Bicara Therapeutics insider discloses option exercise and planned 5,627-share sale

Rhea-AI Filing Summary

Bicara Therapeutics, Inc. (BCAX) filing a Form 144 discloses a proposed sale of 5,627 common shares with an aggregate market value of $102,242 on 10/08/2025 through UBS Financial Services on NASDAQ. The filing states these shares were acquired the same day, 10/08/2025, by exercise of stock options and paid in cash.

The notice also lists recent sales by the same person: 6,514 shares on 10/06/2025 for $118,356.12 and 18,244 shares on 10/07/2025 for $332,385.61. The filer affirms they do not possess undisclosed material adverse information and includes the standard Rule 10b5-1 representation language where applicable.

Positive

• Timely disclosure of a proposed sale of 5,627 shares on 10/08/2025
• Acquisition and payment shown as an exercise of stock options paid in cash, clarifying source of shares
• Recent sale history includes explicit gross proceeds ($118,356.12 and $332,385.61), improving transparency

Negative

• Multiple near‑term sales (10/06, 10/07, 10/08/2025) may attract investor attention despite small absolute size
• Form does not state a Rule 10b5-1 plan adoption date in the provided remarks section, leaving plan reliance unclear

Insights

Insider Compliance Officer

TL;DR: The filing documents a rule-compliant, disclosed insider sale following option exercise.

The notice records a proposed disposition of 5,627 common shares on 10/08/2025 executed through UBS Financial Services, and confirms acquisition by exercise of stock options with cash payment the same day. The signer makes the required representation about lacking undisclosed material adverse information, which is a core compliance declaration.

Key procedural dependencies include accurate filing timing and whether a pre-existing 10b5-1 plan applies; the form lists space for that information but does not provide a plan adoption date. Watch for any subsequent amendments or Form 4 filings within days that confirm the actual sale execution.

Equity Capital Markets Analyst

TL;DR: Small-volume insider sales and an exercise were disclosed; market impact is likely limited.

The filing shows the proposed sale of 5,627 shares plus two prior sales of 6,514 and 18,244 shares on 10/06/2025 and 10/07/2025, with gross proceeds of $118,356.12 and $332,385.61 respectively. These transactions provide liquidity for the holder after option exercise rather than raising new capital for the company.

Given the disclosed outstanding share count of 54,562,841, the transactions are unlikely to be material to capitalization. Monitor for any follow-up filings that show additional sales or changes in holding within the next trading days.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	UBS Financial Services, Inc. 11 Madison Ave 4th Floor New York NY 10010	5627	102242.00	54562841	10/08/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	10/08/2025	Exercise of stock options	Issuer			5627	10/08/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Ivan Hyep 116 HUNTINGTON AVENUE SUITE 703 BOSTON MA 02116	Common	10/06/2025	6514	118356.12
Ivan Hyep 116 HUNTINGTON AVENUE SUITE 703 BOSTON MA 02116	Common	10/07/2025	18244	332385.61

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the BCAX Form 144 disclose about the proposed sale?

It discloses a proposed sale of 5,627 common shares valued at $102,242 to occur on 10/08/2025 via UBS Financial Services on NASDAQ.

How were the 5,627 BCAX shares acquired?

The shares were acquired on 10/08/2025 by exercise of stock options and payment was made in cash the same day.

Has the filer sold BCAX shares recently?

Yes. The filing lists sales of 6,514 shares on 10/06/2025 for $118,356.12 and 18,244 shares on 10/07/2025 for $332,385.61.

Does the Form 144 include a representation about material nonpublic information?

Yes. The signer represents they do not know any material adverse information about the issuer that has not been publicly disclosed.

Through which broker will the BCAX shares be sold?

The filing names UBS Financial Services, Inc., 11 Madison Ave, New York, NY as the broker for the proposed sale.