Bicara Therapeutics (BCAX) director granted 19,475 options held for RA Capital funds

Rhea-AI Filing Summary

Bicara Therapeutics Inc. reported that director Jake Simson was granted a stock option for 19,475 shares of common stock at an exercise price of $20.56 per share. The option vests on the earlier of June 9, 2027 or the next Annual Meeting of Stockholders, subject to his continued service.

According to the disclosed arrangement, Simson holds this option for the benefit of R.A. Capital Healthcare Fund, L.P. and R.A. Capital Nexus Fund III, L.P. and must turn over any net cash or stock received upon exercise to RA Capital Management, L.P., and therefore disclaims beneficial ownership of the option and underlying shares.

Insights

Equity compensation and governance analyst

Routine director stock option grant held for RA Capital funds.

The filing shows a grant of 19,475 stock options to director Jake Simson with a $20.56 exercise price, vesting by June 9, 2027 or the next annual meeting. This looks like standard board-related equity compensation rather than an open-market transaction.

A key detail is that Simson holds the option for the benefit of R.A. Capital Healthcare Fund and R.A. Capital Nexus Fund III under an arrangement with RA Capital Management, L.P.. Any net cash or stock from exercise offsets advisory fees, and Simson disclaims beneficial ownership, suggesting the economic exposure lies with those funds, not with him personally.

Because this is a non-cash, compensation-style award with no immediate share sale, the filing mainly updates the record of derivative holdings linked to Bicara Therapeutics rather than signaling a change in market sentiment toward the stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Simson Jake

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	19,475	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 19,475 shares (Direct, null)

Footnotes (1)

1. The shares underlying this stock option vest upon the earlier of (i) June 9, 2027 or (ii) the date of the next Annual Meeting of Stockholders of Bicara Therapeutics Inc., subject to the Reporting Person's continued service on such vesting date. Under the Reporting Person's arrangement with RA Capital Management, L.P. (the "Adviser"), the Reporting Person holds the option for the benefit of the R.A. Capital Healthcare Fund, L.P. (the "Fund") and R.A. Capital Nexus Fund III, L.P. (the "Nexus Fund III"). The Reporting Person is obligated to turn over to the Adviser any net cash or stock received upon exercise of the option, which will offset advisory fees owed by the Fund and the Nexus Fund III to the Adviser. The Reporting Person therefore disclaims beneficial ownership of the option and underlying common stock.

Key Figures

Option grant size: 19,475 options Exercise price: $20.56 per share Total options after grant: 19,475 options +2 more

5 metrics

Option grant size 19,475 options Stock Option (Right to Buy) granted June 9, 2026

Exercise price $20.56 per share Conversion or exercise price of granted option

Total options after grant 19,475 options Total derivative securities following transaction

Option expiration June 9, 2036 Expiration date of stock option

Vesting date trigger June 9, 2027 or next annual meeting Earlier event determines vesting, subject to continued service

Key Terms

Stock Option (Right to Buy), beneficial ownership, Annual Meeting of Stockholders, advisory fees, +1 more

5 terms

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy)"

beneficial ownership financial

"The Reporting Person therefore disclaims beneficial ownership of the option"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Annual Meeting of Stockholders financial

"vest upon the earlier of June 9, 2027 or the date of the next Annual Meeting of Stockholders"

advisory fees financial

"net cash or stock received upon exercise of the option, which will offset advisory fees owed"

Advisory fees are payments made to financial advisors or investment managers for guidance, portfolio management, or other services, typically charged as a fixed amount or a percentage of assets under management. They matter because they lower an investor’s net returns—like paying a mechanic to tune a car, you expect better performance, so investors weigh whether the cost is justified by higher returns, better risk control, or convenience.

derivative financial

"transaction_type: derivative"

A derivative is a financial contract whose value depends on the price or performance of another asset or measure — for example a stock, index, interest rate, commodity, or currency. Investors use derivatives like insurance or leveraged bets to hedge risk, speculate, or gain exposure without owning the underlying asset; they can protect portfolios but also amplify losses and introduce counterparty and market risk.

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Form 4 Insider Transactions: What Each Field Means →

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).

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^*

Simson Jake

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/09/2026

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

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)	$20.56	06/09/2026		A		19,475		(1)	06/09/2036	Common Stock	19,475	$0	19,475	D(2)

Explanation of Responses:

1. The shares underlying this stock option vest upon the earlier of (i) June 9, 2027 or (ii) the date of the next Annual Meeting of Stockholders of Bicara Therapeutics Inc., subject to the Reporting Person's continued service on such vesting date.

2. Under the Reporting Person's arrangement with RA Capital Management, L.P. (the "Adviser"), the Reporting Person holds the option for the benefit of the R.A. Capital Healthcare Fund, L.P. (the "Fund") and R.A. Capital Nexus Fund III, L.P. (the "Nexus Fund III"). The Reporting Person is obligated to turn over to the Adviser any net cash or stock received upon exercise of the option, which will offset advisory fees owed by the Fund and the Nexus Fund III to the Adviser. The Reporting Person therefore disclaims beneficial ownership of the option and underlying common stock.

Remarks:

	/s/ Ryan Cohlhepp, Attorney-in-Fact	06/10/2026
	** 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)

FAQ

What did the Bicara Therapeutics (BCAX) Form 4 report for Jake Simson?

The Form 4 reports a grant of 19,475 stock options to director Jake Simson at an exercise price of $20.56 per share. These options relate to Bicara Therapeutics common stock and are structured as equity-based compensation, not an open-market purchase or sale.

When do Jake Simson’s BCAX stock options vest according to the filing?

The options vest upon the earlier of June 9, 2027, or the date of the next Annual Meeting of Stockholders. Vesting is conditioned on Jake Simson’s continued service with Bicara Therapeutics through the applicable vesting date, aligning director incentives with longer-term company performance.

Who ultimately benefits from the BCAX stock options granted to Jake Simson?

Under an arrangement with RA Capital Management, Jake Simson holds the options for the benefit of R.A. Capital Healthcare Fund and R.A. Capital Nexus Fund III. Any net cash or stock from exercising the options offsets advisory fees, and Simson disclaims beneficial ownership.

Does the BCAX Form 4 indicate that Jake Simson bought or sold shares on the market?

No, the Form 4 reflects a grant of stock options as a derivative award, not a market trade. The transaction is classified as a grant or award acquisition and does not involve open-market buying or selling of Bicara Therapeutics common shares by Jake Simson.

How many Bicara Therapeutics options does Jake Simson hold after this transaction?

Following this transaction, the reporting shows 19,475 stock options linked to Bicara Therapeutics common stock. These options are subject to the vesting schedule and are held for the benefit of RA Capital-managed funds under the disclosed advisory arrangement.

What is the expiration date of Jake Simson’s BCAX stock option grant?

The stock option granted to Jake Simson expires on June 9, 2036, if not exercised earlier. This long-dated expiration provides ample time for potential exercise, subject to vesting and the economic arrangements benefiting the RA Capital funds rather than Simson personally.