Enliven CMO exercises options, sells 5,000 shares

Enliven’s chief medical officer exercised 5,000 ELVN options and sold 5,000 shares under a pre-set Rule 10b5-1 trading plan.

Rhea-AI Filing Summary

Enliven Therapeutics, Inc. (ELVN) reported that Chief Medical Officer Helen Louise Collins exercised stock options for 5,000 shares of Common Stock on September 17, 2026 at an exercise price of $2.48 per share and then sold 5,000 shares the same day in open-market transactions. The sales occurred in three tranches at weighted average prices of about $50.03, $50.71 and $51.48 per share, within ranges from $49.305 to $51.675, and were effected under a Rule 10b5-1 trading plan adopted on October 19, 2025. After the option exercise, Collins held 106,268 options that are fully vested and exercisable.

Insider Trade Summary 10b5-1

Exercise and Sale: 5,000 shares ($239K approx. pre-tax spread)

Exercise and Sale 5 txns

Insider Collins Helen Louise

Role CHIEF MEDICAL OFFICER

Sold 5,000 shs ($252K)

Approx. gross sale proceeds $252K

Approx. exercise cost $12K

Approx. pre-tax spread $239K

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy) F1, F7	5,000	$0.00	$0.00
Exercise	Common Stock F1, F2	5,000	$2.48	$12K
Sale	Common Stock F1, F3, F2	2,916	$50.0312	$146K
Sale	Common Stock F1, F4, F2	1,844	$50.7089	$94K
Sale	Common Stock F1, F5, F6	240	$51.482	$12K

Holdings After Transaction: Stock Option (right to buy) — 106,268 contracts (Direct); Common Stock — 25,000 shares (Direct)

Footnotes (7)

1. F1. 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. F2. 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, subject to the applicable vesting schedule and conditions of each RSU.
3. F3. This transaction was executed in multiple trades at prices ranging from $49.305 to $50.30. 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. F4. This transaction was executed in multiple trades at prices ranging from $50.3099 to $51.26. 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. F5. This transaction was executed in multiple trades at prices ranging from $51.365 to $51.675. 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.
6. F6. These securities are RSUs. Each RSU represents a contingent right to receive one share of the Issuer's Common Stock, subject to the applicable vesting schedule and conditions of each RSU.
7. F7. All of the shares subject to this option are fully vested and exercisable as of the date hereof.

Key Figures

Options exercised: 5,000 shares Option exercise price: $2.48 per share Shares sold (first tranche): 2,916 shares at $50.0312 per share +4 more

7 metrics

Options exercised 5,000 shares Stock option exercise into Common Stock on September 17, 2026

Option exercise price $2.48 per share Exercise price for 5,000 stock options converted into Common Stock

Shares sold (first tranche) 2,916 shares at $50.0312 per share Open-market sale on September 17, 2026, weighted average price

Shares sold (second tranche) 1,844 shares at $50.7089 per share Open-market sale on September 17, 2026, weighted average price

Shares sold (third tranche) 240 shares at $51.482 per share Open-market sale on September 17, 2026, weighted average price

Options held after transaction 106,268 options Fully vested and exercisable stock options remaining after the exercise

Net shares bought/sold 5,000 net shares sold 5,000 shares acquired via option exercise and 5,000 shares sold

Key Terms

Rule 10b5-1 trading plan, restricted stock units (RSUs), weighted average sale price, contingent right to receive one share, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"were effected pursuant to a Rule 10b5-1 trading plan adopted"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

restricted stock units (RSUs) financial

"Certain of these securities are restricted stock units (RSUs)."

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

weighted average sale price financial

"The price reported above reflects the weighted average sale price."

contingent right to receive one share financial

"Each RSU represents a contingent right to receive one share"

fully vested and exercisable financial

"All of the shares subject to this option are fully vested"

FAQ

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

What insider transactions did ELVN’s chief medical officer report on September 17, 2026?

Helen Louise Collins reported exercising 5,000 stock options for Enliven Therapeutics, Inc. (ELVN) Common Stock at $2.48 per share and selling 5,000 shares the same day in three open-market transactions at weighted average prices around $50–$51.50 per share.

At what prices were the ELVN shares sold in this Form 4?

The reported sales covered 2,916 shares at $50.0312, 1,844 shares at $50.7089, and 240 shares at $51.482 per share. Footnotes state these were weighted average sale prices within trade ranges from $49.305 to $51.675 per share.

Were the ELVN transactions by Helen Collins made under a Rule 10b5-1 plan?

Yes. A footnote states the option exercise and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Helen Louise Collins on October 19, 2025, indicating the trades followed a pre-arranged plan.

How many ELVN options does Helen Collins hold after these transactions?

After the reported option exercise, Helen Louise Collins holds 106,268 stock options for Enliven Therapeutics, Inc. shares. A footnote adds that all shares subject to the reported option are fully vested and exercisable as of the transaction date.

What role does the insider in this ELVN Form 4 hold at the company?

The reporting person, Helen Louise Collins, is identified as the Chief Medical Officer of Enliven Therapeutics, Inc. in the Form 4 filing, and the reported holdings and transactions are shown as direct ownership.

Does the Form 4 mention restricted stock units (RSUs) for ELVN?

Yes. Footnotes state that certain securities are restricted stock units (RSUs), with each RSU representing a contingent right to receive one share of Enliven’s Common Stock, subject to the applicable vesting schedule and conditions.

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

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Available on EDGAR 09/21/2026 - 05:22 PM Accepted by SEC EDGAR 09/21/2026 - 05:22 PM 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).

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.

205 PARK ROAD

(Street)

BURLINGAME CALIFORNIA 94010

(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)
09/17/2026

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	09/17/2026		M(1)		5,000	A	$2.48	30,000(2)	D
Common Stock	09/17/2026		S(1)		2,916	D	$50.0312(3)	27,084(2)	D
Common Stock	09/17/2026		S(1)		1,844	D	$50.7089(4)	25,240(2)	D
Common Stock	09/17/2026		S(1)		240	D	$51.482(5)	25,000(6)	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	09/17/2026		M(1)			5,000	(7)	06/17/2031	Common Stock	5,000	$0	106,268	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, subject to the applicable vesting schedule and conditions of each RSU.

3. This transaction was executed in multiple trades at prices ranging from $49.305 to $50.30. 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. This transaction was executed in multiple trades at prices ranging from $50.3099 to $51.26. 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. This transaction was executed in multiple trades at prices ranging from $51.365 to $51.675. 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.

6. These securities are RSUs. Each RSU represents a contingent right to receive one share of the Issuer's Common Stock, subject to the applicable vesting schedule and conditions of each RSU.

7. 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	09/21/2026
	** 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)