SEPN insider award: 95,000 stock options at $11.70 strike

Rhea-AI Filing Summary

Septerna, Inc. reporting person Elizabeth Bhatt, President and COO, was granted a stock option to acquire 95,000 shares of common stock with an $11.70 exercise price. The transaction is reported with a transaction date of 08/07/2025 and the option appears as a direct holding following the grant.

The option vests in equal monthly installments equal to 1/48th of the shares beginning August 1, 2025, subject to continued service, and the instrument shows an expiration date of 08/06/2035. The filing documents the grant terms but does not disclose the company’s outstanding share count or any cash paid for the award.

Positive

• 95,000-share stock option granted to Elizabeth Bhatt (President and COO)
• $11.70 exercise price for the option grant as disclosed
• Vesting schedule: 1/48th of shares vest monthly beginning August 1, 2025
• Expiration date: 08/06/2035 as shown in the filing
• Direct ownership of the option is disclosed (reported as Direct)

Negative

• None.

Insights

Financial Analyst

TL;DR: President/COO received a 95,000-share option grant at $11.70 with a 48-month monthly vesting schedule.

The grant increases the reporting person’s direct potential ownership by 95,000 shares through a newly acquired stock option. Key contract terms are explicit: $11.70 strike, monthly vesting of 1/48th starting August 1, 2025, and an expiration date of 08/06/2035. For valuation or dilution impact, the filing lacks outstanding share figures and current market price, so material financial impact cannot be quantified from this document alone. As a routine executive compensation event, it is informative for monitoring insider incentives but not, by itself, a definitive valuation signal.

Corporate Governance Expert

TL;DR: Standard time‑based option award to an executive with multi‑year monthly vesting; governance disclosure appears complete for this award.

The filing discloses the essential grant mechanics and vesting schedule (1/48th monthly starting August 1, 2025) and identifies the reporting person’s role as President and COO. The option is recorded as a direct holding of 95,000 underlying shares. The document does not include additional governance context such as committee approval details or comparator metrics. Based solely on the filing, this is a typical equity compensation disclosure rather than an extraordinary corporate action.

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^*

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)
08/07/2025

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)	$11.7	08/07/2025		A		95,000		(1)	08/06/2035	Common Stock	95,000	$0	95,000	D

Explanation of Responses:

1. 1/48th of the shares subject to such option shall vest and become exercisable in substantially equal monthly installments on each monthly anniversary of August 1, 2025, subject to the Reporting Person's continuous service to the Issuer on each such date.

	/s/ Ran Xiao, Attorney-in-Fact	08/11/2025
	** 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 option grant did Septerna (SEPN) report for Elizabeth Bhatt?

The filing shows a stock option to acquire 95,000 shares granted to Elizabeth Bhatt $11.70 exercise price.

When does the 95,000-share option vest and expire for SEPN insider?

Vesting is 1/48th monthly beginning August 1, 2025, and the option's expiration date is listed as 08/06/2035.

Was the SEPN option reported as direct or indirect ownership?

The option is reported as Direct (D) beneficial ownership following the transaction.

What transaction date is shown on the Form 4 for SEPN?

The transaction date reported in the Form 4 is 08/07/2025.

Does the filing disclose how much was paid for the option grant?

The filing shows a $0 entry in the option price field indicative of an awarded grant rather than a purchase, but it does not disclose cash consideration beyond the exercise price disclosure.