[Form 3] Fractyl Health, Inc. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Christopher Charles Thompson filed an Initial Statement of Beneficial Ownership (Form 3) reporting his relationship as a Director of Fractyl Health, Inc. (ticker GUTS) related to an event dated 09/02/2025. The filing lists a stock option covering 20,969 shares of common stock with an exercise price of $2.67, exercisable beginning 06/27/2026. The filing states the option is fully vested and currently exercisable. The form was signed by attorney-in-fact Lisa A. Davidson on 09/04/2025. The reporter’s address is provided as Burlington, MA.

Positive

• Disclosure compliance: Initial Form 3 filed, meeting Section 16 reporting requirements
• Insider alignment: Director holds equity incentive in the form of a stock option (20,969 shares)

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine initial ownership disclosure showing a director holds a vested stock option; no immediate market-moving details.

The Form 3 is a standard Section 16 filing establishing beneficial ownership for a newly reporting insider. It discloses a single stock option for 20,969 shares at $2.67 exercise price and notes the option is fully vested and exercisable. As a disclosure document, it confirms insider alignment with equity incentives but contains no information on share sales, acquisitions, or other transactions that would alter outstanding share counts or liquidity. Materiality to investors is limited absent further transactions or company-level developments.

Corporate Governance Expert

TL;DR: Properly executed initial Form 3 documenting director’s option; governance compliance appears satisfied based on the filing.

The filing identifies the reporting person as a Director and the form type as an initial statement, meeting Section 16 timing and content requirements. The inclusion of an Exhibit 24 power of attorney and signature by attorney-in-fact indicates procedural steps were followed. The document does not disclose any irregularities, amendments, or derivative instruments beyond the single option listed. From a governance perspective, this is a routine transparency filing without additional governance implications disclosed here.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Thompson Christopher Charles

(Last) (First) (Middle)

3 VAN DE GRAAFF DRIVE

SUITE 200

(Street)

BURLINGTON MA 01803

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/02/2025

3. Issuer Name and Ticker or Trading Symbol
FRACTYL HEALTH, INC. [ GUTS ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	(1)	06/27/2026	Common Stock	20,969	$2.67	D

Explanation of Responses:

1. The stock option is fully vested and currently exercisable

Remarks:

Exhibit 24 - Power of Attorney.

	/s/ Lisa A. Davidson, Attorney-in-fact	09/04/2025
	** 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 5 (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 Christopher Charles Thompson disclose on the Form 3 for GUTS?

He disclosed a stock option for 20,969 shares of Fractyl Health common stock with an exercise price of $2.67, and noted the option is fully vested and currently exercisable.

When was the event requiring this Form 3 reported for GUTS?

The Date of Event Requiring Statement is 09/02/2025 and the form was signed by attorney-in-fact on 09/04/2025.

What is the exercisable date and price for the derivative security reported?

The stock option lists an exercisable date of 06/27/2026 for 20,969 underlying shares at an exercise price of $2.67.

What relationship does the reporting person have to Fractyl Health (GUTS)?

The filing indicates the reporting person is a Director of Fractyl Health, Inc.

Was the Form 3 filed individually or jointly?

The filing indicates Form filed by One Reporting Person (individual filing).