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

Rhea-AI Filing Summary

Akero Therapeutics (AKRO) reported an insider transaction by its President and CEO, who is also a director. On 10/10/2025, the executive exercised 30,000 stock options at an exercise price of $19.87 per share and sold 30,000 shares of common stock at a $53.978 weighted-average price.

The transactions were effected under a Rule 10b5-1 trading plan dated August 16, 2024. Following the sale, the executive held 526,114 shares of common stock directly and 380,017 derivative securities (options) beneficially owned. The option grant vests in 48 equal monthly installments commencing on December 8, 2023.

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

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

1. Name and Address of Reporting Person^*

Cheng Andrew

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
10/10/2025

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	10/10/2025		M(1)		30,000	A	$19.87	556,114	D
Common Stock	10/10/2025		S(1)		30,000	D	$53.978(2)	526,114	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)	$19.87	10/10/2025		M(1)			30,000	(3)	12/07/2033	Common Stock	30,000	$0	380,017	D

Explanation of Responses:

1. The reported transactions were effected pursuant to a Rule 10b5-1 trading plan dated August 16, 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 $53.92 to $54.09, 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. This option shall vest and become exercisable in 48 equal monthly installments, commencing on December 8, 2023.

	/s/ Jonathan Young, Attorney-in-Fact	10/14/2025
	** 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.
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FAQ

What insider transaction did AKRO’s CEO report?

The CEO exercised 30,000 stock options at $19.87 and sold 30,000 shares at a $53.978 weighted-average price on 10/10/2025.

Was the AKRO insider trade under a 10b5-1 plan?

Yes. It was effected pursuant to a Rule 10b5-1 trading plan dated August 16, 2024.

How many AKRO shares does the CEO hold after the transaction?

526,114 shares of common stock were held directly after the reported transactions.

What options remain beneficially owned by the AKRO CEO?

The filing lists 380,017 derivative securities (options) beneficially owned following the transactions.

What is the vesting schedule for the exercised AKRO options?

The option vests in 48 equal monthly installments, commencing on December 8, 2023, and expires on December 7, 2033.

What price range did the AKRO shares sell at?

Sales occurred at multiple prices within a range of $53.92 to $54.09; the reported price is a weighted average of $53.978.