Erasca (ERAS) Chief Legal Officer exercises options, sells 80K shares under 10b5-1 plan

Rhea-AI Filing Summary

Erasca, Inc. Chief Legal Officer Ebun Garner exercised stock options and sold shares in a planned transaction. On April 1, 2026, Garner exercised options to acquire 80,000 shares of common stock at $1.70 per share, converting a derivative position into common stock.

That same day, Garner sold 80,000 shares of common stock at a weighted-average price of $16.40 per share in open-market transactions, executed under a pre-arranged Rule 10b5-1 trading plan adopted on June 30, 2024. Following these transactions, Garner directly held 25,076 shares of Erasca common stock.

Insights

Equity compensation and insider-trading analyst

Routine option exercise-and-sell under a 10b5-1 plan, with a remaining equity stake.

The Chief Legal Officer of Erasca, Inc., Ebun Garner, exercised stock options for 80,000 shares at an exercise price of $1.70 per share and immediately sold the same 80,000 shares at a weighted-average price of $16.40. This is a classic exercise-and-sell pattern, turning option compensation into cash.

The filing notes the trades occurred under a pre-established Rule 10b5-1 trading plan adopted on June 30, 2024, which suggests the timing was pre-planned rather than opportunistic. After the transactions, Garner held 25,076 shares directly, so they retain an equity position even after liquidating the newly acquired shares. With no remaining derivatives shown, this appears to be a full exercise of that particular option grant.

Insider Trade Summary 10b5-1

Net Seller: 80,000 shares ($1,312,000)

Net Sell 3 txns

Insider Garner Ebun

Role Chief Legal Officer

Sold 80,000 shs ($1.31M)

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	80,000	$0.00	--
Exercise	Common Stock	80,000	$1.70	$136K
Sale	Common Stock	80,000	$16.40	$1.31M

Holdings After Transaction: Stock Option (right to buy) — 280,000 shares (Direct); Common Stock — 105,076 shares (Direct)

Footnotes (1)

1. The exercise and sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person on June 30, 2024. This represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $16.11 to $16.58. The Reporting Person undertakes to provide the Issuer, any securityholder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. 1/48th of the shares subject to the option vest monthly, with vesting starting on February 1, 2024, subject to the Reporting Person's continuous service to the Issuer on each such vesting date.

Key Figures

Options exercised: 80,000 shares Option exercise price: $1.70 per share Shares sold: 80,000 shares +5 more

8 metrics

Options exercised 80,000 shares Stock Option (right to buy) exercised on April 1, 2026

Option exercise price $1.70 per share Exercise price for 80,000-share stock option

Shares sold 80,000 shares Common stock sold in open market on April 1, 2026

Weighted-average sale price $16.40 per share Weighted-average for multiple sale transactions

Post-transaction holdings 25,076 shares Common stock directly owned after April 1, 2026 transactions

Option expiration date February 4, 2034 Expiration for the exercised stock option grant

Vesting schedule 1/48th monthly Monthly vesting starting February 1, 2024, subject to service

Net buy/sell shares 80,000 shares net-sell Transaction summary net buy/sell direction

Key Terms

Rule 10b5-1 trading plan, Stock Option (right to buy, weighted-average price, open-market sale, +2 more

6 terms

Rule 10b5-1 trading plan financial

"The exercise and sales ... were effected pursuant to a Rule 10b5-1 trading plan"

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.

Stock Option (right to buy financial

"security_title": "Stock Option (right to buy)""

weighted-average price financial

"This represents a weighted-average price. These shares were sold in multiple transactions"

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

derivative exercise/conversion financial

"transaction_action": "derivative exercise/conversion""

vest monthly financial

"1/48th of the shares subject to the option vest monthly"

Form 4 Insider Transactions: What Each Field Means →

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^*

Garner Ebun

(Last) (First) (Middle)

C/O ERASCA, INC.

3115 MERRYFIELD ROW, SUITE 300

(Street)

SAN DIEGO CALIFORNIA 92121

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Erasca, Inc. [ ERAS ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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	04/01/2026		M(1)		80,000	A	$1.7	105,076	D
Common Stock	04/01/2026		S(1)		80,000	D	$16.4(2)	25,076	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)	$1.7	04/01/2026		M(1)			80,000	(3)	02/04/2034	Common Stock	80,000	$0	280,000	D

Explanation of Responses:

1. The exercise and sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person on June 30, 2024.

2. This represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $16.11 to $16.58. The Reporting Person undertakes to provide the Issuer, any securityholder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. 1/48th of the shares subject to the option vest monthly, with vesting starting on February 1, 2024, subject to the Reporting Person's continuous service to the Issuer on each such vesting date.

	/s/ Ebun Garner	04/03/2026
	** 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 transaction did Erasca (ERAS) report for Ebun Garner?

Erasca reported that Chief Legal Officer Ebun Garner exercised options for 80,000 shares at $1.70 and sold 80,000 common shares at a weighted-average price of $16.40 on April 1, 2026, converting option compensation into cash in one combined sequence.

Was the Erasca (ERAS) insider sale by Ebun Garner pre-planned under a Rule 10b5-1 plan?

Yes. The filing states the exercise and sale were executed under a Rule 10b5-1 trading plan that Garner adopted on June 30, 2024. Such plans pre-schedule trades, reducing the significance of timing as an indicator of the insider’s short-term view.

How many Erasca (ERAS) shares did Ebun Garner sell and at what price?

Garner sold 80,000 shares of Erasca common stock at a weighted-average price of $16.40 per share. The shares were sold in multiple transactions within a price range from $16.11 to $16.58, according to the detailed footnote disclosure in the filing.

What is Ebun Garner’s remaining Erasca (ERAS) shareholding after these transactions?

After the April 1, 2026 transactions, the filing shows Garner directly owned 25,076 shares of Erasca common stock. This figure reflects the position after exercising 80,000 options and selling 80,000 shares, indicating an ongoing but smaller equity stake in the company.

What type of derivative security did Ebun Garner exercise in Erasca (ERAS)?

Garner exercised a stock option described as a “Stock Option (right to buy)” covering 80,000 shares of Erasca common stock. The option carried an exercise price of $1.70 per share and an expiration date of February 4, 2034, with monthly vesting beginning February 1, 2024.

How do the vesting terms affect Ebun Garner’s Erasca (ERAS) stock option grant?

The filing notes that 1/48th of the shares under the option vest monthly, starting February 1, 2024, contingent on continuous service. This creates a four-year vesting schedule, aligning the Chief Legal Officer’s compensation with ongoing tenure at Erasca over that period.