[Form 4] LENZ Therapeutics, Inc. Insider Trading Activity

Rhea-AI Filing Summary

LENZ Therapeutics, Inc. (LENZ) – Form 4 insider transaction filed 07/01/2025

Versant Venture Capital VI, L.P. (together with affiliated Versant entities, a >10% beneficial owner of LENZ) reported the sale of 200,000 LENZ common shares on 06/27/2025 at a weighted-average price of $30.465 per share (price range $30.18–$30.75). Following the disposition, the filing shows:

• Direct ownership by Versant Venture Capital VI of 1,767,275 shares.
• Indirect ownership of 1,047,912 shares through Versant Venture Capital VII, L.P. (footnote 3).
• Indirect ownership of 842,162 shares through Versant Vantage II, L.P. (footnote 4).

The aggregate direct sale represents roughly 10.2% of Versant VI’s reported direct holdings before the transaction (calculation assumes no other changes) and signals the first disclosed disposition by the Versant funds in 2025. No derivative security activity was reported. The entities remain above the 10% ownership threshold and continue to have board representation.

Positive

• None.

Negative

• 10% beneficial owner sold 200,000 shares (~$6.1 m) at $30.465, reducing direct stake by ~10%

Insights

Securities Analyst

TL;DR: 10% holder sold 200k shares (~$6.1 m), slightly trimming but retaining sizable stake.

The Form 4 reveals a block sale of 200,000 shares at $30.465, yielding approximately $6.1 million in proceeds. While Versant VI’s remaining 1.77 million direct shares plus 1.89 million indirect shares keep the group comfortably above 10% ownership, the sale constitutes a meaningful 10% reduction in Versant VI’s direct position and may be interpreted by investors as modest profit-taking after recent share appreciation. No 10b5-1 plan is indicated, suggesting discretionary timing. With no corresponding purchases by insiders, the signal skews negative, though not severely dilutive given the company’s public float.

Corporate Governance Expert

TL;DR: Sale is routine fund-level portfolio management; governance risk minimal.

Versant’s multi-entity structure and continued >10% stake limit governance impact. The GP/LP footnotes clarify shared voting power and disclaimers, aligning with standard venture-capital ownership hierarchies. Because Versant retains board representation and a controlling interest bloc, the sale does not materially alter control dynamics. Nonetheless, tracking subsequent Form 4 filings will be important to ascertain whether this marks the start of a distribution trend as lock-up periods expire.

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
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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^*

Versant Venture Capital VI, L.P.

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/27/2025

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

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

	Form filed by One Reporting Person
X	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
Common Stock	06/27/2025		S		200,000	D	$30.465(1)	1,767,275	D(2)
Common Stock								1,047,912	I	See Footnote(3)
Common Stock								842,162	I	See Footnote(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Versant Venture Capital VI, L.P.

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Versant Ventures VI GP, L.P.

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Versant Ventures VI GP-GP, LLC

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Versant Vantage II, L.P.

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Versant Vantage II GP, L.P.

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Versant Vantage II GP-GP, LLC

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Versant Venture Capital VII, L.P.

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Versant Ventures VII GP, L.P.

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Versant Ventures VII GP-GP, LLC

(Last) (First) (Middle)

ONE SANSOME STREET, SUITE 1650

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $30.18 to $30.75, 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 securities sold at each separate price within the ranges set forth in this footnote (1) to this Form 4.

2. These shares are held by Versant Venture Capital VI, L.P. ("VVC VI"). Versant Ventures VI GP-GP, LLC ("VV VI GP") is the sole general partner of Versant Ventures VI GP, L.P. ("VV VI") and VV VI is the sole general partner of VVC VI. Each of VV VI GP and VV VI may be deemed to share voting, investment and dispositive power over the shares held by VVC VI and disclaims beneficial ownership of such shares, except to the extent of their respective pecuniary interests therein.

3. These shares are held by Versant Venture Capital VII, L.P. ("VVC VII"). Versant Ventures VII GP-GP, LLC ("VV VII GP") is the sole general partner of Versant Ventures VII GP, L.P. ("VV VII") and VV VII is the sole general partner of VVC VII. Each of VV VII GP and VV VII may be deemed to share voting, investment and dispositive power over the shares held by VVC VII and disclaims beneficial ownership of such shares, except to the extent of their respective pecuniary interests therein.

4. These shares are held by Versant Vantage II, L.P. ("VV II"). Versant Vantage II GP-GP, LLC ("VV II GP-GP") is the sole general partner of Versant Vantage II GP, L.P. ("VV II GP") and VV II GP is the sole general partner of VV II. Each of VV II GP-GP and VV II GP may be deemed to share voting, investment and dispositive power over the shares held by VV II and disclaims beneficial ownership of such shares, except to the extent of their respective pecuniary interests therein.

	Versant Vantage II, LP By: Versant Vantage II GP, L.P. Its: General Partner By: Versant Vantage II GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	07/01/2025
	Versant Vantage II GP, L.P., By: Versant Vantage II GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	07/01/2025
	Versant Vantage II GP-GP, LLC, By: /s/ Max Eisenberg Its: Chief Operating Officer	07/01/2025
	Versant Venture Capital VI, L.P. By: Versant Ventures VI GP, L.P. Its: General Partner By: Versant Ventures VI GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	07/01/2025
	Versant Ventures VI GP, L.P., By: Versant Ventures VI GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	07/01/2025
	Versant Ventures VI GP-GP, LLC By: /s/ Max Eisenberg Its: Chief Operating Officer	07/01/2025
	Versant Venture Capital VII, L.P. By: Versant Ventures VII GP, L.P. Its: General Partner By: Versant Ventures VII GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	07/01/2025
	Versant Ventures VII GP, L.P., By: Versant Ventures VII GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	07/01/2025
	Versant Ventures VII GP-GP, LLC By: /s/ Max Eisenberg Its: Chief Operating Officer	07/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

How many LENZ shares did Versant sell on 06/27/2025?

The filing reports a sale of 200,000 common shares.

What price did the insider receive for the LENZ shares?

The weighted-average sale price was $30.465 (range $30.18–$30.75).

How many LENZ shares does Versant still hold after the transaction?

Versant VI directly holds 1,767,275 shares and indirectly holds 1,890,074 shares through affiliated funds.

Is Versant still a 10% owner of LENZ Therapeutics?

Yes. After the sale, the Versant entities collectively remain above the 10% ownership threshold.

Were any derivative securities exercised or sold in this Form 4?

No derivative security activity was reported in Table II of the filing.