Bicara Therapeutics (BCAX) CMO sells 5,500 shares after option exercise

Rhea-AI Filing Summary

Bicara Therapeutics Chief Medical Officer David Raben reported an option exercise and related share sale. He exercised stock options for 5,500 shares of common stock at an exercise price of $3.7898 per share, then sold 5,500 shares in an open-market transaction at a weighted average price of $22.8782 per share.

The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 12, 2025, and occurred through multiple trades between $22.51 and $23.07 per share. Following these transactions, Raben directly holds 55,286 shares of common stock and 41,913 stock options.

Insider Trade Summary 10b5-1

Net Seller: 5,500 shares ($125,830)

Net Sell 3 txns

Insider Raben David

Role Chief Medical Officer

Sold 5,500 shs ($126K)

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	5,500	$0.00	--
Exercise	Common Stock	5,500	$3.7898	$21K
Sale	Common Stock	5,500	$22.8782	$126K

Holdings After Transaction: Stock Option (Right to Buy) — 41,913 shares (Direct, null); Common Stock — 60,786 shares (Direct, null)

Footnotes (1)

1. This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on February 12, 2025. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $22.51 to $23.07, 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. 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: 5,500 shares Sale price (weighted average): $22.8782 per share Options exercised: 5,500 shares +3 more

6 metrics

Shares sold 5,500 shares Open-market sale of common stock on April 27, 2026

Sale price (weighted average) $22.8782 per share Weighted average price for 5,500-share sale

Options exercised 5,500 shares Stock Option (Right to Buy) converted into common stock

Option exercise price $3.7898 per share Conversion price of exercised stock option

Shares held after transactions 55,286 shares Common stock directly owned following Form 4 transactions

Options remaining 41,913 shares Stock options remaining after 5,500-share exercise

Key Terms

Rule 10b5-1 trading plan, Stock Option (Right to Buy, weighted average price

3 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.

Stock Option (Right to Buy financial

"Stock Option (Right to Buy), underlying security title Common Stock, 5,500.0000 shares."

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.

Form 4 Insider Transactions: What Each Field Means →

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^*

Raben David

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Medical Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/27/2026

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	04/27/2026		M(1)		5,500	A	$3.7898	60,786	D
Common Stock	04/27/2026		S(1)		5,500	D	$22.8782(2)	55,286	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	04/27/2026		M(1)			5,500	(3)	08/08/2023	Common Stock	5,500	$0	41,913	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 $22.51 to $23.07, 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	04/28/2026
	** 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)

FAQ

What insider transaction did Bicara Therapeutics (BCAX) report for David Raben?

Bicara Therapeutics reported that Chief Medical Officer David Raben exercised stock options for 5,500 shares and sold 5,500 shares of common stock. The activity reflects an exercise-and-sell pattern disclosed in a Form 4 insider trading report.

How many Bicara Therapeutics (BCAX) shares did David Raben sell, and at what price?

David Raben sold 5,500 shares of Bicara Therapeutics common stock at a weighted average price of $22.8782 per share. The Form 4 notes multiple trades, with sale prices ranging from $22.51 to $23.07 per share, all on the same transaction date.

What stock options did David Raben exercise in this Bicara Therapeutics (BCAX) filing?

Raben exercised a Stock Option (Right to Buy) covering 5,500 shares of Bicara Therapeutics common stock at an exercise price of $3.7898 per share. The option vests in sixteen equal quarterly installments following August 8, 2023, subject to continued service.

How many Bicara Therapeutics (BCAX) shares does David Raben hold after these transactions?

After the reported transactions, David Raben directly holds 55,286 shares of Bicara Therapeutics common stock. He also retains 41,913 stock options following the exercise of 5,500 options, according to the share and option balances stated in the Form 4.

What is the significance of the Rule 10b5-1 trading plan mentioned for Bicara Therapeutics (BCAX)?

The Form 4 notes that Raben’s share sale was executed under a Rule 10b5-1 trading plan adopted on February 12, 2025. Such plans pre-schedule trades, meaning the timing of the 5,500-share sale was determined in advance rather than decided spontaneously.