[Form 4] Erasca, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 overview: On 06/24/2025, Erasca, Inc. (ticker ERAS) granted Director Pratik S. Multani a stock option to purchase 120,000 shares of common stock at an exercise price of $1.45 per share.

Key terms:

• Vesting: 100% of the option vests on 06/24/2026, contingent on continued service.
• Expiration: 06/23/2035, providing a 10-year exercise window after vesting.
• Ownership form: Direct.

No other acquisitions, dispositions, or non-derivative holdings were reported. The filing reflects a routine equity incentive intended to align the director’s interests with shareholders rather than an open-market purchase or sale. The disclosure contains no financial performance data or forward-looking statements.

Insights

Financial Analyst

TL;DR: Routine director option grant; minimal immediate valuation impact.

The single grant of 120,000 options at $1.45 is a standard equity incentive. It does not involve cash outlay by the company today, and dilution is immaterial without exercise. No buying or selling of existing shares occurred, so the filing offers little insight into management’s outlook or near-term trading sentiment. Absent company share count data, the award appears modest and typical for small-cap biotech boards. Overall, I view the filing as a normal course administrative disclosure with negligible effect on valuation.

Corporate Governance Expert

TL;DR: Standard incentive; aligns director interests, no red flags detected.

The option vests after one year of continued service, consistent with common best-practice designs that encourage retention. A 10-year term is conventional. Because the option is granted at-the-money, it links upside to shareholder returns without creating immediate accounting expense beyond fair-value recognition. No indications of 10b5-1 plan usage or accelerated vesting clauses are noted. Governance implications are neutral: transparent disclosure, appropriate signing authority, and no indication of unusual preferential treatment.

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).

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^*

Multani Pratik S

(Last) (First) (Middle)

C/O ERASCA, INC.

3115 MERRYFIELD ROW, SUITE 300

(Street)

SAN DIEGO CA 92121

(City) (State) (Zip)

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

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)
06/24/2025

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

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)	$1.45	06/24/2025		A		120,000		06/24/2026(1)	06/23/2035	Common Stock	120,000	$0	120,000	D

Explanation of Responses:

1. 100% of the options to purchase shares vest on June 24, 2026, subject to the Reporting Person's continuous service to the Issuer on such vesting date.

	/s/ Ebun S. Garner, as Attorney-in-Fact	06/26/2025
	** 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

Who filed the Form 4 for Erasca (ERAS)?

Pratik S. Multani, a director of Erasca, filed the statement of beneficial ownership changes.

How many Erasca shares are covered by the new stock option?

The grant covers 120,000 shares of Erasca common stock.

What is the exercise price of the option granted on 06/24/2025?

The exercise price is $1.45 per share.

When do the options vest and expire?

They vest 100 % on 06/24/2026 and expire on 06/23/2035.

Is this Form 4 indicative of insider buying or selling in the open market?

No. It records an equity incentive grant; no open-market purchases or sales were reported.