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

Rhea-AI Filing Summary

Form 4 highlights for LENZ Therapeutics, Inc. (LENZ) filed 20-Jun-2025:

Multiple Versant Venture–affiliated funds, each classified as a 10% beneficial owner, reported open-market sales of LENZ common stock on 18-Jun-2025 and 20-Jun-2025.

• 18-Jun-2025: Versant Venture Capital VII, L.P. (indirect holding) sold 100,000 shares at $29.95.
• 20-Jun-2025: The same fund sold an additional 100,877 shares at $30.35.
• 20-Jun-2025: Versant Venture Capital VI, L.P. (direct holding) sold 133,924 shares at $30.25.

Total shares disposed across the two trading days amount to 334,801 shares, representing gross proceeds of roughly $10.1 million based on the stated sale prices.

Post-sale ownership:

• Versant Venture Capital VII, L.P. now holds 1,047,912 shares (indirect).
• Versant Venture Capital VI, L.P. now holds 1,967,275 shares (direct).
• Versant Vantage II, L.P. continues to hold 842,162 shares (indirect, no new transactions).

All reporting entities remain above the 10 % threshold and continue to be classified as insiders. No derivative transactions were reported. The filing does not disclose reasons for the sales or any 10b5-1 trading plan reliance, therefore investors should interpret the activity strictly as open-market disposals by a significant shareholder.

Positive

• None.

Negative

• Large insider selling: Versant entities disposed of 334,801 shares, representing roughly 14 % of their prior holdings, which can signal reduced confidence or create share overhang.

Insights

Financial Analyst

TL;DR: 10% owner Versant sold 335k LENZ shares (~$10m) but still retains large stake; signals modest negative sentiment.

Three sizeable open-market sales by Versant funds reduce their collective position by roughly 14 % (334,801 shares vs. 2.86 million pre-sale). While Versant remains a strategic holder, trimming at ~$30 suggests profit-taking near recent highs. No offsetting insider purchases or option exercises were disclosed, and no 10b5-1 checkbox was marked, implying discretionary selling. Absent fundamental news, such sales are often interpreted as a mildly bearish indicator, especially given Versant’s board representation potential. However, the group still owns more than 3.8 million shares, limiting immediate governance impact. Investors should monitor further filings for a trend.

Corporate Governance Expert

TL;DR: Insider sales by a control-level holder raise governance and overhang considerations for LENZ.

Versant’s status as a >10 % holder gives it significant influence; any reduction in stake can alter control dynamics. Though the funds remain insiders, cumulative disposition of ~335 k shares introduces additional free float and potential share-price pressure. The absence of a stated Rule 10b5-1 plan leaves open the question of timing rationale. Nevertheless, Versant’s layered GP/LP structure, as detailed in the footnotes, continues to exercise voting power over nearly 3.9 million shares, so board dynamics are unlikely to shift immediately. From a governance standpoint, disclosure is complete and timely; impact is modest but directionally negative if further sales follow.

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^*

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)
06/18/2025

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	06/18/2025		S		100,000	D	$29.95	1,148,789	I	See footnote(1)
Common Stock	06/20/2025		S		100,877	D	$30.35	1,047,912	I	See footnote(1)
Common Stock	06/20/2025		S		133,924	D	$30.25	1,967,275	D(2)
Common Stock								842,162	I	See footnote(3)

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. 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.

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 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	06/20/2025
	Versant Vantage II GP, L.P., By: Versant Vantage II GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	06/20/2025
	Versant Vantage II GP-GP, LLC, By: /s/ Max Eisenberg Its: Chief Operating Officer	06/20/2025
	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	06/20/2025
	Versant Ventures VI GP, L.P., By: Versant Ventures VI GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	06/20/2025
	Versant Ventures VI GP-GP, LLC By: /s/ Max Eisenberg Its: Chief Operating Officer	06/20/2025
	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	06/20/2025
	Versant Ventures VII GP, L.P., By: Versant Ventures VII GP-GP, LLC Its: General Partner By: /s/ Max Eisenberg Its: Chief Operating Officer	06/20/2025
	Versant Ventures VII GP-GP, LLC By: /s/ Max Eisenberg Its: Chief Operating Officer	06/20/2025
	** 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 in June 2025?

Versant-affiliated funds sold 334,801 common shares on 18-Jun-2025 and 20-Jun-2025.

What prices were the LENZ shares sold at?

Reported sale prices were $29.95, $30.35, and $30.25 per share.

How many LENZ shares does Versant still own after the transactions?

The filing shows remaining holdings of 1,047,912 (VVC VII), 1,967,275 (VVC VI) and 842,162 (Vantage II) shares.

Did the Form 4 indicate use of a Rule 10b5-1 trading plan?

No. The 10b5-1 checkbox was not marked, indicating discretionary open-market sales.

Were any derivative securities involved in the June 2025 insider transactions?

No derivative transactions were reported in Table II of the Form 4.