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

Rhea-AI Filing Summary

Akero Therapeutics insider sale by CEO and director Andrew Cheng. The Form 4 reports that Mr. Cheng, who serves as President and CEO and is a company director, executed sales of common stock on 08/11/2025 pursuant to a Rule 10b5-1 trading plan dated August 16, 2024. The filing lists three dispositions of 10,795, 18,805 and 400 shares, each shown as sales, with weighted-average price ranges disclosed in the footnotes.

The footnotes state the shares were sold in multiple transactions at prices ranging $47.40–$48.39, $48.41–$49.39, and $49.43–$49.44, respectively. The report also shows the amount of common stock beneficially owned following the reported transactions as 509,962, 491,157 and 490,757 shares on the corresponding lines. The Form 4 is signed by an attorney-in-fact and identifies the trades as executed under the 10b5-1 plan; no other financial or operational data is included.

Positive

• Sales executed under a Rule 10b5-1 trading plan, indicating the trades were pre-planned and comply with established insider-trading procedures.
• Detailed disclosure of price ranges and share counts in the footnotes provides transparency about execution.

Negative

• Chief executive officer sold shares, which may be perceived negatively by some investors despite being under a trading plan.
• No accompanying company operational or financial context is provided in the filing to explain the timing or rationale beyond the 10b5-1 plan.

Insights

Corporate Governance Expert

TL;DR: CEO sales were executed under a pre-established 10b5-1 plan, which documents compliance but remains material to investors.

The filing shows that Andrew Cheng, President and CEO and a director, disposed of shares on 08/11/2025 under a Rule 10b5-1 plan dated August 16, 2024. The report discloses three separate sale entries with specified share counts and weighted-average price ranges in the footnotes. Because the transactions are pursuant to a pre-existing trading plan, they are procedurally compliant; however, insider sales by a senior executive are informationally relevant to investors and should be considered alongside other disclosures when assessing insider alignment.

Securities Analyst

TL;DR: Routine 10b5-1 sales by the CEO are reported; details provide execution dates, volumes and price ranges but no new operational metrics.

The Form 4 records three dispositions on 08/11/2025 for 10,795; 18,805; and 400 shares, with weighted-average price ranges disclosed in the accompanying footnotes. The filing includes the amounts of common stock beneficially owned following each reported transaction. There are no derivative transactions reported and no additional corporate events disclosed. From a disclosure standpoint, the filing supplies necessary trade specifics without providing performance or forward-looking information.

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)
08/11/2025

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	08/11/2025		S(1)		10,795	D	$48.07(2)	509,962	D
Common Stock	08/11/2025		S(1)		18,805	D	$48.865(3)	491,157	D
Common Stock	08/11/2025		S(1)		400	D	$49.435(4)	490,757	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 $47.40 to $48.39, 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 $48.41 to $49.39, 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 $49.43 to $49.44, 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	08/12/2025
	** 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 insider activity does the AKRO Form 4 report?

The Form 4 reports that Andrew Cheng, President and CEO and a director, sold common stock on 08/11/2025 pursuant to a Rule 10b5-1 plan.

How many shares did the reporting person sell on the Form 4 for AKRO?

The filing lists dispositions of 10,795, 18,805 and 400 shares on the reported transaction lines.

What price ranges were the AKRO shares sold at according to the Form 4?

Footnotes disclose weighted-average price ranges for the sales: $47.40–$48.39, $48.41–$49.39, and $49.43–$49.44.

Was the insider sale part of a pre-established trading plan for AKRO?

Yes. The transactions were effected pursuant to a Rule 10b5-1 trading plan dated August 16, 2024, as stated in the filing.

How much common stock did the reporting person beneficially own after the reported transactions?

The amounts listed following the reported transactions are 509,962, 491,157 and 490,757 shares on the corresponding report lines.