Enliven Therapeutics (ELVN) Insider Discloses 12,500-Share Sale

Rhea-AI Filing Summary

Enliven Therapeutics (ELVN) Form 144 notice shows a proposed sale of 12,500 common shares through Jefferies with an aggregate market value of $249,125, with an approximate sale date of 09/19/2025. The filer states these shares were acquired as founder shares on 09/01/2019 from Enliven Therapeutics. The filing reports 59,000,000 shares outstanding for the issuer.

The filing also discloses recent insider transactions: 24,500 shares sold by Joseph Lyssikatos during July–August 2025 for total gross proceeds of $526,862.01 across three transactions. The notice includes the standard attestation that the seller is not aware of undisclosed material adverse information.

Positive

• Compliant disclosure of proposed sale via Form 144 with broker, share counts, and market value
• Origin of shares documented (founder shares acquired 09/01/2019) which clarifies holding history
• Recent sales fully reported with dates and gross proceeds for transparency

Negative

• Insider sales activity totaling 24,500 shares in July–August 2025 plus the proposed 12,500 sale may raise questions about insider liquidity
• No statement of a 10b5-1 plan date is provided, so it is unclear whether sales are prearranged

Insights

Securities Analyst

TL;DR: Insider selling activity disclosed; planned sale and recent disposals are visible but represent a small fraction of total shares outstanding.

The Form 144 provides clear, itemized disclosure of an intended sale of 12,500 common shares valued at $249,125 to be executed through Jefferies on 09/19/2025, plus three prior sales totaling 24,500 shares in July–August 2025 generating $526,862.01. From a market-impact perspective, these quantities are immaterial relative to the reported 59 million shares outstanding, reducing likelihood of meaningful supply-driven price pressure. The filing satisfies Rule 144 notification requirements and documents provenance of the shares as founder shares acquired 09/01/2019.

Corporate Governance Expert

TL;DR: Disclosure is procedurally compliant; consecutive insider sales warrant investor attention but include required attestations.

The notice includes the seller's representation regarding lack of undisclosed material adverse information and documents the acquisition source and dates for the securities offered. Governance-wise, the combination of recent sales and the planned sale is relevant to stakeholders monitoring insider liquidity and alignment, though the filing contains no statements about any trading plan or 10b5-1 reliance. The absence of additional remarks or plan adoption date means readers should not assume a prearranged trading plan is in place based on this form alone.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Jefferies LLC 520 Madison Ave 4th Fl New York NY 10022	12500	249125.00	59000000	09/19/2025	Nasdaq

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/01/2019	Founder shares	Enliven Therapeutics			12500	09/01/2019	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Joseph Lyssikatos 6200 Lookout Rd 1st Fl Boulder CO 80301	Enliven Therapeutics Inc	07/21/2025	12000	278646.38
Joseph Lyssikatos 6200 Lookout Rd 1st Fl Boulder CO 80301	Enliven Therapeutics Inc	08/19/2025	5000	98117.55
Joseph Lyssikatos 6200 Lookout Rd 1st Fl Boulder CO 80301	Enliven Therapeutics Inc	08/21/2025	7500	150099.08

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What shares is the Form 144 for Enliven Therapeutics (ELVN) proposing to sell?

The notice proposes sale of 12,500 common shares through Jefferies with an aggregate market value of $249,125 and an approximate sale date of 09/19/2025.

Who acquired the shares being sold and when?

The shares were acquired as founder shares on 09/01/2019, reportedly from Enliven Therapeutics.

Has the filer sold any Enliven shares recently?

Yes. The filing discloses three sales by Joseph Lyssikatos in 2025: 07/21/2025 (12,000 shares), 08/19/2025 (5,000 shares), and 08/21/2025 (7,500 shares) for combined gross proceeds of $526,862.01.

How many Enliven Therapeutics shares are outstanding per the filing?

The filing reports 59,000,000 shares outstanding for the issuer.

Does the Form 144 state whether a Rule 10b5-1 trading plan was used?

No. The filing does not provide a date of plan adoption or indicate reliance on a Rule 10b5-1 trading plan.