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

Rhea-AI Filing Summary

Akero Therapeutics insider transaction summary: Chief Scientific Officer Timothy Rolph executed multiple transactions on 09/08/2025 under a Rule 10b5-1 trading plan. The Form 4 reports sales totaling 12,500 common shares (12,466 shares at a weighted-average price of $44.169 and 34 shares at $44.875) and three option-related acquisitions recorded as M(1) exchanges: 7,044 option rights with $21.09 strike, 5,161 option rights with $6.364 strike, and 295 option rights with $28.35 strike. Following the transactions, Rolph beneficially owned 167,124 common shares (direct). The filing notes the options are vested and exercisable and that the trades were effected pursuant to a 10b5-1 plan dated August 12, 2024.

Positive

• Transactions executed under a documented Rule 10b5-1 plan, indicating pre-established, compliant trading procedures
• Options reported are vested and exercisable, meaning no new vesting cliff or special acceleration is disclosed

Negative

• Insider sold 12,500 shares in multiple transactions, which increases insider liquidity and could create modest downward pressure on float if larger holders follow
• Reported sales occurred at prices up to $44.875, creating realized insider selling at then-prevailing market levels

Insights

Corporate Governance Expert

TL;DR: Insider sold a modest number of shares under a documented 10b5-1 plan while receiving vested options, consistent with routine compensation management.

The Form 4 shows the Chief Scientific Officer used a pre-established Rule 10b5-1 plan to sell 12,500 shares at a weighted-average price near $44.17 and to register option-related transactions that add vested exercisable option rights. Use of a dated 10b5-1 plan and attorney-in-fact signature indicate procedural compliance and an attempt to insulate trades from contemporaneous insider information. From a governance standpoint, these disclosed actions appear routine rather than signaling an emergent governance concern.

Securities Analyst

TL;DR: Transactions are neutral for valuation: modest share sales and issuance/recording of vested options change insider liquidity but not clearly material to firm fundamentals.

The reporting shows sales of 12,500 shares representing a small portion of the officer's total post-transaction stake (167,124 shares). Simultaneously, the filing records acquisition/recognition of 12,500 option rights across three strikes ($6.364, $21.09, $28.35) that are vested/exercisable, which can affect future dilution if exercised. Absent other material events or larger scale transfers, these movements are unlikely to materially alter cap structure or signal change in business prospects.

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)
09/08/2025

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	09/08/2025		M(1)		7,044	A	$21.09	174,168	D
Common Stock	09/08/2025		M(1)		5,161	A	$6.364	179,329	D
Common Stock	09/08/2025		M(1)		295	A	$28.35	179,624	D
Common Stock	09/08/2025		S(1)		12,466	D	$44.169(2)	167,158	D
Common Stock	09/08/2025		S(1)		34	D	$44.875	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	09/08/2025		M(1)			7,044	(3)	12/12/2029	Common Stock	7,044	$0.00	389	D
Stock Option (Right to Buy)	$28.35	09/08/2025		M(1)			295	(3)	12/07/2030	Common Stock	295	$0.00	62,445	D
Stock Option (Right to Buy)	$6.364	09/08/2025		M(1)			5,161	(3)	01/15/2029	Common Stock	5,161	$0.00	0	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 $43.855 to $44.72, 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 options are vested and currently exercisable.

	/s/ Jonathan Young, Attorney-in-Fact	09/10/2025
	** 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

Who filed this Form 4 for Akero Therapeutics (AKRO)?

Timothy Rolph, Chief Scientific Officer, filed the Form 4 via attorney-in-fact on 09/10/2025 for transactions dated 09/08/2025.

What transactions did the reporting person make on 09/08/2025?

Sales: 12,466 shares at a weighted-average $44.169 and 34 shares at $44.875; Option-related acquisitions: 7,044, 5,161, and 295 option rights recorded.

Were the trades part of a pre-arranged plan?

Yes. The filing states the transactions were effected pursuant to a Rule 10b5-1 trading plan dated August 12, 2024.

How many shares does Timothy Rolph beneficially own after these transactions?

167,124 shares reported as beneficially owned following the transactions.

Are the reported options exercisable and what are the strikes?

Yes. Options are vested and exercisable with strikes of $6.364, $21.09, and $28.35 as reported.