Every Form 4 that 89bio, Inc. (ETNB) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow ETNB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ETNB filings page.
89bio (ETNB) insiders affiliated with RA Capital reported Form 4 transactions tied to the company’s acquisition by Roche. The footnotes state that shareholders received $14.50 per share in cash plus one non-tradeable contingent value right (CVR) representing potential additional payments of up to $6.00 per share, subject to milestone achievements under the CVR agreement. The merger became effective on October 30, 2025, with 89bio continuing as a wholly owned subsidiary of Roche.
The filing indicates dispositions of common stock and derivative positions in connection with the closing. According to the merger terms, in-the-money warrants were automatically exercised and converted into cash and CVRs, and outstanding options were treated per their exercise prices, with certain out-of-the-money options receiving CVRs as described.
89bio (ETNB) director Kathleen LaPorte reported the disposition/cancellation of stock options in connection with the Roche acquisition. The tender offer closed at $14.50 per share in cash plus one non‑tradeable CVR for potential contingent payments of up to $6.00 per share.
Per the agreement, in-the-money options received cash equal to the excess of $14.50 over the exercise price for each underlying share, plus one CVR per share. Out‑of‑the‑money options with exercise prices between $14.50 and $20.50 received the CVR and may receive future milestone payments under the CVR terms; options with exercise prices at or above $20.50 were cancelled without consideration. Reported grants disposed on 10/30/2025 included, for example, 25,000 options at $18.68 and 56,400 options at $9.60.
89bio (ETNB) disclosed an insider transaction tied to its acquisition by Roche. Director Michael R. Hayden reported the disposition of common stock and stock options on 10/30/2025 in connection with the deal’s closing mechanics.
Shares were tendered/converted for $14.50 per share in cash plus one non‑tradeable CVR worth up to $6.00 per share upon specified milestones. Reported holdings included 80,904 shares (direct), 103,978 shares (indirect via Genworks 2 Consulting Inc., controlled by the reporting person’s spouse), and 61,538 shares (indirect via The Hayden Family Trust, controlled by the reporting person’s spouse). The filing shows 0 shares beneficially owned after the transaction.
Outstanding stock options became fully vested immediately prior to the merger and were cancelled for cash equal to any in‑the‑money value plus one CVR per underlying share. Options with exercise prices at or above $14.50 and below $20.50 received CVRs only, while options with exercise prices at or above $20.50 were cancelled without consideration.
89bio (ETNB) CFO Ryan Martins reported merger-related equity transactions tied to the Roche acquisition. On October 30, 2025, a tender offer was completed and followed by a merger in which each common share was exchanged for $14.50 in cash plus one non-tradeable CVR with potential contingent payments of up to $6.00 per share, subject to the CVR Agreement.
Immediately prior to the effective time, previously granted performance-based RSUs vested and settled into 35,000 shares. All outstanding common shares were then exchanged for the offer consideration, and the reporting person showed 0 shares beneficially owned after the transaction. Stock options became fully vested; in general, in-the-money options received cash equal to intrinsic value plus a CVR per underlying share, options with exercise prices between $14.50 and $20.50 received a CVR per underlying share, and options at or above $20.50 were cancelled without consideration.
89bio (ETNB) filed a Form 4 showing director transactions tied to its sale to Roche. On 10/30/2025, Roche completed a tender offer for all 89bio shares at $14.50 in cash per share plus one non‑tradeable contingent value right (CVR) of up to $6.00 per share, followed by a merger.
Per the merger terms, outstanding options became fully vested and, if in‑the‑money, were canceled for cash equal to the excess of $14.50 over the exercise price per share, plus one CVR per underlying share. Options with exercise prices between $14.50 and $20.50 became entitled to CVR economics only. Options with exercise prices at or above $20.50 were canceled without any cash or CVR.
89bio (ETNB) filed a Form 4 for its Chief Executive Officer and director reflecting transactions tied to the completion of its merger with Roche. On 10/30/2025, the reporting person acquired 125,000 shares of common stock at $0, representing settlement of performance-based RSUs that vested immediately prior to the merger’s effective time.
The filing also reports a disposition of 934,273 shares pursuant to the change‑of‑control transaction. Holders received $14.50 per share in cash plus one contingent value right (CVR) for each share, with potential additional cash payments of up to $6.00 per share upon specified milestones, as outlined in the CVR Agreement. In connection with the merger, outstanding options became fully vested and were converted into cash equal to any in‑the‑money value plus one CVR per underlying share; options with exercise prices at or above $20.50 were cancelled without consideration.
89bio (ETNB) director reported tender offer-related transactions. On 10/30/2025, 25,000 shares of common stock were disposed of pursuant to the Roche acquisition. Holders received $14.50 per share in cash plus one non-tradeable contingent value right (CVR) that may pay up to an additional $6.00 per share upon specified milestones. Following the transaction, the reporting person held 0 shares.
In connection with the merger’s effective time, outstanding stock options were canceled and converted per the agreement. Two option grants—67,700 shares at a $8.39 exercise price (expiring 08/05/2034) and 56,400 shares at a $9.60 exercise price (expiring 02/01/2035)—were reported as disposed with 0 remaining. Under the agreement, fully vested options received cash equal to the spread over $14.50 plus one CVR per underlying share, while certain higher‑strike options received only CVRs, and any option with a strike at or above $20.50 was canceled without consideration.
89bio, Inc. (ETNB) director Edward Morrow Atkinson III reported derivative transactions tied to the company’s change of control. On October 30, 2025, following Roche Holdings, Inc.’s tender offer and subsequent merger, multiple stock option grants were disposed of or cancelled pursuant to the merger terms.
