Bicara Therapeutics (BCAX) COO exercises options, sells 28,750 shares under plan

Rhea-AI Filing Summary

Bicara Therapeutics Inc. director and President & COO Ryan Cohlhepp reported an exercise-and-sell transaction in company common stock. On July 8, 2026, he exercised stock options covering 18,750 shares of common stock at an exercise price of $3.7898 per share and received the underlying shares. On July 8–9, 2026, he executed open‑market sales totaling 28,750 shares at weighted average prices including $28.7589, $29.7961, $30.3549, and $29.00 per share. Following these transactions, he held 181,641 shares of common stock directly and 70,502 stock options directly. The sales were carried out under a pre‑arranged Rule 10b5-1 trading plan adopted on March 31, 2026.

Insights

Equity compensation & insider-transactions analyst

Pre-planned option exercise with net share sale, while retaining a sizeable equity stake.

President & COO Ryan Cohlhepp exercised stock options for 18,750 shares at an exercise price of $3.7898 on July 8, 2026, then sold 28,750 shares in open-market trades on July 8–9, 2026. The reported sale prices include weighted averages of $28.7589, $29.7961, $30.3549, and $29.00, with detailed price ranges disclosed in the footnotes.

The transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on March 31, 2026, indicating they were pre-scheduled rather than discretionary market-timed trades. After these moves, Cohlhepp directly holds 181,641 common shares and 70,502 stock options expiring on April 5, 2033, so he maintains significant equity exposure while realizing some liquidity.

Insider Trade Summary 10b5-1

Net Seller: 28,750 shares ($833,129)

Net Sell 6 txns

Insider Cohlhepp Ryan

Role President and COO

Sold 28,750 shs ($833K)

Type	Security	Shares	Price	Value
Sale	Common Stock	536	$29.00	$16K
Exercise	Stock Option (Right to Buy)	18,750	$0.00	--
Exercise	Common Stock	18,750	$3.7898	$71K
Sale	Common Stock	22,833	$28.7589	$657K
Sale	Common Stock	4,306	$29.7961	$128K
Sale	Common Stock	1,075	$30.3549	$33K

Holdings After Transaction: Common Stock — 181,641 shares (Direct, null); Stock Option (Right to Buy) — 70,502 shares (Direct, null)

Footnotes (1)

1. This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on March 31, 2026. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $28.21 to $29.15, 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 price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $29.23 to $30.20, 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 price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $30.25 to $30.50, 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 April 5, 2023, subject to the Reporting Person's continued service on each such vesting date.

Key Figures

Shares sold: 28,750 shares Option shares exercised: 18,750 shares Option exercise price: $3.7898 per share +4 more

7 metrics

Shares sold 28,750 shares Total common shares sold in open-market transactions on July 8–9, 2026

Option shares exercised 18,750 shares Common shares acquired via stock option exercise on July 8, 2026

Option exercise price $3.7898 per share Exercise price of stock option (right to buy) converted on July 8, 2026

Post-transaction common holdings 181,641 shares Common stock directly owned after July 9, 2026 transactions

Post-transaction option holdings 70,502 options Stock options directly owned after the reported option exercise

Sale price examples $28.7589–$30.3549 Representative weighted average sale prices for common stock sold July 8–9, 2026

Option expiration date April 5, 2033 Expiration date of the stock option exercised for 18,750 shares

Key Terms

Rule 10b5-1 trading plan, weighted average price, Stock Option (Right to Buy), vest in sixteen equal quarterly installments

4 terms

Rule 10b5-1 trading plan regulatory

"This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on March 31, 2026."

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.

weighted average price financial

"The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions..."

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.

Stock Option (Right to Buy) financial

"security_title": "Stock Option (Right to Buy)""

vest in sixteen equal quarterly installments financial

"The shares underlying this option vest in sixteen equal quarterly installments following April 5, 2023..."

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/10/2026 - 04:11 PM Accepted by SEC EDGAR 07/10/2026 - 04:10 PM Learn about SEC filing dates

FAQ

What did Bicara Therapeutics (BCAX) executive Ryan Cohlhepp report in this Form 4?

Ryan Cohlhepp, President and COO of Bicara Therapeutics, reported exercising stock options for 18,750 shares at $3.7898 per share and selling 28,750 shares of common stock in open-market transactions on July 8–9, 2026.

How many BCAX shares did Ryan Cohlhepp sell and at what prices?

Ryan Cohlhepp sold 28,750 BCAX shares in open-market trades at weighted average prices including $28.7589, $29.7961, $30.3549, and $29.00 per share, with detailed sales price ranges disclosed in the Form 4 footnotes.

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

After the reported transactions, Ryan Cohlhepp directly holds 181,641 shares of Bicara Therapeutics common stock and 70,502 stock options, as disclosed in the Form 4 ownership tables following the July 8–9, 2026 trades.

Were Ryan Cohlhepp’s BCAX stock sales under a Rule 10b5-1 plan?

Yes. A Form 4 footnote states the transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on March 31, 2026, indicating the sales were pre-arranged rather than opportunistic market-timed trades.

What is the exercise price and expiry of the BCAX options exercised by Ryan Cohlhepp?

The stock options exercised by Ryan Cohlhepp covered 18,750 shares of BCAX at an exercise price of $3.7898 per share, with the option expiring on April 5, 2033, according to the derivative security section.

How do Ryan Cohlhepp’s BCAX stock options vest according to this filing?

A Form 4 footnote explains that the shares underlying the reported option vest in sixteen equal quarterly installments following April 5, 2023, subject to Ryan Cohlhepp’s continued service on each vesting date.

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^*

Cohlhepp Ryan

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and COO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/08/2026

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	07/08/2026		M(1)		18,750	A	$3.7898	210,391	D
Common Stock	07/08/2026		S(1)		22,833	D	$28.7589(2)	187,558	D
Common Stock	07/08/2026		S(1)		4,306	D	$29.7961(3)	183,252	D
Common Stock	07/08/2026		S(1)		1,075	D	$30.3549(4)	182,177	D
Common Stock	07/09/2026		S(1)		536	D	$29	181,641	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	07/08/2026		M(1)			18,750	(5)	04/05/2033	Common Stock	18,750	$0	70,502	D

Explanation of Responses:

1. This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on March 31, 2026.

2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $28.21 to $29.15, 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 $29.23 to $30.20, 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 price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $30.25 to $30.50, 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.

5. 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/ Ryan Cohlhepp	07/10/2026
	** 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)