Bicycle Therapeutics CEO sells 7,683 shares

Bicycle Therapeutics CEO Kevin Lee disposed of 7,683 Ordinary Shares in mandated transactions tied to RSU vesting.

Rhea-AI Filing Summary

Bicycle Therapeutics CEO Kevin Lee disposed of 7,683 Ordinary Shares in mandated transactions tied to RSU vesting. The sales, executed as "sell to cover" for statutory tax withholding, occurred at weighted average prices around $4.91 and $5.05 per share. After these transactions, he continues to hold 611,313 Ordinary Shares directly.

Insider Trade Summary

Net Seller: 7,683 shares

Net Sell 2 txns

Insider Lee Kevin

Role CHIEF EXECUTIVE OFFICER

Sold 7,683 shs ($38K)

Type	Security	Shares	Price	Value
Sale	Ordinary Shares	1,716	$5.05	$9K
Sale	Ordinary Shares	5,967	$4.91	$29K

Holdings After Transaction: Ordinary Shares — 611,313 shares (Direct)

Footnotes (3)

1. F1. Represents the number of shares required to be sold to cover the statutory tax withholding obligations in connection with the vesting and settlement of the RSUs. This sale is mandated by the Reporting Person's award agreement that requires the satisfaction of minimum statutory tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary sale by the Reporting Person.
2. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.88 to $4.98 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 within the ranges set forth in footnotes (2) and (3).
3. F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.03 to $5.05 inclusive.

Key Figures

Shares disposed: 7,683 shares Weighted average price (April 2, 2026): $4.91 per share Weighted average price (April 6, 2026): $5.05 per share +3 more

6 metrics

Shares disposed 7,683 shares Total Ordinary Shares sold to cover RSU tax withholding

Weighted average price (April 2, 2026) $4.91 per share Ordinary Shares sold between $4.88 and $4.98

Weighted average price (April 6, 2026) $5.05 per share Ordinary Shares sold between $5.03 and $5.05

Holdings after transactions 611,313 shares Ordinary Shares directly owned by Kevin Lee post-sale

Shares sold on April 2, 2026 5,967 shares Non-derivative sale at weighted average $4.91

Shares sold on April 6, 2026 1,716 shares Non-derivative sale at weighted average $5.05

Key Terms

RSUs, sell to cover, statutory tax withholding obligations, weighted average price, +1 more

5 terms

RSUs financial

"in connection with the vesting and settlement of the RSUs"

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

sell to cover financial

"to be funded by a "sell to cover" transaction"

Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.

statutory tax withholding obligations financial

"to cover the statutory tax withholding obligations in connection with the vesting"

weighted average price financial

"The price reported in Column 4 is a weighted average price."

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.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

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

What did Bicycle Therapeutics (BCYC) CEO Kevin Lee report in this Form 4?

Kevin Lee reported disposing of 7,683 Ordinary Shares of Bicycle Therapeutics. The transactions were structured as sell-to-cover sales to satisfy statutory tax withholding owed on vesting RSUs, rather than representing discretionary open-market sales for portfolio reasons.

Why were Kevin Lee’s Bicycle Therapeutics (BCYC) shares sold in these transactions?

The 7,683 shares were sold to cover statutory tax withholding obligations triggered by the vesting and settlement of RSUs. The award agreement mandates a sell to cover mechanism, so these sales were not discretionary investment decisions by Kevin Lee.

At what prices were the Bicycle Therapeutics (BCYC) shares sold by Kevin Lee?

The reported prices are weighted averages. One transaction used a weighted average price of about $4.91, from trades between $4.88 and $4.98. The other used about $5.05, from trades between $5.03 and $5.05, reflecting multiple small executions.

How many Bicycle Therapeutics (BCYC) shares does Kevin Lee hold after these transactions?

After completing the tax-related sell-to-cover transactions, Kevin Lee holds 611,313 Ordinary Shares of Bicycle Therapeutics directly. This figure shows his remaining equity position following the 7,683 shares disposed to satisfy RSU-related tax obligations.

Were Kevin Lee’s Bicycle Therapeutics (BCYC) share sales part of a trading decision?

No. The footnotes state the sales were required by the award agreement as a sell-to-cover mechanism for statutory tax withholding on RSU vesting. They are characterized as mandated, not discretionary trading activity by Kevin Lee.

How many Bicycle Therapeutics (BCYC) share sale transactions did Kevin Lee report?

The Form 4 reflects two non-derivative transactions, both coded as sales of Ordinary Shares. Combined, they total 7,683 shares sold across different days and price ranges, all tied to covering tax obligations from RSU vesting and settlement.

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

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Accepted by SEC EDGAR 04/06/2026 - 06:30 PM EDT 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).

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^*

Lee Kevin

(Last) (First) (Middle)

C/O BICYCLE THERAPEUTICS PLC

BLOCKS A & B, PORTWAY BUILDING

(Street)

CAMBRIDGE CB21 6GS

(City) (State) (Zip)

UNITED KINGDOM

(Country)

2. Issuer Name and Ticker or Trading Symbol
BICYCLE THERAPEUTICS PLC [ BCYC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF EXECUTIVE OFFICER

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/02/2026

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
Ordinary Shares	04/02/2026		S(1)		5,967	D	$4.91(2)	613,029	D
Ordinary Shares	04/06/2026		S(1)		1,716	D	$5.05(3)	611,313	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

Explanation of Responses:

1. Represents the number of shares required to be sold to cover the statutory tax withholding obligations in connection with the vesting and settlement of the RSUs. This sale is mandated by the Reporting Person's award agreement that requires the satisfaction of minimum statutory tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary sale by the Reporting Person.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.88 to $4.98 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 within the ranges set forth in footnotes (2) and (3).

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.03 to $5.05 inclusive.

	/s/ Travis Thompson, Attorney-in-Fact	04/06/2026
	** 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)