[Form 4] Bicara Therapeutics Inc. Insider Trading Activity

Bicara Therapeutics Inc. (BCAX) reported insider transactions by its Chief Financial Officer on Form 4.

Rhea-AI Filing Summary

Bicara Therapeutics Inc. (BCAX) reported insider transactions by its Chief Financial Officer on Form 4. On November 21, 2025, the CFO exercised 605 stock options at $3.7898 per share and sold 605 shares of common stock at a price of $18.15 per share. On November 24, 2025, the CFO exercised an additional 17,795 options at $3.7898 and sold 17,795 shares at a weighted average price of $18.5498, with sales occurring between $18.15 and $18.84. After these trades, the CFO beneficially owned 145,355 shares of common stock directly and held 98,184 stock options. The transactions were carried out under a Rule 10b5-1 trading plan adopted on February 13, 2025.

Insider Trade Summary

Exercise and Sale: 18,400 shares ($271K approx. pre-tax spread)

Exercise and Sale 6 txns

Insider Hyep Ivan

Role Chief Financial Officer

Sold 18,400 shs ($341K)

Approx. gross sale proceeds $341K

Approx. exercise cost $70K

Approx. pre-tax spread $271K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	17,795	$0.00	$0.00
Exercise	Common Stock	17,795	$3.7898	$67K
Sale	Common Stock	17,795	$18.5498	$330K
Exercise	Stock Option (Right to Buy)	605	$0.00	$0.00
Exercise	Common Stock	605	$3.7898	$2K
Sale	Common Stock	605	$18.15	$11K

Holdings After Transaction: Stock Option (Right to Buy) — 98,184 contracts (Direct); Common Stock — 145,355 shares (Direct)

Footnotes (3)

1. F1. This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on February 13, 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 $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. 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.

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Accepted by SEC EDGAR 11/25/2025 - 06:42 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^*

Hyep Ivan

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

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	11/21/2025		M(1)		605	A	$3.7898	145,960	D
Common Stock	11/21/2025		S(1)		605	D	$18.15	145,355	D
Common Stock	11/24/2025		M(1)		17,795	A	$3.7898	163,150	D
Common Stock	11/24/2025		S(1)		17,795	D	$18.5498(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	11/21/2025		M(1)			605	(3)	08/08/2033	Common Stock	605	$0	115,979	D
Stock Option (Right to Buy)	$3.7898	11/24/2025		M(1)			17,795	(3)	08/08/2033	Common Stock	17,795	$0	98,184	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 August 8, 2023, subject to the Reporting Person's continued service on each such vesting date.

Remarks:

	/s/ Lara Meisner, Attorney-in-Fact	11/25/2025
	** 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.