Fractyl Health (GUTS) CEO receives 2,486,302 stock options grant

Rhea-AI Filing Summary

Fractyl Health, Inc. disclosed an insider equity award for its Chief Executive Officer and director, Harith Rajagopalan. A stock option covering 2,486,302 shares of common stock was granted on 12/15/2025 at an exercise price of $2.24 per share, with an expiration date of 12/14/2035.

The option vests and becomes exercisable in equal installments on each of the first three anniversaries of the grant date, as long as the reporting person remains employed through each vesting date. Following this grant, the filing reports beneficial ownership of 2,486,302 derivative securities held directly.

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

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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^*

Rajagopalan Harith

(Last) (First) (Middle)

3 VAN DE GRAAFF DRIVE

SUITE 200

(Street)

BURLINGTON MA 01803

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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)	$2.24	12/15/2025		A		2,486,302		(1)	12/14/2035	Common Stock	2,486,302	$0	2,486,302	D

Explanation of Responses:

1. The stock option vests and becomes exercisable in equal installments on each of the first three anniversaries of the grant date, subject to the Reporting Persons's continuing in employment through each such vesting date.

	/s/ Harith Rajagopalan	12/17/2025
	** 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).
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FAQ

What insider transaction did Fractyl Health (GUTS) report in this Form 4?

The filing reports that CEO and director Harith Rajagopalan received a stock option grant covering 2,486,302 shares of Fractyl Health, Inc. common stock.

What is the exercise price and expiration date of the Fractyl Health CEO’s stock options?

The stock option has an exercise price of $2.24 per share and an expiration date of 12/14/2035, as disclosed in the derivative securities table.

How do the Fractyl Health CEO stock options vest?

According to the explanation of responses, the stock option vests in three equal annual installments on each of the first three anniversaries of the 12/15/2025 grant date, subject to continued employment through each vesting date.

How many derivative securities does the Fractyl Health CEO own after this transaction?

After the reported transaction, the Form 4 shows that 2,486,302 derivative securities (stock options) are beneficially owned, held in direct (D) form.

What role does the reporting person hold at Fractyl Health (GUTS)?

The reporting person, Harith Rajagopalan, is identified as both a Director and an Officer, with the title Chief Executive Officer of Fractyl Health, Inc.

Is this Fractyl Health Form 4 filed by more than one reporting person?

No. The form indicates that it is filed by one reporting person, not by a group or multiple filers.