Ryan Cohlhepp, President, COO and Interim CEO of Bicara Therapeutics Inc., filed a Form 4 on September 10, 2026, reporting stock option exercises and common stock sales that took place on September 8, 2026, pursuant to a Rule 10b5-1 trading plan.

Key Highlights

  • Option exercise: Cohlhepp exercised a stock option for 17,500 shares of common stock at an exercise price of $3.7898 per share on September 8, 2026.
  • First sale tranche: 14,058 shares were sold at a weighted average price of $22.7666, with individual transaction prices ranging from $22.26 to $23.25.
  • Second sale tranche: 3,442 shares were sold at a weighted average price of $23.4349, with individual transaction prices ranging from $23.26 to $23.58.
  • Remaining ownership: Following all reported transactions, Cohlhepp directly held 181,641 shares of common stock.
  • Derivative securities: Cohlhepp directly holds 34,252 stock options (right to buy) with an exercise price of $3.7898 and an expiration date of April 5, 2033, following the reported exercise.
  • 10b5-1 plan: All transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on March 31, 2026.

Cohlhepp's September 2026 Option Exercise and Share Sales at Bicara Therapeutics

According to the filing, Ryan Cohlhepp, who serves as President, COO and Interim CEO and is also identified as a Director of Bicara Therapeutics Inc. (NASDAQ:BCAX), reported three transactions on September 8, 2026. The first was an exercise (transaction code "M") of a stock option covering 17,500 shares of common stock at an exercise price of $3.7898 per share, bringing his directly held common stock position to 199,141 shares immediately after that transaction.

Following the option exercise, Cohlhepp disposed of shares in two separate sale tranches (transaction code "S"). The first tranche covered 14,058 shares sold at a weighted average price of $22.7666, executed in multiple transactions at prices ranging from $22.26 to $23.25, inclusive, according to the filing. The second tranche covered 3,442 shares sold at a weighted average price of $23.4349, in multiple transactions at prices ranging from $23.26 to $23.58, inclusive. After both sales, his directly held common stock position stood at 181,641 shares.

The filing notes that the underlying stock option vests in sixteen equal quarterly installments following April 5, 2023, subject to continued service on each vesting date, and carries an expiration date of April 5, 2033. The reporting person undertakes to provide full per-price transaction detail upon request to the issuer, any security holder, or SEC staff, as stated in the filing's explanatory footnotes. All transactions were disclosed as executed under a Rule 10b5-1 trading plan adopted on March 31, 2026.

What Was Disclosed

The Form 4 filed September 10, 2026 discloses that Ryan Cohlhepp exercised 17,500 stock options and sold a combined 17,500 shares of Bicara Therapeutics common stock on September 8, 2026, leaving him with 181,641 directly held shares and 34,252 remaining stock options.