Keros legal chief sells 4,485 shares at $10.29 avg

Keros Therapeutics, Inc. (KROS) reported a Form 4 for Chief Legal Officer Esther Cho.

Rhea-AI Filing Summary

Keros Therapeutics, Inc. (KROS) reported a Form 4 for Chief Legal Officer Esther Cho. On 2026-08-18, she sold 4,485 shares of common stock at a weighted average price of $10.29 per share in automatic "sell-to-cover" transactions to satisfy tax withholding on vesting restricted stock units. The sales occurred at prices ranging from $10.14 to $10.50 and were not at her discretion. After these sales, she directly holds 35,770 shares, including 500 shares acquired under the company’s 2020 Employee Stock Purchase Plan.

Insider Trade Summary

Net Seller: 4,485 shares

Net Sell 1 txn

Insider Cho Esther

Role Chief Legal Officer

Sold 4,485 shs ($46K)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2, F3	4,485	$10.29	$46K

Holdings After Transaction: Common Stock — 35,770 shares (Direct)

Footnotes (3)

1. F1. The Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and not at the discretion of the Reporting Person.
2. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.14 to $10.50 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
3. F3. Includes an aggregate of 500 shares acquired under the Issuer's 2020 Employee Stock Purchase Plan.

Key Figures

Shares sold: 4,485 shares Weighted average sale price: $10.29 per share Sale price range: $10.14 to $10.50 per share +2 more

5 metrics

Shares sold 4,485 shares Common stock sold by Esther Cho on 2026-08-18

Weighted average sale price $10.29 per share Average price for 4,485 shares sold on 2026-08-18

Sale price range $10.14 to $10.50 per share Price range of multiple sale transactions on 2026-08-18

Shares owned after transaction 35,770 shares Direct holdings of Esther Cho after the reported sale

ESPP shares included 500 shares Shares acquired under the 2020 Employee Stock Purchase Plan included in total holdings

Key Terms

sell-to-cover, restricted stock units, weighted average price

3 terms

sell-to-cover financial

"The Issuer has adopted a "sell-to-cover" policy to satisfy the tax"

Sell-to-cover is when part of newly issued or exercised company stock is immediately sold to pay required taxes and fees, so the recipient keeps the remaining shares. For investors this matters because it reduces the number of shares insiders or employees actually hold after a grant, can create small, routine share sales that aren’t signal of cashing out, and slightly increases share supply on the market—like selling a portion of a paycheck to cover the tax bill.

restricted stock units financial

"tax withholding obligations in connection with the vesting of restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

FAQ

What insider transaction did KROS report for Esther Cho?

Keros Therapeutics reported that Chief Legal Officer Esther Cho sold 4,485 shares of common stock on 2026-08-18 in automatic sell-to-cover transactions related to vesting restricted stock units, at a weighted average price of $10.29 per share.

Why did Esther Cho sell KROS shares in this Form 4?

The filing states Keros Therapeutics has a “sell-to-cover” policy for tax withholding. The 4,485 shares sold by Esther Cho were required to cover tax withholding obligations from the vesting of restricted stock units and were executed automatically, not at her discretion.

What price range did Esther Cho’s KROS share sales occur at?

The Form 4 reports a weighted average price of $10.29 per share. The 4,485 shares of Keros Therapeutics common stock were sold in multiple transactions at prices ranging from $10.14 to $10.50 per share.

How many KROS shares does Esther Cho hold after this transaction?

After the 4,485-share sale, Esther Cho directly holds 35,770 shares of Keros Therapeutics common stock, including an aggregate of 500 shares acquired under the company’s 2020 Employee Stock Purchase Plan.

Was the KROS insider trade made under a Rule 10b5-1 plan?

The filing’s Rule 10b5-1 checkbox is not marked as being under a plan, but the footnote explains the trades were automatic sell-to-cover transactions under the issuer’s tax withholding policy for vesting restricted stock units.

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

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Available on EDGAR 08/20/2026 - 04:10 PM Accepted by SEC EDGAR 08/20/2026 - 04:10 PM Learn about SEC filing dates

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^*

Cho Esther

(Last) (First) (Middle)

C/O KEROS THERAPEUTICS, INC.

1050 WALTHAM STREET, SUITE 302

(Street)

LEXINGTON MASSACHUSETTS 02421

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Keros Therapeutics, Inc. [ KROS ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/18/2026		S		4,485(1)	D	$10.29(2)	35,770(3)	D

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

Explanation of Responses:

1. The Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and not at the discretion of the Reporting Person.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.14 to $10.50 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. Includes an aggregate of 500 shares acquired under the Issuer's 2020 Employee Stock Purchase Plan.

	/s/ Esther Cho	08/20/2026
	** 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)