155,000 options granted to Septerna (SEPN) president and COO Bhatt

Rhea-AI Filing Summary

Septerna, Inc. reported that President and COO Elizabeth Bhatt received a stock option grant on February 6, 2026. The option covers 155,000 shares of common stock at an exercise price of $25.41 per share and is held directly.

According to the vesting terms, 2/48 of the option will vest and become exercisable on March 1, 2026. The remaining shares will vest in 46 substantially equal monthly installments on each monthly anniversary thereafter, as long as Bhatt continues to provide service to Septerna.

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

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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^*

Bhatt Elizabeth

(Last) (First) (Middle)

C/O SEPTERNA, INC.

250 EAST GRAND AVENUE

(Street)

SOUTH SAN FRANCISCO CA 94080

(City) (State) (Zip)

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)
	President and COO

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2026

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

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

X	Form filed by One Reporting Person
	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

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)	$25.41	02/06/2026		A		155,000		(1)	02/05/2036	Common Stock	155,000	$0	155,000	D

Explanation of Responses:

1. 2/48th of the shares subject to such option shall vest and become exercisable on March 1, 2026 and the remaining shares subject to the option shall vest in 46 substantially equal monthly installments on each monthly anniversary thereafter, subject to the Reporting Person's continuous service to the Issuer on each such date.

Remarks:

Exhibit 24.2 - Substitute Power of Attorney

	/s/ Mark A. Wilson, Attorney-in-Fact	02/10/2026
	** 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.

FAQ

What insider transaction did Septerna (SEPN) report in this Form 4?

Septerna reported a stock option grant to its President and COO, Elizabeth Bhatt. She received options covering 155,000 shares of common stock, with the award structured as equity compensation rather than an open-market purchase or sale of existing shares.

How many Septerna (SEPN) shares are covered by Elizabeth Bhatt’s option grant?

The option grant to Elizabeth Bhatt covers 155,000 shares of Septerna common stock. This entire amount was reported as beneficially owned following the transaction, reflecting a new derivative position rather than a cash purchase of already outstanding shares.

What is the exercise price of Elizabeth Bhatt’s Septerna (SEPN) stock options?

The stock options granted to Elizabeth Bhatt have an exercise price of $25.41 per share. This is the price she must pay per share to convert the options into Septerna common stock once the options are vested and she chooses to exercise them.

What is the vesting schedule for Elizabeth Bhatt’s Septerna (SEPN) stock options?

The vesting schedule grants 2/48 of the options on March 1, 2026. The remaining shares vest in 46 substantially equal monthly installments afterward, conditioned on Bhatt’s continued service to Septerna on each vesting date under the award terms.

Is Elizabeth Bhatt’s Septerna (SEPN) option grant a purchase or sale of stock?

The filing shows an award of stock options, not a stock purchase or sale. The options were granted at no reported cost per option, with a $25.41 exercise price applying only if and when Bhatt chooses to exercise vested options.

How many Septerna (SEPN) derivative securities does Elizabeth Bhatt own after this grant?

After the reported transaction, Elizabeth Bhatt beneficially owns 155,000 stock options. All of these are held directly, and they relate to the right to acquire Septerna common shares in the future once the vesting and exercise conditions are satisfied.

When do Elizabeth Bhatt’s Septerna (SEPN) stock options expire?

The stock options granted to Elizabeth Bhatt are scheduled to expire on February 5, 2036. She may exercise vested portions of the option at the $25.41 per share exercise price any time before that expiration date, consistent with plan and award terms.