Enliven Therapeutics (ELVN) director granted two new stock option awards

Rhea-AI Filing Summary

Gupta Rishi reported acquisition or exercise transactions in this Form 4 filing.

Enliven Therapeutics director Rishi Gupta reported stock option grants. He was awarded options covering 33,989 shares and 1,580 shares. For the larger grant, 1/36 of the shares vest monthly starting on February 2, 2026, while the smaller grant fully vests around the company’s 2027 annual stockholder meeting.

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

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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).

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^*

Gupta Rishi

(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)
02/12/2026

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

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)	$27.16	02/12/2026		A		33,989		(1)	02/12/2036	Common Stock	33,989	$0	33,989	D
Stock Option (right to buy)	$27.16	02/12/2026		A		1,580		(2)	02/12/2036	Common Stock	1,580	$0	1,580	D

Explanation of Responses:

1. 1/36th of the shares subject to the option vest on February 2, 2026 and each month thereafter, subject to the Reporting Person continuing as a non-employee director through the applicable vesting date.

2. 100% of the shares subject to the option will vest on the earlier of (i) the first anniversary of the 2026 annual meeting of the Issuer's stockholders or (ii) the date of the 2027 annual meeting of the Issuer's stockholders, subject to the Reporting Person continuing as a non-employee director through the applicable vesting date.

	/s/ Ben Hohl, by power of attorney	02/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Enliven Therapeutics (ELVN) report for Rishi Gupta?

Enliven Therapeutics reported that director Rishi Gupta received two stock option grants. One covers 33,989 shares and another covers 1,580 shares, both reported as awards with no sale of existing shares, aligning his incentives with future company performance and governance interests.

How many Enliven Therapeutics (ELVN) stock options were granted to Rishi Gupta?

Rishi Gupta was granted options on 33,989 shares and a separate grant of 1,580 shares. These awards are reported as acquisitions of derivative securities, giving him the right to buy company stock subject to the vesting schedules described in the filing’s footnotes.

What is the vesting schedule for Rishi Gupta’s 33,989-share ELVN stock option grant?

For the 33,989-share grant, 1/36 of the options vest on February 2, 2026 and monthly thereafter. Vesting continues each month as long as he remains a non-employee director, gradually increasing his exercisable ownership stake over three years of board service.

When do Rishi Gupta’s additional 1,580 ELVN stock options vest?

The 1,580-share option grant vests 100% on the earlier of the first anniversary of the 2026 annual stockholder meeting or the 2027 annual stockholder meeting. Vesting requires Mr. Gupta to continue serving as a non-employee director through the applicable vesting date.

Did Rishi Gupta buy or sell any existing Enliven Therapeutics (ELVN) shares in this filing?

The Form 4 shows only grants of stock options to Rishi Gupta, not open-market purchases or sales of existing shares. Both transactions are coded as awards, indicating new option grants rather than trading in currently outstanding common stock.

What does the Form 4 for ELVN indicate about Rishi Gupta’s post-grant holdings?

After the reported option grants, the Form 4 shows 33,989 options in one award and 1,580 options in another. These figures reflect derivative securities he may exercise in the future, subject to vesting, rather than immediately exercisable or currently owned common shares.