Fractyl Health director granted 22,500 stock options

FRACTYL HEALTH, INC. director Ajay Royan received a grant of stock options covering 22,500 shares of common stock at an exercise price of $0.7318 per share as compensation for service on the board.

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Form Type

Rhea-AI Filing Summary

FRACTYL HEALTH, INC. director Ajay Royan received a grant of stock options covering 22,500 shares of common stock at an exercise price of $0.7318 per share as compensation for service on the board.

The options vest in a single installment on the earlier of the next annual stockholder meeting or the first anniversary of the grant, subject to his continued service as a non-employee director, and expire on June 9, 2036. Following this award, Royan holds 22,500 stock options directly.

Insider Trade Summary

Grant/Award: 22,500 shares

Grant/Award 1 txn

Insider Royan Ajay

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option	22,500	$0.00	$0.00

Holdings After Transaction: Stock Option — 22,500 contracts (Direct)

Footnotes (1)

F1. The stock option was awarded as compensation for the Reporting Person's service on the Issuer's board of directors pursuant to the Issuer's non-employee director compensation policy. The stock option will vest and become exercisable in a single installment on the earlier of (i) the date of the next annual meeting of stockholders or (ii) the first anniversary of the grant, in each case subject to continued service on the Issuer's board of directors as a non-employee director through the vesting date.

Key Figures

Option grant size: 22,500 options Exercise price: $0.7318 per share Post-grant holdings: 22,500 options +1 more

4 metrics

Option grant size 22,500 options Stock option award to director Ajay Royan

Exercise price $0.7318 per share Exercise price for the stock options

Post-grant holdings 22,500 options Total options beneficially owned after transaction

Expiration date June 9, 2036 Option expiration for this grant

Key Terms

stock option, non-employee director compensation policy, vest and become exercisable, annual meeting of stockholders

4 terms

stock option financial

"The stock option was awarded as compensation for the Reporting Person's service"

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

non-employee director compensation policy financial

"pursuant to the Issuer's non-employee director compensation policy"

vest and become exercisable financial

"The stock option will vest and become exercisable in a single installment"

annual meeting of stockholders financial

"on the earlier of (i) the date of the next annual meeting of stockholders"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Ajay Royan report in this Form 4 for FRACTYL HEALTH (GUTS)?

Ajay Royan reported receiving a grant of 22,500 stock options as board compensation. The options relate to FRACTYL HEALTH common stock and were awarded under the company’s non-employee director compensation policy.

What is the exercise price of Ajay Royan’s new FRACTYL HEALTH stock options?

The options have an exercise price of $0.7318 per share. This is the price Royan would pay per share to convert the options into FRACTYL HEALTH common stock if he chooses to exercise them.

When do Ajay Royan’s FRACTYL HEALTH stock options vest?

The options vest in a single installment on the earlier of the next annual meeting of stockholders or the first anniversary of the grant date. Vesting requires Royan’s continued service on the board as a non-employee director.

When do Ajay Royan’s FRACTYL HEALTH stock options expire?

The stock options expire on June 9, 2036. After that date, any unexercised options will lapse, meaning Royan would no longer be able to purchase FRACTYL HEALTH common shares using this grant.

How many FRACTYL HEALTH options does Ajay Royan hold after this grant?

After this grant, Ajay Royan holds 22,500 stock options directly. This figure reflects the total number of options reported in this Form 4 as beneficially owned following the transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/11/2026 - 05:03 PM EDT

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^*

Royan Ajay

(Last)

(First)

(Middle)

3 VAN DE GRAAFF DRIVE

SUITE 200

(Street)

BURLINGTON

MASSACHUSETTS

01803

(City)

(State)

(Zip)

UNITED STATES

(Country)

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
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option	$0.7318	06/10/2026		A		22,500		⁽¹⁾	06/09/2036	Common Stock	22,500	$0	22,500	D

Explanation of Responses:

1. The stock option was awarded as compensation for the Reporting Person's service on the Issuer's board of directors pursuant to the Issuer's non-employee director compensation policy. The stock option will vest and become exercisable in a single installment on the earlier of (i) the date of the next annual meeting of stockholders or (ii) the first anniversary of the grant, in each case subject to continued service on the Issuer's board of directors as a non-employee director through the vesting date.

	/s/ Harith Rajagopalan, M.D., Ph.D., Attorney-in-fact	06/11/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR