Bicycle CSO sells shares to cover RSU taxes

Bicycle Therapeutics plc Chief Scientific Officer Michael Skynner reported two small open-market sales of Ordinary Shares tied to tax withholding on vested equity awards.

Rhea-AI Filing Summary

Bicycle Therapeutics plc Chief Scientific Officer Michael Skynner reported two small open-market sales of Ordinary Shares tied to tax withholding on vested equity awards. On July 2, 2026, he sold 1,859 shares at a weighted average price of $4.27 per share, followed by 532 shares on July 6, 2026 at a weighted average price of $4.31. A footnote explains these transactions were required "sell to cover" sales to satisfy statutory tax withholding obligations related to RSU vesting and were not discretionary. After these sales, Skynner directly held 157,171 Ordinary Shares.

Insider Trade Summary

Net Seller: 2,391 shares

Net Sell 2 txns

Insider Skynner Michael

Role CHIEF SCIENTIFIC OFFICER

Sold 2,391 shs ($10K)

Type	Security	Shares	Price	Value
Sale	Ordinary Shares	532	$4.31	$2K
Sale	Ordinary Shares	1,859	$4.27	$8K

Holdings After Transaction: Ordinary Shares — 157,171 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 $4.26 to $4.29 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 $4.30 to $4.31 inclusive.

Key Figures

Shares sold July 2, 2026: 1,859 shares at $4.27 Shares sold July 6, 2026: 532 shares at $4.31 Total shares sold: 2,391 shares +3 more

6 metrics

Shares sold July 2, 2026 1,859 shares at $4.27 Open-market sale to cover RSU tax withholding

Shares sold July 6, 2026 532 shares at $4.31 Open-market sale to cover RSU tax withholding

Total shares sold 2,391 shares Aggregate of two sell-to-cover transactions

Holdings after transactions 157,171 shares Ordinary Shares directly owned post July 6, 2026 sale

Weighted average price range July 2 $4.26–$4.29 Multiple trades reported as $4.27 weighted average

Weighted average price range July 6 $4.30–$4.31 Multiple trades reported as $4.31 weighted average

Key Terms

restricted stock units, sell to cover, statutory tax withholding obligations, weighted average price

4 terms

restricted stock units financial

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

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

sell to cover financial

"funded by a "sell to cover" transaction and does not represent a discretionary sale"

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

"sold 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.

FAQ

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

What did Bicycle Therapeutics (BCYC) disclose in Michael Skynner’s latest Form 4?

Bicycle Therapeutics reported that Chief Scientific Officer Michael Skynner sold shares in two small transactions. These were mandated "sell to cover" trades to satisfy statutory tax withholding on vested RSUs, rather than discretionary open-market sales, and he retained 157,171 Ordinary Shares afterward.

How many Bicycle Therapeutics (BCYC) shares did Michael Skynner sell and at what prices?

Michael Skynner sold a total of 2,391 Ordinary Shares of Bicycle Therapeutics. He sold 1,859 shares at a weighted average price of $4.27 on July 2, 2026, and 532 shares at a weighted average price of $4.31 on July 6, 2026.

Why were Michael Skynner’s Bicycle Therapeutics (BCYC) shares sold according to the Form 4 footnotes?

The Form 4 footnotes state that the shares were sold to cover statutory tax withholding obligations from RSU vesting. The award agreement required a "sell to cover" transaction, so these did not represent discretionary sales by Michael Skynner in the open market.

How many Bicycle Therapeutics (BCYC) shares does Michael Skynner hold after the reported transactions?

After the reported transactions, Michael Skynner directly holds 157,171 Ordinary Shares of Bicycle Therapeutics. This figure is disclosed in the Form 4 as the total shares beneficially owned following the final sale transaction dated July 6, 2026.

What does a "sell to cover" transaction mean in Bicycle Therapeutics (BCYC) insider filings?

A "sell to cover" transaction means shares are sold automatically to pay required taxes on vested equity awards. In this case, Skynner’s award agreement mandated selling enough shares to satisfy minimum statutory tax withholding, rather than him choosing to sell shares for portfolio reasons.

Were Michael Skynner’s Bicycle Therapeutics (BCYC) share sales discretionary open-market trades?

The Form 4 footnotes state they were not discretionary. The sales were mandated by the RSU award agreement to fund statutory tax withholding through a "sell to cover" mechanism, even though they are reported under the standard open-market sale transaction code.

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

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Accepted by SEC EDGAR 07/07/2026 - 05:00 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^*

Skynner Michael

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/02/2026

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	07/02/2026		S(1)		1,859	D	$4.27(2)	157,703	D
Ordinary Shares	07/06/2026		S(1)		532	D	$4.31(3)	157,171	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 $4.26 to $4.29 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 $4.30 to $4.31 inclusive.

	/s/ Travis Thompson, Attorney-in-Fact	07/07/2026
	** 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)