Enliven Therapeutics (ELVN) CMO sells 5,000 shares after option exercise

Rhea-AI Filing Summary

Enliven Therapeutics Chief Medical Officer Helen Louise Collins exercised stock options for 5,000 shares of Common Stock at an exercise price of $2.4800 per share, then sold 5,000 shares at a weighted average price of $27.7600 per share. These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on October 19, 2025. Following the sale, Collins directly holds 25,000 shares of Common Stock, and the filing shows no remaining derivative securities from this option after the exercise.

Insights

Equity compensation and insider trading analyst

Routine option exercise-and-sell by Enliven’s CMO under a 10b5-1 plan.

Helen Louise Collins, Chief Medical Officer of Enliven Therapeutics, exercised options for 5,000 shares of Common Stock at $2.4800 per share and sold 5,000 shares at a weighted average price of $27.7600. This is a classic exercise-and-sell pattern converting an option position into cash.

The filing indicates these transactions were effected under a Rule 10b5-1 trading plan adopted on October 19, 2025. Such plans are pre-arranged and designed to standardize trading, which typically reduces the informational value of transaction timing as a signal of insider sentiment.

After the sale, Collins directly owns 25,000 Common Stock shares. The option exercised here was fully vested and exercisable, and the filing shows no remaining derivative securities from this option, suggesting completion of that particular grant’s lifecycle rather than a strategic shift in overall equity exposure.

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).

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^*

Collins Helen Louise

(Last) (First) (Middle)

C/O ENLIVEN THERAPEUTICS, INC.

6200 LOOKOUT ROAD

(Street)

BOULDER COLORADO 80301

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Enliven Therapeutics, Inc. [ ELVN ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026

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
Common Stock	03/17/2026		M(1)		5,000	A	$2.48	30,000(2)	D
Common Stock	03/17/2026		S(1)		5,000	D	$27.76(3)	25,000(4)	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)	$2.48	03/17/2026		M(1)			5,000	(5)	06/17/2031	Common Stock	5,000	$0	176,268	D

Explanation of Responses:

1. The option exercise and sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on October 19, 2025.

2. Certain of these securities are restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of the Issuer's Common Stock.

3. This transaction was executed in multiple trades at prices ranging from $27.40 to $28.2278. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

4. These securities are RSUs. Each RSU represents a contingent right to receive one share of the Issuer's Common Stock.

5. All of the shares subject to this option are fully vested and exercisable as of the date hereof.

	/s/ Ben Hohl, by power of attorney	03/19/2026
	** 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 insider transactions did Enliven Therapeutics (ELVN) report for its CMO?

Enliven Therapeutics reported that Chief Medical Officer Helen Louise Collins exercised options for 5,000 shares and sold 5,000 Common Stock shares. The option exercise price was $2.4800 per share, and the sale’s weighted average price was $27.7600 per share.

Was the Enliven Therapeutics (ELVN) insider sale by the CMO pre-planned?

Yes. The option exercise and related share sales were executed under a Rule 10b5-1 trading plan adopted by Helen Louise Collins on October 19, 2025. Such pre-planned programs automate trading and typically reduce the significance of transaction timing as a market signal.

How many Enliven Therapeutics (ELVN) shares does the CMO hold after the Form 4 transactions?

After exercising options and selling 5,000 shares, Chief Medical Officer Helen Louise Collins directly holds 25,000 shares of Enliven Therapeutics Common Stock. This figure reflects her remaining direct equity position following the reported exercise-and-sell activity on March 17, 2026.

At what prices did the Enliven Therapeutics (ELVN) CMO transact shares?

Helen Louise Collins exercised stock options at an exercise price of $2.4800 per share and sold 5,000 shares at a weighted average price of $27.7600. The sale occurred in multiple trades between $27.40 and $28.2278 per share.

What type of derivative security did the Enliven Therapeutics (ELVN) CMO exercise?

She exercised a stock option covering 5,000 shares of Common Stock with an exercise price of $2.4800 per share. All shares subject to this option were fully vested and exercisable at the time, and the filing shows no remaining derivative securities from this option afterward.

Does the Enliven Therapeutics (ELVN) Form 4 indicate any tax-withholding or gift transactions?

No. The Form 4 summary reflects one derivative exercise and one open-market sale, with no entries for tax-withholding dispositions or gifts. The transaction pattern is a straightforward option exercise followed by a sale of the acquired 5,000 shares.