Upstream Bio (UPB) director awarded 17,096 stock options at $6.69

Rhea-AI Filing Summary

Upstream Bio, Inc. director Daniella Beckman received a grant of stock options covering 17,096 shares of common stock. The options have an exercise price of $6.69 per share and expire on June 8, 2036. Following this grant, she holds 17,096 derivative securities directly.

These options will vest in full on the earlier of June 9, 2027 or the date of the company’s next Annual Meeting of Stockholders, provided she continues to serve through the vesting date. This filing reflects a compensation-related award rather than an open-market transaction.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Beckman Daniella

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	17,096	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 17,096 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Options granted: 17,096 options Exercise price: $6.69 per share Expiration date: June 8, 2036 +2 more

5 metrics

Options granted 17,096 options Grant of stock options to director on June 9, 2026

Exercise price $6.69 per share Strike price of stock option grant

Expiration date June 8, 2036 Option term end date for the grant

Underlying shares 17,096 shares Common stock underlying the options

Post-transaction holdings 17,096 derivative securities Options held directly after the grant

Key Terms

Stock Option (Right to Buy), exercise price, expiration date, Annual Meeting of Stockholders

4 terms

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy)"

exercise price financial

"conversion_or_exercise_price: 6.6900"

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.

expiration date financial

"expiration_date: 2036-06-08T00:00:00.000Z"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

Annual Meeting of Stockholders financial

"earlier of June 9, 2027 and the date of the next Annual Meeting of Stockholders"

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Form 4 Insider Transactions: What Each Field Means →

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^*

Beckman Daniella

(Last) (First) (Middle)

UPSTREAM BIO, INC.

890 WINTER STREET, SUITE 200

(Street)

WALTHAM MASSACHUSETTS 02451

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Upstream Bio, Inc. [ UPB ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/09/2026

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

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)	$6.69	06/09/2026		A		17,096		(1)	06/08/2036	Common Stock	17,096	$0	17,096	D

Explanation of Responses:

1. The shares underlying this option shall vest in full upon the earlier of (i) June 9, 2027 and (ii) the date of the next Annual Meeting of Stockholders of the Issuer, subject to the Reporting Person's continued service on such vesting date.

	/s/ Allison Ambrose, Attorney-in-Fact	06/11/2026
	** 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)

FAQ

What insider transaction did Upstream Bio (UPB) report for Daniella Beckman?

Upstream Bio reported that director Daniella Beckman received a grant of stock options for 17,096 shares. This is a compensation-related award, not an open-market trade, and gives her the right to buy common stock at a fixed exercise price.

How many Upstream Bio (UPB) stock options were granted to Daniella Beckman?

Daniella Beckman was granted stock options covering 17,096 underlying shares of Upstream Bio common stock. All 17,096 derivative securities are shown as held directly after the transaction, reflecting her entire option position from this grant in the filing.

What is the exercise price and expiration date of the Upstream Bio (UPB) options?

The stock options granted to Daniella Beckman have an exercise price of $6.69 per share and expire on June 8, 2036. She can choose to exercise these options any time after they vest and before the expiration date, subject to plan terms.

When do Daniella Beckman’s Upstream Bio (UPB) stock options vest?

The options will vest in full on the earlier of June 9, 2027 or the date of Upstream Bio’s next Annual Meeting of Stockholders. Vesting is contingent on her continued service with the company through that vesting date, according to the footnote disclosure.

Is the Upstream Bio (UPB) Form 4 transaction a stock purchase or sale?

The Form 4 shows an option grant acquisition, not a stock purchase or sale. Code A indicates a grant or award, so Beckman received options as compensation rather than buying in the market or selling existing shares of Upstream Bio stock.

How significant is this Upstream Bio (UPB) insider option grant for investors?

This Form 4 reflects a routine director compensation grant of 17,096 options. It does not involve cash trades in the open market and is a standard equity incentive, so its direct market impact is typically limited compared with large insider purchases or sales.