Holders of options with an exercise price below the $14.50 per share cash consideration became entitled to cash equal to the in‑the‑money amount plus one non‑tradeable contingent value right (CVR) per underlying share. Each CVR provides potential contingent payments of up to an aggregate $6.00 per share, payable upon specified milestones under the CVR Agreement. Options with exercise prices equal to or above $14.50 but less than $20.50 were eligible to receive CVRs (and potential milestone payments as defined), while options at or above $20.50 were cancelled without payment.
Reported grants included options with exercise prices of $4.44, $14.70, $9.98, and $9.60, each showing 0 derivative securities beneficially owned following the transactions, held directly.
89bio (ETNB) director Lota S. Zoth reported derivative transactions tied to the closing of Roche’s acquisition on October 30, 2025. The deal paid $14.50 per share in cash, plus one non‑tradeable contingent value right (CVR) for potential payments of up to $6.00 per share upon specified milestones.
Per the merger terms, each outstanding stock option became fully vested and, if unexercised at closing, was cancelled and converted into the right to receive cash equal to the excess of the $14.50 cash amount over its exercise price, plus one CVR for each underlying share. Options with exercise prices ≥ $14.50 and < $20.50 were entitled to CVRs and potential milestone cash if thresholds are met. Options with exercise prices ≥ $20.50 were cancelled without payment or CVR.
Table II shows dispositions of multiple stock option grants (e.g., 20,000 at $24.05, 12,500 at $24.16, 25,000 at $2.64, 27,400 at $14.70, 45,150 at $9.98, 56,400 at $9.60), with post‑transaction derivative holdings reported as 0.
89bio (ETNB) insider transaction tied to merger completion: A company officer reported activity on 10/30/2025 connected to the Roche acquisition terms. The filing shows 50,000 shares of common stock were acquired at $0 upon settlement of performance-based RSUs immediately prior to the effective time of the merger.
The officer then reported dispositions pursuant to the agreement: 351,684 shares of common stock (direct) and 13,694 shares (indirect, by spouse) were cancelled in exchange for the offer consideration of $14.50 per share in cash plus one CVR that may pay up to an additional $6.00 per share, subject to specified milestones. Multiple stock options were also cancelled/converted per the agreement mechanics, including options covering 4,063 and 3,312 shares at an exercise price of $3.11, and 50,000 shares at $32.50. Options with an exercise price of $20.50 or more were cancelled without payment.
89bio (ETNB): Director Form 4 tied to Roche acquisition
Director Martin Babler reported the disposition of stock options in connection with the closing of Roche’s tender offer and subsequent merger on 10/30/2025. Two option grants were cancelled pursuant to the Merger Agreement: 67,700 options at a $8.86 exercise price (expiring 05/02/2034) and 56,400 options at $9.60 (expiring 02/01/2035), leaving 0 derivative securities owned after the transactions.
Holders received the merger consideration mechanics: $14.50 per share in cash plus one contingent value right (CVR) of up to $6.00 per share, subject to milestones, with in‑the‑money options paid the cash spread plus a CVR per underlying share. Out‑of‑the‑money options received CVRs as described; options with exercise prices at or above $20.50 were cancelled without payment.
89bio, Inc. (ETNB) completed its merger with Roche after Roche’s subsidiary closed a tender offer on October 30, 2025. Holders of 89bio common stock were entitled to $14.50 per share in cash, plus one non-tradeable contingent value right (CVR) representing potential contingent payments of up to an aggregate $6.00 per share, subject to milestone achievement under the CVR Agreement.
Outstanding employee stock options were treated per the agreement: in-the-money options received cash equal to the excess of the $14.50 closing amount over the exercise price for each underlying share, plus one CVR per share. Options with an exercise price at or above $14.50 but below $20.50 received no cash at closing but received a CVR and may receive milestone payments based on a defined formula. Options with an exercise price at or above $20.50 were cancelled with no cash or CVR. The reporting person, a director, reported multiple option disposals on 10/30/2025 in connection with the merger.
89bio (ETNB) insider transaction: The company’s Chief Operating Officer reported the disposition of 75,310 shares of common stock on 10/30/2025 in connection with the closing of Roche’s acquisition. Holders received $14.50 per share in cash plus one non‑tradeable contingent value right (CVR) that may pay up to an additional $6.00 per share upon specified milestones.
According to the filing, all remaining beneficial ownership dropped to 0 shares following the transaction. Previously held stock options covering 350,000 and 215,000 underlying shares were cancelled or converted for cash-and-CVR consideration as outlined in the merger terms, depending on each option’s exercise price.
89bio (ETNB) insider transaction tied to merger completion. On 10/30/2025, Chief Medical Officer Harry H. Mansbach reported transactions associated with the Roche acquisition. He disposed of 352,656 shares of common stock in exchange for $14.50 per share in cash plus one non-tradeable CVR representing contingent payments of up to $6.00 per share, as provided by the merger terms.
Immediately prior to the effective time of the merger, 50,000 common shares were acquired at $0 upon settlement of performance-based RSUs. All listed stock options were canceled pursuant to the agreement: in-the-money options were converted into the right to receive cash equal to the excess of the $14.50 closing amount over the exercise price per underlying share plus one CVR; out-of-the-money options received CVRs only; options with exercise prices at or above $20.50 were canceled without consideration. Following the reported transactions, beneficial ownership showed 0 common shares and 0 derivative securities.
89bio (ETNB) reported insider activity by CFO Ryan Martins on 10/22/2025. He exercised stock options for 76,901 shares at $3.11 and 3,898 shares at $4.44, increasing his directly held common stock to 339,295 shares after the transactions.
The $3.11 option position is now 0 following exercise, while 48,102 options remain from the $4.44 grant. The filing notes an administrative error previously omitted the exercise of an aggregate of 5,000 options from a March 27, 2023 report; this filing corrects the reported holdings.