Akero Therapeutics Insider Filing: 30,000-Share Sale by CEO Cheng

Rhea-AI Filing Summary

Akero Therapeutics (AKRO) – Form 4 insider transaction

President & CEO Andrew Cheng reported two open-market sales on 10 July 2025 executed under a previously adopted Rule 10b5-1 trading plan dated 16 Aug 2024.

• 14,686 shares sold at a weighted-average price of $50.57.
• 15,314 shares sold at a weighted-average price of $51.732.
• Total shares sold: 30,000; estimated gross proceeds ≈ $1.53 million based on disclosed averages.
• Post-sale direct holdings: 520,757 common shares (down from 550,757), indicating the CEO retains roughly 94% of his prior stake.

No derivative securities were involved. The filing notes that detailed trade-by-trade pricing is available upon request.

While insider sales can signal caution, the modest size (about 5.5 % of Cheng’s holdings) and the existence of a pre-arranged plan reduce potential negative interpretation. There are no indications of material changes to Akero’s operations or outlook within this filing.

Positive

• Rule 10b5-1 plan adoption shows proactive compliance, reducing litigation and perception risk.
• CEO retains over 520k shares, preserving strong ownership alignment with investors.

Negative

• Insider sale of 30,000 shares may be perceived as reduced confidence, albeit modest.
• No accompanying disclosure clarifies use of proceeds or future trading intentions.

Insights

Securities Analyst

TL;DR: CEO sells 30k shares (≈$1.5 m) under 10b5-1 plan; impact neutral.

The transaction represents a small fraction of Dr. Cheng’s position and was executed through a pre-scheduled plan, limiting signaling value. The remaining 520.8k shares align management incentives with shareholders. No operational data or guidance change accompanies the sale; therefore, it should not materially affect valuation or sentiment absent other news.

Corporate Governance Expert

TL;DR: Planned sale adheres to governance best practices; low risk.

Use of a Rule 10b5-1 plan adopted well in advance demonstrates procedural compliance and mitigates concerns about informational advantage. The CEO’s continued sizable ownership supports alignment. From a governance lens, the filing is routine and not indicative of unrest or strategic shifts.

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^*

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)
07/10/2025

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	07/10/2025		S(1)		14,686	D	$50.57(2)	536,071	D
Common Stock	07/10/2025		S(1)		15,314	D	$51.732(3)	520,757	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

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 $50.03 to $50.98, 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 $51.06 to $52.05, 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.

	/s/ Jonathan Young, Attorney-in-Fact	07/11/2025
	** 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

How many Akero Therapeutics (AKRO) shares did CEO Andrew Cheng sell?

He sold 30,000 common shares in two transactions on 07/10/2025.

At what prices were the AKRO shares sold?

Weighted-average prices were $50.57 for 14,686 shares and $51.732 for 15,314 shares.

Does the CEO still hold shares after this sale?

Yes. Post-transaction, Dr. Cheng directly owns 520,757 AKRO shares.

Was the sale part of a pre-arranged trading plan?

Yes, the filing cites a Rule 10b5-1 plan adopted on 08/16/2024.

Are any derivative securities involved in this Form 4?

No derivative acquisitions or dispositions were reported.