Bicara Therapeutics (BCAX) President/COO sells 3,631 shares after option exercise

Rhea-AI Filing Summary

Bicara Therapeutics Inc. director and President/COO Ryan Cohlhepp reported a set of transactions on common stock tied to stock options. He exercised stock options for 3,108 shares of common stock at an exercise price of $3.7898 per share. On the same date, he sold a total of 3,631 common shares in open-market transactions at a weighted average price of $18.0395 per share, under a pre-arranged Rule 10b5-1 trading plan adopted on February 12, 2025. After these trades, he directly owned 209,641 shares of Bicara Therapeutics common stock.

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
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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 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)
	President and COO

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026

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	02/25/2026		M(1)		3,108	A	$3.7898	213,272	D
Common Stock	02/25/2026		S(1)		3,108	D	$18.0395(2)	210,164	D
Common Stock	02/25/2026		S(1)		523	D	$18.0395(2)	209,641	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	02/25/2026		M(1)			3,108	(3)	08/08/2033	Common Stock	3,108	$0	138,226	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 $18.00 to $18.14, 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	02/27/2026
	** 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.

FAQ

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

Ryan Cohlhepp exercised options and sold shares. He converted options into 3,108 common shares, then sold a total of 3,631 common shares in open-market trades, all reported on the same transaction date.

How many Bicara Therapeutics (BCAX) shares did the insider sell and at what price?

The insider sold 3,631 common shares. These shares were sold in open-market transactions at a weighted average price of about $18.0395 per share, with individual trade prices ranging from $18.00 to $18.14, inclusive.

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

Yes, the sales were made under a Rule 10b5-1 plan. The filing states the transactions were executed pursuant to a pre-arranged trading plan adopted on February 12, 2025, which automates trades according to preset instructions.

What stock option activity did the Bicara Therapeutics (BCAX) Form 4 disclose?

The Form 4 shows an option exercise. A stock option was exercised for 3,108 underlying shares of common stock. The option vests in sixteen equal quarterly installments following August 8, 2023, subject to the executive’s continued service.

How many Bicara Therapeutics (BCAX) shares does Ryan Cohlhepp hold after these trades?

He reported direct ownership of 209,641 common shares. This total reflects his holdings after exercising options for 3,108 shares and then selling 3,631 shares in the reported open-market transactions.

What roles does Ryan Cohlhepp hold at Bicara Therapeutics (BCAX)?

He is both a director and an executive officer. The filing identifies him as a director and as the company’s President and Chief Operating Officer, making these transactions reportable under insider ownership rules.