[Form 4] Erasca, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Erasca, Inc. (ERAS) – Form 4 insider filing

Director Julie Hambleton received an option grant for 120,000 shares of common stock on 24 June 2025 at an exercise price of $1.45 per share. The option was issued at no cost, vests 100 % on 24 June 2026, and expires on 23 June 2035. Following the grant, Hambleton beneficially owns 120,000 derivative securities, held directly. No non-derivative share transactions were reported. The filing represents routine equity compensation for a board member and does not indicate immediate open-market buying or selling activity.

Positive

• Incentive alignment: Option grant links director compensation to share price appreciation, potentially promoting shareholder-friendly decision-making.

Negative

• Minor dilution risk: If exercised, the 120,000 options will slightly increase share count, though impact is less than 0.1 %.

Insights

Corporate Governance Expert

TL;DR – Routine board option grant; aligns incentives, limited immediate market impact.

This Form 4 discloses a standard director compensation award: 120,000 options at $1.45, cliff-vesting after one year. Such grants are commonplace for biotech boards and aim to retain talent while linking rewards to long-term shareholder value. Because no shares were sold or purchased on-market, the filing does not signal insider sentiment. The size of the grant is modest relative to Erasca’s ~134 million shares outstanding, creating <1 % potential dilution, therefore capital-structure impact is immaterial.

Portfolio Manager

TL;DR – Neutral for valuation; minor dilution, incentive alignment.

From an investment standpoint, the single option grant neither alters cash flows nor changes ownership meaningfully. Exercise price near recent trading range suggests standard practice rather than bargain pricing, and the one-year cliff encourages retention through key development milestones. I view the disclosure as neutral; it neither strengthens nor weakens the investment thesis in ERAS.

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
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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^*

Hambleton Julie

(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

What did the ERAS Form 4 filed on 26 June 2025 disclose?

Director Julie Hambleton was granted 120,000 stock options at a $1.45 exercise price, vesting 24 June 2026.

Did Julie Hambleton buy or sell Erasca shares on the open market?

No. The filing reports an option grant, not an open-market purchase or sale.

When do the newly granted ERAS options vest and expire?

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

How many Erasca shares could be issued if the options are exercised?

Up to 120,000 shares of common stock.

Is the option grant material to Erasca’s share count?

No. 120,000 shares represent less than 0.1 % of the company’s outstanding shares.