevocable Trust(2)
Common Stock								20,000	I	By CM Irrevocable Trust(2)
Common Stock								20,000	I	By JL Irrevocable Trust(2)

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)	$21.1	08/12/2025		M(1)			12,500	(5)	12/07/2031	Common Stock	82,482	$0	69,982	D

Explanation of Responses:

1. The reported transactions were effected pursuant to a Rule 10b5-1 trading plan dated April 29, 2025, previously adopted by the Reporting Person.

2. These shares are held in irrevocable trusts for the benefit of the Reporting Person's children. The Reporting Person's spouse is trustee of the trusts. The Reporting Person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

3. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $47.21 to $48.20, 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 $48.22 to $48.61, 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. This option shall vest and become exercisable in 48 equal monthly installments, commencing on December 8, 2021

	/s/ Jonathan Young	08/13/2025
	** 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.

FAQ

What did Jonathan Young (AKRO) report on Form 4 filed for 08/12/2025?

The filing reports an acquisition of 12,500 common shares and related option activity at an exercise price of $21.10, plus sales totaling 12,500 shares executed at weighted-average prices of $47.721 and $48.324.

Were the transactions by Jonathan Young part of a trading plan?

Yes. The transactions were effected pursuant to a Rule 10b5-1 trading plan dated April 29, 2025, as disclosed in the Form 4.

How many AKRO shares does Jonathan Young beneficially own after these transactions?

The Form 4 reports 197,484 shares beneficially owned directly following the reported transactions.

Does Jonathan Young have indirect holdings disclosed on the Form 4?

Yes. The filing discloses three irrevocable trusts (EA, CM, JL) each holding 20,000 shares for the benefit of his children; the reporting person disclaims beneficial ownership of those trust shares.

What are the terms of the option vesting disclosed in the Form 4?

The option vests in 48 equal monthly installments, commencing on December 8, 2021, as stated in the filing.