[Form 4] Bicara Therapeutics Inc. Insider Trading Activity

Rhea-AI Filing Summary

Bicara Therapeutics (BCAX): CEO Form 4 activity. On 10/13/2025 and 10/15/2025, the CEO exercised stock options at $3.7898 per share for 11,445 and 13,289 shares, then sold the same amounts at weighted average prices of $18.9205 and $18.842, respectively. These transactions were executed under a Rule 10b5-1 trading plan adopted on February 12, 2025. Following the trades, the CEO directly owned 309,892 shares. The reported sale prices reflect weighted averages across ranges of $18.73–$19.635 and $18.73–$18.98.

Insights

Equity compensation analyst

Routine 10b5-1 option exercises and associated sales; neutral.

The CEO exercised stock options at an exercise price of $3.7898 on 10/13/2025 (11,445 shares) and 10/15/2025 (13,289 shares), followed by same-day sales at weighted average prices of $18.9205 and $18.842. The filing states these were pursuant to a Rule 10b5-1 plan adopted on February 12, 2025.

The option grants vest in sixteen equal quarterly installments following August 8, 2023, and expire on August 8, 2033, indicating a standard equity award structure. Post‑transaction direct ownership is 309,892 shares. Actual market impact depends on trade size relative to liquidity and is not addressed here.

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^*

Mazumdar Claire

(Last) (First) (Middle)

BICARA THERAPEUTICS INC.

116 HUNTINGTON AVENUE, SUITE 703

(Street)

BOSTON MA 02116

(City) (State) (Zip)

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)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/13/2025

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	10/13/2025		M(1)		11,445	A	$3.7898	321,337	D
Common Stock	10/13/2025		S(1)		11,445	D	$18.9205(2)	309,892	D
Common Stock	10/15/2025		M(1)		13,289	A	$3.7898	323,181	D
Common Stock	10/15/2025		S(1)		13,289	D	$18.842(3)	309,892	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	10/13/2025		M(1)			11,445	(4)	08/08/2033	Common Stock	11,445	$0	314,662	D
Stock Option (Right to Buy)	$3.7898	10/15/2025		M(1)			13,289	(4)	08/08/2033	Common Stock	13,289	$0	301,373	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 $18.73 to $19.635, 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 price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $18.73 to $18.98, 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.

4. 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	10/15/2025
	** 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 did BCAX’s CEO report on Form 4?

Option exercises at $3.7898 on 10/13/2025 and 10/15/2025, followed by sales of 11,445 and 13,289 shares at weighted average prices.

Were the BCAX CEO’s trades under a Rule 10b5-1 plan?

Yes. The transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on February 12, 2025.

How many BCAX shares did the CEO sell and at what prices?

11,445 shares at a weighted average of $18.9205 on 10/13/2025 and 13,289 shares at $18.842 on 10/15/2025.

How many BCAX shares does the CEO own after these trades?

309,892 shares directly following the reported transactions.

What are the terms of the BCAX options exercised?

Exercise price $3.7898; vest in sixteen equal quarterly installments following August 8, 2023; expire on August 8, 2033.

What were the sale price ranges for the weighted averages?

For 10/13/2025, $18.73–$19.635; for 10/15/2025, $18.73–$18.98.