Septerna executive sells 25,000 shares after option exercise

Q: What did Septerna, Inc. (SEPN) insider Elizabeth Bhatt report in this Form 4?

Elizabeth Bhatt reported exercising 25,000 stock options and selling 25,000 shares of Common Stock at $44.00 per share on August 11, 2026, as part of her compensation-related equity activity.

Q: How many Septerna (SEPN) options did Elizabeth Bhatt exercise and at what prices?

She exercised 18,681 options at an exercise price of $6.81 and 6,319 options at $2.76, converting them into an aggregate of 25,000 Common Stock shares on August 11, 2026.

Q: How many Septerna (SEPN) shares did Elizabeth Bhatt sell and at what price?

Elizabeth Bhatt sold 25,000 shares of Septerna Common Stock at a price of $44.00 per share on August 11, 2026, following the exercise of stock options for the same number of shares.

Q: Was Elizabeth Bhatt’s Septerna (SEPN) stock sale under a Rule 10b5-1 plan?

Yes. The 25,000-share sale at $44.00 was effected under a Rule 10b5-1 sales plan that she adopted on October 20, 2025, indicating trades were pre-arranged under that plan.

Q: What is Elizabeth Bhatt’s role at Septerna (SEPN) mentioned in this Form 4?

Elizabeth Bhatt is identified as President and COO of Septerna, Inc. The reported transactions reflect her executive equity activity, including option exercises and a related share sale on August 11, 2026.

Q: How do the vesting terms work for Elizabeth Bhatt’s Septerna (SEPN) options?

For the reported options, 1/48th of the shares vest monthly on each monthly anniversary of specified grant dates, conditioned on her continuous service to Septerna on each such vesting date.

Septerna, Inc. President and COO Elizabeth Bhatt exercised stock options for a total of 25,000 shares of Common Stock on August 11, 2026, including 18,681 shares at an exercise price of $6.81 and 6,319 shares at $2.76.

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Form Type

Rhea-AI Filing Summary

Septerna, Inc. President and COO Elizabeth Bhatt exercised stock options for a total of 25,000 shares of Common Stock on August 11, 2026, including 18,681 shares at an exercise price of $6.81 and 6,319 shares at $2.76. On the same date, she sold 25,000 Common Stock shares at $44.00 per share. The sale was effected pursuant to a Rule 10b5-1 sales plan adopted on October 20, 2025, and certain options vest in monthly installments subject to her continued service.

Insider Trade Summary 10b5-1

Exercise and Sale: 25,000 shares ($955K approx. pre-tax spread)

Exercise and Sale 5 txns

Insider Bhatt Elizabeth

Role President and COO

Sold 25,000 shs ($1.10M)

Approx. gross sale proceeds $1.10M

Approx. exercise cost $145K

Approx. pre-tax spread $955K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy) ^F2	18,681	$0.00	$0.00
Exercise	Stock Option (Right to Buy) ^F3	6,319	$0.00	$0.00
Exercise	Common Stock	18,681	$6.81	$127K
Exercise	Common Stock	6,319	$2.76	$17K
Sale	Common Stock ^F1	25,000	$44.00	$1.10M

Holdings After Transaction: Stock Option (Right to Buy) — 144,562 contracts (Direct); Common Stock — 174,209 shares (Direct)

Footnotes (3)

F1. This transaction was effected pursuant to a Rule 10b5-1 sales plan adopted by the Reporting Person on October 20, 2025.
F2. 1/48th of the shares subject to such option vest and become exercisable in substantially equal monthly installments on each monthly anniversary of October 28, 2024, subject to the Reporting Person's continuous service to the Issuer on each such date.
F3. 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

Options exercised at $6.81: 18,681 shares at $6.81 Options exercised at $2.76: 6,319 shares at $2.76 Total options exercised: 25,000 shares +2 more

5 metrics

Options exercised at $6.81 18,681 shares at $6.81 Stock options exercised into Common Stock on August 11, 2026

Options exercised at $2.76 6,319 shares at $2.76 Stock options exercised into Common Stock on August 11, 2026

Total options exercised 25,000 shares Aggregate underlying Common Stock from option exercises on August 11, 2026

Shares sold 25,000 shares at $44.00 Common Stock sale on August 11, 2026 under Rule 10b5-1 plan

Rule 10b5-1 plan adoption date October 20, 2025 Date Elizabeth Bhatt adopted the sales plan used for the August 11, 2026 sale

Key Terms

Rule 10b5-1 sales plan, Stock Option (Right to Buy), exercise price, vesting

4 terms

Rule 10b5-1 sales plan regulatory

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

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy) for derivative transactions"

exercise price financial

"conversion_or_exercise_price: 6.8100 and 2.7600 for option exercises"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vesting financial

"shares subject to such option vest and become exercisable in substantially equal"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

FAQ

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

What did Septerna, Inc. (SEPN) insider Elizabeth Bhatt report in this Form 4?

Elizabeth Bhatt reported exercising 25,000 stock options and selling 25,000 shares of Common Stock at $44.00 per share on August 11, 2026, as part of her compensation-related equity activity.

How many Septerna (SEPN) options did Elizabeth Bhatt exercise and at what prices?

She exercised 18,681 options at an exercise price of $6.81 and 6,319 options at $2.76, converting them into an aggregate of 25,000 Common Stock shares on August 11, 2026.

How many Septerna (SEPN) shares did Elizabeth Bhatt sell and at what price?

Elizabeth Bhatt sold 25,000 shares of Septerna Common Stock at a price of $44.00 per share on August 11, 2026, following the exercise of stock options for the same number of shares.

Was Elizabeth Bhatt’s Septerna (SEPN) stock sale under a Rule 10b5-1 plan?

Yes. The 25,000-share sale at $44.00 was effected under a Rule 10b5-1 sales plan that she adopted on October 20, 2025, indicating trades were pre-arranged under that plan.

What is Elizabeth Bhatt’s role at Septerna (SEPN) mentioned in this Form 4?

Elizabeth Bhatt is identified as President and COO of Septerna, Inc. The reported transactions reflect her executive equity activity, including option exercises and a related share sale on August 11, 2026.

How do the vesting terms work for Elizabeth Bhatt’s Septerna (SEPN) options?

For the reported options, 1/48th of the shares vest monthly on each monthly anniversary of specified grant dates, conditioned on her continuous service to Septerna on each such vesting date.

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

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Available on EDGAR 08/13/2026 - 07:00 PM Accepted by SEC EDGAR 08/13/2026 - 07:00 PM

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

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)
	President and COO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/11/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/11/2026		M		18,681	A	$6.81	192,890	D
Common Stock	08/11/2026		M		6,319	A	$2.76	199,209	D
Common Stock	08/11/2026		S⁽¹⁾		25,000	D	$44	174,209	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$6.81	08/11/2026		M			18,681	⁽²⁾	09/22/2034	Common Stock	18,681	$0	62,230	D
Stock Option (Right to Buy)	$2.76	08/11/2026		M			6,319	⁽³⁾	11/11/2033	Common Stock	6,319	$0	82,332	D

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 sales plan adopted by the Reporting Person on October 20, 2025.

2. 1/48th of the shares subject to such option vest and become exercisable in substantially equal monthly installments on each monthly anniversary of October 28, 2024, subject to the Reporting Person's continuous service to the Issuer on each such date.

3. 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	08/13/2026
	** 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)

Source: View Original Filing on SEC EDGAR