Director at Zenas BioPharma (ZBIO) receives 18,500 stock options at $18.71 strike

Rhea-AI Filing Summary

Zenas BioPharma, Inc. director Patrick G. Enright reported receiving a grant of stock options covering 18,500 shares of common stock at an exercise price of $18.71 per share. The options were awarded as compensation and are held directly.

The option vests as to 100% of the 18,500 underlying shares on June 15, 2027, subject to his continued service, and expires on June 15, 2036. No open-market purchase or sale of Zenas BioPharma common stock was reported in this filing.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider ENRIGHT PATRICK G

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	18,500	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 18,500 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Option grant size: 18,500 options Exercise price: $18.71 per share Underlying shares: 18,500 shares +3 more

6 metrics

Option grant size 18,500 options Stock Option (Right to Buy) granted June 15, 2026

Exercise price $18.71 per share Strike price for granted stock options

Underlying shares 18,500 shares Common stock underlying the option grant

Post-transaction option holdings 18,500 options Total options held directly after grant

Vesting date June 15, 2027 100% of underlying shares vest on this date

Expiration date June 15, 2036 Option expiration for this grant

Key Terms

Stock Option (Right to Buy), underlying shares of common stock, exercise price, vesting commencement date

4 terms

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy)"

underlying shares of common stock financial

"The option vests as to 100% of the underlying shares of common stock"

exercise price financial

"conversion_or_exercise_price: 18.7100"

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 commencement date financial

"the first anniversary of the vesting commencement date, subject to continued service"

The vesting commencement date is the starting point when an employee begins earning ownership rights to their promised benefits, such as stock options or retirement contributions. Think of it like the day a savings account is opened—only after this date do the benefits start to grow and become fully available over time. It matters to investors because it marks when the clock begins ticking toward full ownership, affecting the timing and value of these benefits.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/17/2026 - 06:01 PM Accepted by SEC EDGAR 06/17/2026 - 06:00 PM Learn about SEC filing dates

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^*

ENRIGHT PATRICK G

(Last) (First) (Middle)

C/O ZENAS BIOPHARMA, INC.

852 WINTER ST., SUITE 250

(Street)

WALTHAM MASSACHUSETTS 02451

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Zenas BioPharma, Inc. [ ZBIO ]

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)
06/15/2026

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)	$18.71	06/15/2026		A		18,500		(1)	06/15/2036	Common Stock	18,500	$0	18,500	D

Explanation of Responses:

1. The option vests as to 100% of the underlying shares of common stock on June 15, 2027, the first anniversary of the vesting commencement date, subject to continued service.

	By: /s/ Jeffrey Held, Attorney-in-Fact	06/17/2026
	** 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 did Zenas BioPharma (ZBIO) director Patrick Enright report in this Form 4?

He reported a grant of stock options for 18,500 shares of Zenas BioPharma common stock at an exercise price of $18.71 per share, reflecting equity-based director compensation rather than an open-market stock trade.

Is Patrick Enright buying or selling Zenas BioPharma (ZBIO) shares in this Form 4?

He is not buying or selling shares in the market. The filing shows an option grant as compensation, giving rights to acquire 18,500 shares at $18.71, subject to vesting conditions and future exercise decisions.

When do Patrick Enright’s Zenas BioPharma (ZBIO) stock options vest?

The options vest as to 100% of the 18,500 underlying shares on June 15, 2027. Vesting is conditioned on his continued service through that date, according to the footnote disclosure.

What is the exercise price and expiration date of the Zenas BioPharma (ZBIO) options?

The stock options have an exercise price of $18.71 per share and expire on June 15, 2036. This defines the price he would pay and the final date to exercise these rights if vested.

How many Zenas BioPharma (ZBIO) options does Patrick Enright hold after this transaction?

After the reported grant, he holds 18,500 stock options directly. These options correspond to 18,500 underlying shares of common stock, all subject to the vesting schedule and the stated expiration date.