[Form 4] Bicara Therapeutics Inc. Insider Trading Activity

Rhea-AI Filing Summary

Bicara Therapeutics Chief Financial Officer Hyep Ivan reported a series of transactions under a Rule 10b5-1 trading plan dated 02/13/2025. Between 10/06/2025 and 10/08/2025 the reporting person acquired option grants exercisable at $3.7898 and sold common stock in multiple trades. After the reported transactions the reporting person beneficially owned 145,355 shares of common stock.

The filings show three option grant vestings/exercises (total underlying shares: 30,385 across the three dates) with an exercise price of $3.7898 and expiration on 08/08/2033. Sales were executed at weighted average prices reported between approximately $18.15 and $18.36, and the filer offered to provide per-trade details on request.

Insights

Corporate Governance & Compensation Analyst

Insider exercised low-cost options and sold shares under a pre-set plan.

The reporting person exercised stock options with an exercise price of $3.7898 and simultaneously sold shares at weighted average prices near $18.2, realizing a spread between exercise price and sale proceeds. The option vesting schedule is quarterly in sixteen equal installments beginning after 08/08/2023, which explains the staggered exercise and sale pattern.

This pattern is consistent with routine compensation monetization under a Rule 10b5-1 plan; monitor future Form 4 filings for additional option exercises, quarterly vesting amounts, and any changes to the trading plan timing.

Securities Compliance Specialist

Transactions were executed pursuant to a documented Rule 10b5-1 plan, reducing insider-timing risk.

The filing explicitly states the trades were made under a plan adopted on 02/13/2025, and the reporting person offered to disclose per-trade prices if requested. That disclosure supports procedural compliance and provides transparency about weighted-average sale prices between $18.15 and $18.36.

Items to watch include any amendments to the 10b5-1 plan or further sales/exercises reported on subsequent Form 4 filings, which would indicate ongoing monetization activity.

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)
10/06/2025

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	10/06/2025		M(1)		6,514	A	$3.7898	151,869	D
Common Stock	10/06/2025		S(1)		6,514	D	$18.1695(2)	145,355	D
Common Stock	10/07/2025		M(1)		18,244	A	$3.7898	163,599	D
Common Stock	10/07/2025		S(1)		18,244	D	$18.2189(3)	145,355	D
Common Stock	10/08/2025		M(1)		5,627	A	$3.7898	150,982	D
Common Stock	10/08/2025		S(1)		5,627	D	$18.208(3)	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	10/06/2025		M(1)			6,514	(4)	08/08/2033	Common Stock	6,514	$0	146,870	D
Stock Option (Right to Buy)	$3.7898	10/07/2025		M(1)			18,244	(4)	08/08/2033	Common Stock	18,244	$0	128,626	D
Stock Option (Right to Buy)	$3.7898	10/08/2025		M(1)			5,627	(4)	08/08/2033	Common Stock	5,627	$0	122,999	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 $18.24, 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 $18.15 to $18.36, 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	10/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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