Bicara Therapeutics (BCAX) COO exercises options and sells shares

Rhea-AI Filing Summary

Bicara Therapeutics Inc.'s President and COO, Ryan Cohlhepp, exercised stock options for 8,000 shares of common stock at an exercise price of $3.7898 per share and then sold 12,500 shares of common stock at a weighted average price of $19.6571 per share. The sales were executed on March 16, 2026 pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on February 12, 2025. Following these transactions, he directly holds 200,641 shares of Bicara 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)
03/16/2026

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	03/16/2026		M(1)		8,000	A	$3.7898	213,141	D
Common Stock	03/16/2026		S(1)		8,000	D	$19.6571(2)	205,141	D
Common Stock	03/16/2026		S(1)		4,500	D	$19.6571(2)	200,641	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	03/16/2026		M(1)			8,000	(3)	08/08/2033	Common Stock	8,000	$0	117,334	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 $19.34 to $19.96, 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	03/17/2026
	** 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 did Bicara Therapeutics (BCAX) insider Ryan Cohlhepp report on this Form 4?

Ryan Cohlhepp reported an option exercise and related share sales. He exercised options for 8,000 shares at $3.7898 and sold 12,500 common shares at a weighted average price of $19.6571 per share on March 16, 2026.

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

He sold 12,500 shares of Bicara common stock. The filing shows a weighted average sale price of $19.6571 per share, with individual trades executed between $19.34 and $19.96 per share, as detailed in the footnote disclosure.

What stock options did the Bicara Therapeutics (BCAX) COO exercise?

He exercised a stock option covering 8,000 shares of Bicara common stock. The option carried an exercise price of $3.7898 per share and was originally scheduled to vest in sixteen equal quarterly installments following August 8, 2023, subject to continued service.

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

Yes. The filing states the transactions were executed pursuant to a Rule 10b5-1 trading plan. That plan was adopted on February 12, 2025, indicating the sales were pre-arranged rather than timed in response to new, undisclosed company information.

How many Bicara Therapeutics (BCAX) shares does the COO hold after these transactions?

After completing the option exercise and subsequent sales, Ryan Cohlhepp directly owns 200,641 shares of Bicara common stock. This post-transaction balance reflects his remaining equity stake following the net sale of 12,500 shares reported in this Form 4.

What overall trading pattern does the Bicara Therapeutics (BCAX) Form 4 show?

The Form 4 shows an exercise-and-sell pattern. The COO exercised options to acquire 8,000 shares, then sold a total of 12,500 shares in open-market transactions, resulting in a net reduction of his holdings while retaining a substantial remaining position.