Bicara CMO exercises options, sells 5,500 shares

Bicara Therapeutics Chief Medical Officer David Raben reported an option exercise and related share sale.

Rhea-AI Filing Summary

Bicara Therapeutics Chief Medical Officer David Raben reported an option exercise and related share sale. He exercised stock options to acquire 5,500 shares of common stock at an exercise price of $3.7898 per share, then sold 5,500 shares at a weighted average price of $18.9508 per share.

The filing states that the transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 12, 2025. Following these transactions, Raben directly holds 55,286 shares of Bicara Therapeutics common stock.

Insider Trade Summary 10b5-1

Exercise and Sale: 5,500 shares ($83K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Raben David

Role Chief Medical Officer

Sold 5,500 shs ($104K)

Approx. gross sale proceeds $104K

Approx. exercise cost $21K

Approx. pre-tax spread $83K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	5,500	$0.00	$0.00
Exercise	Common Stock	5,500	$3.7898	$21K
Sale	Common Stock	5,500	$18.9508	$104K

Holdings After Transaction: Stock Option (Right to Buy) — 47,413 contracts (Direct); Common Stock — 55,286 shares (Direct)

Footnotes (3)

1. F1. This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on February 12, 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 $18.55 to $19.36, 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.
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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Bicara Therapeutics (BCAX) report for David Raben?

Bicara Therapeutics reported that Chief Medical Officer David Raben exercised options for 5,500 shares and sold 5,500 common shares. The exercise price was $3.7898 per share and the weighted average sale price was $18.9508 per share in open-market transactions.

Was the Bicara Therapeutics (BCAX) insider sale by David Raben pre-planned?

Yes. The filing states the transaction was executed under a Rule 10b5-1 trading plan adopted on February 12, 2025. Such plans pre-schedule trades, making the timing more routine rather than a discretionary decision based on short-term market conditions.

How many Bicara Therapeutics (BCAX) shares does David Raben hold after the Form 4 transactions?

After the reported transactions, David Raben directly holds 55,286 shares of Bicara Therapeutics common stock. This reflects his position following the 5,500-share option exercise and the subsequent 5,500-share open-market sale disclosed in the Form 4.

What prices were involved in David Raben’s Bicara Therapeutics (BCAX) transactions?

Raben exercised stock options at an exercise price of $3.7898 per share and sold 5,500 shares at a weighted average price of $18.9508 per share. The sale occurred through multiple trades between $18.55 and $19.36 per share.

What type of security did David Raben exercise in the Bicara Therapeutics (BCAX) filing?

He exercised a stock option covering 5,500 shares of Bicara Therapeutics common stock. The option had an exercise price of $3.7898 per share and relates to an award that vests in sixteen equal quarterly installments starting August 8, 2023.

Does the Bicara Therapeutics (BCAX) Form 4 indicate remaining options for David Raben?

The Form 4 shows an option exercise for 5,500 shares and indicates no remaining derivative positions in the derivative summary. This suggests the reported option position was fully exercised in connection with this transaction sequence.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 03/26/2026 - 07:21 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^*

Raben David

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/25/2026

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	03/25/2026		M(1)		5,500	A	$3.7898	60,786	D
Common Stock	03/25/2026		S(1)		5,500	D	$18.9508(2)	55,286	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	03/25/2026		M(1)			5,500	(3)	08/08/2023	Common Stock	5,500	$0	47,413	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 $18.55 to $19.36, 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.

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	03/26/2026
	** 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)