SEPN Form 4: 30,000-Option Grant to SVP with 1/48th Monthly Vesting

Rhea-AI Filing Summary

Septerna, Inc. insider Daniel D. Long, the company's SVP of Drug Discovery, received a grant of stock options allowing him to purchase 30,000 shares of Septerna common stock at an exercise price of $11.70 per share.

The option award was recorded with a transaction date of 08/07/2025, carries an expiration date of 08/06/2035, and vests in monthly installments equal to 1/48th of the total award beginning August 1, 2025, subject to continued service. The filing shows the reporting person holds 30,000 options following the transaction and lists the ownership form as direct.

Positive

• Clear, time-based vesting schedule: 1/48th monthly vesting beginning 08/01/2025 supports retention incentives
• Ten-year term to expiration: expiration date 08/06/2035 aligns with long-term alignment between executive and shareholders
• Exercise price disclosed: exercise price is explicitly listed as $11.70, providing transparency on strike terms

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine officer option grant; limited immediate market impact but aligns executive incentives long-term.

The Form 4 documents a standard option grant to an executive: 30,000 options at a $11.70 exercise price with a 10-year contractual horizon to 08/06/2035 and a time-based vesting schedule of 1/48th monthly beginning 08/01/2025. From a securities perspective, this is a compensation-related issuance that typically dilutes over time as vested options are exercised; however, the filing alone does not quantify any immediate dilution relative to outstanding share count or indicate material change to financials.

Corporate Governance Expert

TL;DR: Governance-wise this is a standard retention-style grant with clear vesting; no red flags in the disclosure itself.

The disclosure identifies the reporting person as an officer (SVP, Drug Discovery) and specifies a monthly vesting cadence (1/48th) tied to continued service, which is consistent with long-term incentive practices. The terms shown—exercise price of $11.70, 30,000 option quantity, and expiration in 2035—are explicit. The filing does not show any acceleration clauses or unusual transfer/indirect ownership arrangements.

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
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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^*

Long Daniel D.

(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)
	SVP, Drug Discovery

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		30,000		(1)	08/06/2035	Common Stock	30,000	$0	30,000	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 transaction is reported in the Septerna (SEPN) Form 4?

The Form 4 reports an option grant: 30,000 stock options to purchase common stock at an exercise price of $11.70.

Who is the reporting person on the Form 4 for SEPN?

The reporting person is Daniel D. Long, identified as SVP, Drug Discovery at Septerna.

When does the option vest and when does it expire?

Vesting is 1/48th of the award monthly beginning August 1, 2025, and the options expire on August 6, 2035.

How many derivative securities does Daniel Long beneficially own after the transaction?

The filing shows 30,000 derivative securities (options) beneficially owned following the reported transaction, held in a direct ownership form.

What was the transaction date reported on the Form 4?

The transaction date listed in the filing is 08/07/2025.