Ryan Cohlhepp, President and Chief Operating Officer of Bicara Therapeutics Inc., filed a Form 4 on August 12, 2026, disclosing the exercise of stock options and the sale of 18,750 shares of common stock on August 10, 2026, pursuant to a Rule 10b5-1 trading plan.

Key Highlights

  • Option exercise: Cohlhepp acquired 18,750 shares of common stock via a stock option exercise at a conversion price of $3.7898 per share on August 10, 2026.
  • Shares sold: 18,750 shares of common stock were disposed of at a weighted average price of $27.9751 per share, with individual transactions ranging from $27.56 to $28.41.
  • Trading plan: Both transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on March 31, 2026.
  • Remaining direct ownership: Following the transactions, Cohlhepp directly holds 181,641 shares of common stock.
  • Remaining options: Cohlhepp retains 51,752 stock options with an exercise price of $3.7898 and an expiration date of April 5, 2033.
  • Issuer: Bicara Therapeutics Inc. (NASDAQ:BCAX), with the reporting person serving as both a Director and President and COO.

Cohlhepp Option Exercise and Share Sale at Bicara Therapeutics

According to the filing, Ryan Cohlhepp, who serves as both a Director and President and Chief Operating Officer of Bicara Therapeutics Inc. (NASDAQ:BCAX), executed two transactions on August 10, 2026. First, Cohlhepp exercised a stock option to acquire 18,750 shares of common stock at an exercise price of $3.7898 per share, using transaction code "M." Immediately following, Cohlhepp disposed of 18,750 shares of common stock, coded "S," at a weighted average sale price of $27.9751 per share.

The filing notes that the shares were sold in multiple transactions at prices ranging from $27.56 to $28.41, inclusive. The reporting person has undertaken to provide full information regarding the number of shares sold at each separate price upon request by the issuer, any security holder, or the SEC staff. Both transactions were made pursuant to a Rule 10b5-1 trading plan that Cohlhepp adopted on March 31, 2026, as indicated by the check box and the explanation of responses in the filing.

Prior to the option exercise, Cohlhepp held a stock option covering 18,750 underlying shares of common stock. Following the exercise and sale, the filing reports that 51,752 stock options remain, with an exercise price of $3.7898 and an expiration date of April 5, 2033. The filing states that the shares underlying the option vest in sixteen equal quarterly installments following April 5, 2023, subject to the reporting person's continued service on each vesting date. Direct beneficial ownership of common stock stood at 181,641 shares after the reported transactions.

What Was Disclosed

The Form 4 disclosed an option exercise and same-day share sale by Bicara Therapeutics' President and COO on August 10, 2026, both conducted under a pre-established Rule 10b5-1 plan, with 181,641 shares and 51,752 options remaining after the transactions.