Enliven (ELVN) director reports small planned stock sales

Rhea-AI Filing Summary

Enliven Therapeutics, Inc. director Richard A. Heyman reported planned sales of company common stock by related entities. On January 20, 2026, the Heyman Daigle Trust, for which he serves as trustee, sold 512 shares at $26.4592 and 718 shares at $26.956 per share under a pre-arranged Rule 10b5-1 trading plan adopted on November 15, 2024. After these transactions, the trust held 23,877 shares beneficially for him. Heyman also reported 123,673 shares held directly and 25,545 shares held indirectly through RAHD Capital LLC, where he is a managing member.

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

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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^*

Heyman Richard A.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/20/2026

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	01/20/2026		S(1)		512	D	$26.4592(2)	24,595	I	See footnote(3)
Common Stock	01/20/2026		S(1)		718	D	$26.956(4)	23,877	I	See footnote(3)
Common Stock								123,673	D
Common Stock								25,545	I	See footnote(5)

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 November 15, 2024 by the Reporting Person and by Richard A. Heyman and Anne E. Daigle Trust, UAD 01/01/1995, as amended November 1, 2016, for which the Reporting Person serves as trustee (the "Heyman Daigle Trust").

2. This transaction was executed in multiple trades at prices ranging from $25.7133 to $26.7111. 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 of record by the Heyman Daigle Trust.

4. This transaction was executed in multiple trades at prices ranging from $26.725 to $27.3454. 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.

5. The shares are held of record by RAHD Capital LLC, for which the Reporting Person serves as a managing member.

	/s/ Ben Hohl, by power of attorney	01/22/2026
	** 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.

FAQ

What insider activity did Enliven Therapeutics (ELVN) report in this Form 4?

The filing shows that entities associated with director Richard A. Heyman sold small amounts of Enliven Therapeutics common stock and updated his reported share holdings.

How many Enliven Therapeutics shares were sold and at what prices?

The Heyman Daigle Trust sold 512 shares at $26.4592 per share and 718 shares at $26.956 per share, both reported as weighted average sale prices.

Were the ELVN stock sales by Richard Heyman discretionary or under a plan?

The sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 15, 2024, which allows trades to occur pursuant to preset instructions.

Who actually holds the Enliven shares involved in the reported transactions?

The sold shares are held of record by the Heyman Daigle Trust, where Heyman is trustee. Additional indirect holdings are reported through RAHD Capital LLC, where he is a managing member.

How many Enliven Therapeutics shares does Richard Heyman report owning after these trades?

After the transactions, he reports 23,877 shares beneficially owned via the Heyman Daigle Trust, 123,673 shares held directly, and 25,545 shares held indirectly through RAHD Capital LLC.

What does the weighted average price disclosure mean in this ELVN Form 4?

Each reported price is a weighted average of multiple trades within a price range, and Heyman undertakes to provide details of the individual trade prices and share counts upon request.