Septerna SVP exercises options, sells 3,333 shares

Septerna, Inc. senior vice president of drug discovery Daniel D. Long reported an exercise-and-sell transaction in company stock.

Rhea-AI Filing Summary

Septerna, Inc. senior vice president of drug discovery Daniel D. Long reported an exercise-and-sell transaction in company stock. On July 1, 2026, he exercised stock options to acquire 3,333 shares of common stock at $2.76 per share and sold 3,333 shares in open-market transactions.

The sales occurred at weighted average prices of $34.0964 and $34.8141, with actual sale prices ranging from $33.49 to $35.10. The filing notes these sales were made under a pre-arranged Rule 10b5-1 trading plan adopted by Long.

Insights

Insider trading and equity compensation analyst

Pre-planned option exercise with matching share sale, net effect is modest.

Daniel D. Long, an executive at Septerna, Inc., exercised stock options for 3,333 shares at $2.76 and sold an equal number of shares at weighted average prices around $34. This pattern is typical of converting incentive compensation into cash.

The filing specifies that the sales were executed under a Rule 10b5-1 trading plan adopted on March 20, 2026, meaning the trades were pre-scheduled rather than opportunistic. The net share change of 3,333 is relatively small in absolute terms, suggesting a routine liquidity move rather than a large repositioning.

Because the plan and vesting terms are clearly defined and there is no accompanying negative disclosure, this event appears administratively neutral for shareholders. Future company filings may provide additional context on Long's remaining option grants and broader executive equity positions.

Insider Trade Summary 10b5-1

Exercise and Sale: 3,333 shares ($105K approx. pre-tax spread)

Exercise and Sale 4 txns

Insider Long Daniel D.

Role SVP, Drug Discovery

Sold 3,333 shs ($115K)

Approx. gross sale proceeds $115K

Approx. exercise cost $9K

Approx. pre-tax spread $105K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	3,333	$0.00	$0.00
Exercise	Common Stock	3,333	$2.76	$9K
Sale	Common Stock	2,100	$34.0964	$72K
Sale	Common Stock	1,233	$34.8141	$43K

Holdings After Transaction: Stock Option (Right to Buy) — 7,043 contracts (Direct); Common Stock — 96,412 shares (Direct)

Footnotes (4)

1. F1. This transaction was effected pursuant to a Rule 10b5-1 sales plan adopted by the Reporting Person on March 20, 2026.
2. F2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $33.49 to $34.46. 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.
3. F3. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $34.52 to $35.10. 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.
4. F4. 1/48th of the shares subject to such option vest and become exercisable in substantially equal monthly installments on each monthly anniversary of August 1, 2023, subject to the Reporting Person's continuous service to the Issuer on each such date.

Key Figures

Shares sold: 3,333 shares Sale price (block 1): $34.8141 per share Sale price (block 2): $34.0964 per share +5 more

8 metrics

Shares sold 3,333 shares Open-market sales of common stock on July 1, 2026

Sale price (block 1) $34.8141 per share Weighted average price for one sale block

Sale price (block 2) $34.0964 per share Weighted average price for second sale block

Option exercise price $2.76 per share Exercise of stock option for 3,333 underlying shares

Net buy/sell shares -3,333 shares Net-sell direction from transaction summary

Remaining options 7,043 derivative shares Stock options outstanding after transaction with 2033 expiration

Rule 10b5-1 plan adoption date March 20, 2026 Pre-arranged trading plan governing the sales

Option expiration November 11, 2033 Expiration date of the stock option series

Key Terms

Rule 10b5-1, weighted average price, Stock Option (Right to Buy), derivative security, +1 more

5 terms

Rule 10b5-1 regulatory

"This transaction was effected pursuant to a Rule 10b5-1 sales plan adopted by the Reporting Person"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

weighted average price financial

"The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions"

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.

Stock Option (Right to Buy) financial

"Stock Option (Right to Buy) ... Exercise or conversion of derivative security"

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

underlying security financial

"underlying security title: Common Stock, underlying security shares: 3333.0000"

FAQ

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

What insider transaction did Septerna (SEPN) report for Daniel D. Long?

Septerna executive Daniel D. Long reported exercising options for 3,333 common shares and selling 3,333 shares in open-market trades. The transactions occurred on July 1, 2026 and reflect a typical option exercise-and-sell pattern tied to his equity compensation.

How many Septerna (SEPN) shares did Daniel D. Long sell and at what prices?

Daniel D. Long sold 3,333 Septerna common shares in total, reported in two blocks at weighted average prices of $34.0964 and $34.8141. Footnotes state the actual trade prices ranged between $33.49 and $35.10 across multiple individual transactions.

Did Daniel D. Long buy or sell Septerna (SEPN) stock overall in this Form 4?

Overall, Daniel D. Long both acquired and sold Septerna stock, creating a net share reduction. He exercised options to acquire 3,333 shares at $2.76 each, then sold 3,333 shares in the market, resulting in net-sell activity of 3,333 shares according to the filing summary.

Was Daniel D. Long’s Septerna (SEPN) stock sale under a Rule 10b5-1 plan?

Yes. A footnote explains the sale was executed under a Rule 10b5-1 sales plan adopted on March 20, 2026. Such pre-arranged trading plans schedule transactions in advance, which generally makes the timing less indicative of short-term views on the stock.

What stock option terms applied to Daniel D. Long’s Septerna (SEPN) option exercise?

The exercised stock option had a $2.76 exercise price and relates to 3,333 underlying common shares. A footnote states that 1/48th of the option vests monthly from August 1, 2023, contingent on Long’s continuous service with Septerna on each vesting date.

Does the Septerna (SEPN) Form 4 show any remaining derivative positions for Daniel D. Long?

The transaction table lists an exercised stock option with an expiration date of November 11, 2033, and a remaining option balance of 7,043 derivative shares after the transaction. These remaining options represent additional potential future equity exposure for Long.

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

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Accepted by SEC EDGAR 07/02/2026 - 07:00 PM EDT 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).

X

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^*

Long Daniel D.

(Last) (First) (Middle)

C/O SEPTERNA, INC.

250 EAST GRAND AVENUE

(Street)

SOUTH SAN FRANCISCO CALIFORNIA 94080

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Septerna, Inc. [ SEPN ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Drug Discovery

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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	07/01/2026		M		3,333	A	$2.76	99,745	D
Common Stock	07/01/2026		S(1)		2,100	D	$34.0964(2)	97,645	D
Common Stock	07/01/2026		S(1)		1,233	D	$34.8141(3)	96,412	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
Stock Option (Right to Buy)	$2.76	07/01/2026		M			3,333	(4)	11/11/2033	Common Stock	3,333	$0	7,043	D

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 sales plan adopted by the Reporting Person on March 20, 2026.

2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $33.49 to $34.46. 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.

3. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $34.52 to $35.10. 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.

4. 1/48th of the shares subject to such option vest and become exercisable in substantially equal monthly installments on each monthly anniversary of August 1, 2023, subject to the Reporting Person's continuous service to the Issuer on each such date.

	/s/ Mark A. Wilson, Attorney-in-Fact	07/02/2026
	** 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)