Bicara Therapeutics (BCAX) CFO exercises options and sells 9,200 shares under 10b5-1 plan

Rhea-AI Filing Summary

Bicara Therapeutics Inc. Chief Financial Officer Hyep Ivan exercised stock options and sold shares in a pre-planned transaction. On March 23, 2026, he exercised options for 9,200 shares of common stock at an exercise price of $3.7898 per share, then sold the same 9,200 shares at a weighted average price of $18.5161 per share in multiple trades between $18.15 and $18.84. The sale was carried out under a Rule 10b5-1 trading plan adopted on February 13, 2025, indicating the trades were pre-scheduled rather than opportunistic. Following these transactions, Ivan directly owned 145,355 shares of Bicara Therapeutics common stock. The exercised options were part of a grant vesting in sixteen equal quarterly installments after April 5, 2023 and are scheduled to expire on April 5, 2033.

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^*

Hyep Ivan

(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 Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

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	03/23/2026		M(1)		9,200	A	$3.7898	154,555	D
Common Stock	03/23/2026		S(1)		9,200	D	$18.5161(2)	145,355	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	03/23/2026		M(1)			9,200	(3)	04/05/2033	Common Stock	9,200	$0	48,944	D

Explanation of Responses:

1. This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on February 13, 2025.

2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $18.15 to $18.84, 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 April 5, 2023, subject to the Reporting Person's continued service on each such vesting date.

Remarks:

	/s/ Lara Meisner, Attorney-in-Fact	03/24/2026
	** 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 its CFO?

Bicara’s CFO, Hyep Ivan, exercised options for 9,200 shares and sold 9,200 common shares. The sale followed a pre-arranged Rule 10b5-1 plan, indicating a scheduled liquidity event rather than an unexpected discretionary trade.

How many Bicara Therapeutics (BCAX) shares does the CFO hold after this Form 4?

After the reported transactions, CFO Hyep Ivan directly owns 145,355 Bicara Therapeutics common shares. This reflects his remaining equity stake following the 9,200-share option exercise and corresponding 9,200-share sale disclosed in the Form 4 filing.

At what prices did the Bicara Therapeutics (BCAX) CFO transact his shares?

The CFO exercised options at an exercise price of $3.7898 per share and sold 9,200 shares at a weighted average price of $18.5161. Actual sale trades occurred in a range between $18.15 and $18.84 per share.

Was the Bicara Therapeutics (BCAX) CFO sale made under a Rule 10b5-1 plan?

Yes. The filing states the transaction was executed under a Rule 10b5-1 trading plan adopted on February 13, 2025. Such plans pre-schedule trades, reducing the informational value of the timing of the sale for investors.

What options did the Bicara Therapeutics (BCAX) CFO exercise in this filing?

The CFO exercised stock options covering 9,200 shares of common stock at a $3.7898 exercise price. The underlying option grant vests in sixteen equal quarterly installments after April 5, 2023 and is scheduled to expire on April 5, 2033.

Does this Bicara Therapeutics (BCAX) Form 4 indicate any remaining options for the CFO?

The disclosed data show the 9,200-share option exercise with no remaining derivative positions listed in the derivative summary. This suggests that, within this specific filing’s scope, there are no additional unexercised derivative securities reported for the CFO.