Bicara executive sells shares, exercises options

Bicara Therapeutics President and COO Ryan Cohlhepp reported routine transactions in company stock.

Rhea-AI Filing Summary

Bicara Therapeutics President and COO Ryan Cohlhepp reported routine transactions in company stock. On May 15, 2026, he sold a total of 12,500 shares of common stock in open-market trades at a weighted average price of $20.2919 per share under a pre-arranged Rule 10b5-1 trading plan. On the same date, he exercised stock options to acquire 8,000 shares of common stock at an exercise price of $3.7898 per share. Following these transactions, he held 191,641 shares of common stock directly and 101,334 stock options for additional shares.

Insider Trade Summary 10b5-1

Exercise and sale activity reported; no spread calculated

Exercise and Sale 4 txns

Insider Cohlhepp Ryan

Role President and COO

Sold 12,500 shs ($254K)

Approx. gross sale proceeds $254K

Approx. exercise cost $30K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	8,000	$0.00	$0.00
Exercise	Common Stock	8,000	$3.7898	$30K
Sale	Common Stock	8,000	$20.2919	$162K
Sale	Common Stock	4,500	$20.2919	$91K

Holdings After Transaction: Stock Option (Right to Buy) — 101,334 contracts (Direct); Common Stock — 191,641 shares (Direct)

Footnotes (3)

1. F1. This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on February 12, 2025.
2. F2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $20.08 to $20.62, 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 at which the transactions were effected.
3. F3. The shares underlying this option vest in sixteen equal quarterly installments following August 8, 2023, subject to the Reporting Person's continued service on each such vesting date.

Key Figures

Shares sold: 12,500 shares Sale price: $20.2919 per share Options exercised: 8,000 shares +5 more

8 metrics

Shares sold 12,500 shares Open-market sales of common stock on May 15, 2026

Sale price $20.2919 per share Weighted average price for common stock sales

Options exercised 8,000 shares Stock option exercise into common stock on May 15, 2026

Option exercise price $3.7898 per share Exercise price for stock option (Right to Buy)

Common shares held after 191,641 shares Direct common stock holdings following reported transactions

Options held after 101,334 options Remaining stock options after the 8,000-share exercise

10b5-1 plan adoption date February 12, 2025 Date the trading plan governing these sales was adopted

Option expiration August 8, 2033 Expiration date for the exercised stock option grant

Key Terms

Rule 10b5-1 trading plan, weighted average price, Stock Option (Right to Buy), derivative exercise/conversion, +2 more

6 terms

Rule 10b5-1 trading plan regulatory

"This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on February 12, 2025."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Stock Option (Right to Buy) financial

"security_title: "Stock Option (Right to Buy)""

derivative exercise/conversion financial

"transaction_action: "derivative exercise/conversion""

vesting financial

"The shares underlying this option vest in sixteen equal quarterly installments"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Bicara Therapeutics (BCAX) report for Ryan Cohlhepp?

Bicara Therapeutics President and COO Ryan Cohlhepp sold 12,500 shares of common stock and exercised options for 8,000 shares. These trades occurred on May 15, 2026 and were reported as open-market sales and a derivative exercise.

At what prices did Bicara Therapeutics (BCAX) executive transactions occur?

Ryan Cohlhepp’s open-market sales were executed at a weighted average price of $20.2919 per share. He also exercised stock options for 8,000 shares of common stock at an exercise price of $3.7898 per share on the same date.

Were Bicara Therapeutics (BCAX) insider sales made under a Rule 10b5-1 plan?

Yes. The filing states the transactions were executed under a Rule 10b5-1 trading plan adopted on February 12, 2025. Such plans pre-schedule trades, indicating these sales were planned in advance rather than timed discretionarily.

How many Bicara Therapeutics (BCAX) shares does Ryan Cohlhepp hold after the transactions?

After the reported transactions, Ryan Cohlhepp directly held 191,641 shares of Bicara Therapeutics common stock. He also retained 101,334 stock options, which represent rights to buy additional shares subject to their vesting and expiration terms.

What stock options did the Bicara Therapeutics (BCAX) executive exercise?

Ryan Cohlhepp exercised stock options covering 8,000 shares of common stock at a $3.7898 exercise price. The option was labeled “Stock Option (Right to Buy)” and relates to awards vesting in sixteen equal quarterly installments after August 8, 2023.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/18/2026 - 04:24 PM Learn about SEC filing dates

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^*

Cohlhepp Ryan

(Last) (First) (Middle)

BICARA THERAPEUTICS INC.

116 HUNTINGTON AVENUE, SUITE 703

(Street)

BOSTON MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Bicara Therapeutics Inc. [ BCAX ]

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 COO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/15/2026		M(1)		8,000	A	$3.7898	204,141	D
Common Stock	05/15/2026		S(1)		8,000	D	$20.2919(2)	196,141	D
Common Stock	05/15/2026		S(1)		4,500	D	$20.2919(2)	191,641	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)	$3.7898	05/15/2026		M(1)			8,000	(3)	08/08/2033	Common Stock	8,000	$0	101,334	D

Explanation of Responses:

1. This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on February 12, 2025.

2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $20.08 to $20.62, 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 at which the transactions were effected.

3. The shares underlying this option vest in sixteen equal quarterly installments following August 8, 2023, subject to the Reporting Person's continued service on each such vesting date.

Remarks:

	/s/ Lara Meisner, Attorney-in-Fact	05/18/2026
	** 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.
* Form 4: SEC 1474 (03-26)