[Form 4] Enliven Therapeutics, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Anish Patel, Chief Operating Officer of Enliven Therapeutics (ELVN), sold 6,667 shares of common stock on 10/07/2025. The sales were executed under a Rule 10b5-1 trading plan adopted on 09/30/2024, and the weighted average sale price was $20.0979. After the reported disposition, the Reporting Person beneficially owns 276,641 shares, held indirectly by The Patel / Dong Family Trust. The Form discloses the trades were executed in multiple transactions at prices ranging from $20.0001 to $20.22, and the filer offers to provide per-trade details on request.

Positive

• Sale executed under a Rule 10b5-1 plan, indicating the trades were preplanned and provide an affirmative defense
• Reporting person discloses weighted average price and price range and offers per-trade detail on request, supporting transparency

Negative

• Insider disposed of 6,667 shares, reducing beneficial holdings and modestly lowering insider ownership
• Sale price range $20.0001–$20.22 may be viewed by some investors as an insider liquidity action rather than signaling new company developments

Insights

Corporate Governance Analyst

Small, preplanned insider sale under a 10b5-1 plan; reduces indirect stake modestly.

The sale of 6,667 shares at a weighted $20.0979 was executed under a Rule 10b5-1 plan adopted on 09/30/2024, which indicates the transactions were scheduled and intended to provide an affirmative defense to insider trading claims. The remaining indirect position of 276,641 shares is held by The Patel / Dong Family Trust, for which the Reporting Person is trustee.

The main dependency is the documented 10b5-1 plan terms; if executed per plan, the sale is routine rather than informational about company prospects. Investors may monitor subsequent Form 4s for additional activity within the next 30–180 days to see whether this was a discrete liquidity event or part of ongoing planned sales.

10/09/2025 - 05:21 PM

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^*

Patel Anish

(Last) (First) (Middle)

C/O ENLIVEN THERAPEUTICS, INC.

6200 LOOKOUT ROAD

(Street)

BOULDER CO 80301

(City) (State) (Zip)

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 OPERATING OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025

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	10/07/2025		S(1)		6,667	D	$20.0979(2)	276,641	I	See footnote(3)

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. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on September 30, 2024 by the Reporting Person and by The Patel / Dong Family Trust Dated August 24, 2017, for which the Reporting Person serves as trustee (the "Patel / Dong Family Trust").

2. This transaction was executed in multiple trades at prices ranging from $20.0001 to $20.22. 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.

3. The shares are held by The Patel / Dong Family Trust.

	/s/ Ben Hohl, by power of attorney	10/09/2025
	** 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 Anish Patel (ELVN) sell on 10/07/2025?

The Reporting Person sold 6,667 shares of Enliven Therapeutics common stock on 10/07/2025 at a weighted average price of $20.0979.

Were these sales part of a preplanned trading program for ELVN insiders?

Yes. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted on 09/30/2024 by the Reporting Person and The Patel / Dong Family Trust.

How many ELVN shares does the Reporting Person own after the transaction?

After the reported disposition, the Reporting Person beneficially owns 276,641 shares, held indirectly by The Patel / Dong Family Trust.

What price range were the ELVN shares sold at?

The transactions were executed at prices ranging from $20.0001 to $20.22, with a weighted average of $20.0979.

Who filed the Form 4 and when was it signed?

The Form 4 was filed on behalf of the Reporting Person and signed by power of attorney by Ben Hohl on 10/09/2025.