UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

~~January~~March 2917, 2026

Date of Report (Date of earliest event reported)

Bicycle Therapeutics plc

(Exact name of registrant as specified in its charter)

England and Wales

001-38916

Not applicable

(State or other jurisdiction
of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

Blocks A & B, Portway Building, Granta Park Great Abington, Cambridge United Kingdom	CB21 6GS
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: +44 1223 261503

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol (s)	Name of each exchange on which registered
Ordinary shares, nominal value £0.01 per share	n/a	The Nasdaq Stock Market LLC*
American Depositary Shares, each representing one ordinary share, nominal value £0.01 per share	BCYC	The Nasdaq Stock Market LLC

* Not for trading, but only in connection with the listing of the American Depositary Shares on The Nasdaq Stock Market LLC.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 52.02. ~~Departure~~Results of ~~Directors~~Operations orand ~~Certain~~Financial ~~Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.~~Condition

On ~~January 29~~March 17, 2026, ~~the Board of Directors (the “Board”) of~~ Bicycle Therapeutics plc (the “Company”) ~~appointed Travis~~ ~~Thompson~~issued asa ~~Chief~~press ~~Financial~~release ~~Officer,~~announcing ~~effective~~financial asresults offor ~~January~~the ~~29,~~fiscal ~~2026~~quarter (and the ~~“Transition~~year ~~Date”).~~ended ~~Mr.~~December ~~Thompson will succeed Alethia Young~~31, ~~who~~2025 ~~has transitioned from her role as Chief Financial Officer~~ and ~~all~~ other ~~roles she held with the Company~~business ~~and Bicycle Therapeutics Inc~~highlights. ~~(“BTI”),~~A ~~effective~~copy as of the ~~Transition~~press ~~Date.~~release Asis ofbeing ~~the~~furnished ~~Transition~~as ~~Date, Ms~~Exhibit 99.1 ~~Young will~~to nothis ~~longer~~Current beReport anon ~~officer,~~Form 8-K ~~executive, director or agent of either the Company or BTI. Following the Transition Date, Ms. Young will remain with the Company in an interim capacity for three months,~~ and ~~thereafter~~is ~~will continue as an advisor to the Company pursuant to~~incorporated ~~the~~herein ~~terms~~by ~~of her Separation Agreement (as defined below) and Consulting Agreement (as defined below), each as described below~~reference.

~~Appointment~~The information contained in Item 2.02 in this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of ~~Travis~~Section 18 ~~Thompson~~of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as ~~Chief~~amended, ~~Financial~~or ~~Officer~~the Exchange Act, except as expressly set forth by specific reference in such a filing.

~~Prior to~~Item ~~his appointment as Chief Financial Officer, Mr~~5. ~~Thompson, age 46, served as the Company’s Senior Vice President and Chief Accounting Officer, roles he held since June 2023~~02. ~~Mr.~~Departure ~~Thompson~~of ~~joined~~Directors ~~the~~or ~~Company~~Certain inOfficers; ~~2018~~Election ~~prior~~of toDirectors; ~~its~~Appointment initial public offering and has been responsible for scaling the accounting and finance team, processes and systems. Prior to joining the Company, Mr. Thompson spent over 15 years in Ernst & Young’s assurance practice, working extensively with biotech, pharmaceutical and medical devices companies in all stages of ~~development.~~Certain ~~Mr.~~Officers; ~~Thompson~~Compensatory ~~graduated~~Arrangement ~~from The College~~ of ~~the~~Certain ~~Holy Cross with a B.S. in Economics and Accounting.~~Officers

~~Pursuant to~~On ~~Mr. Thompson’s employment agreement with BTI~~March 11, ~~dated January 29~~2026, ~~2026 (~~the ~~“Employment~~Company’s ~~Agreement”), Mr.~~Board ~~Thompson will receive a base salary~~ of ~~$500,000.~~Directors ~~Mr. Thompson will also be eligible to receive a target annual cash performance bonus~~appointed ofJennifer ~~50%~~Perry, ~~of his base salary~~Pharm. MrD. ~~Thompson~~as ~~will~~Chief ~~receive~~Operating anOfficer, ~~option~~effective toas ~~purchase 58,000~~ of ~~the Company’s ordinary shares~~March 17, ~~pursuant~~2026 ~~to the terms of the Company’s Amended and Restated 2020 Equity Incentive Plan~~ (the “~~Plan~~Transition Date”)~~, subject to a standard vesting schedule and Mr~~. ~~Thompson’s continued employment through each such vesting date~~Dr. ~~Mr. Thompson~~ Perry will ~~continue~~succeed ~~to be~~Alistair ~~eligible to participate in BTI’s health~~Milnes, ~~welfare,~~who ~~and~~will ~~retirement~~serve ~~plans~~as on the ~~same basis as all of BTI~~Company’s ~~other~~Chief ~~employees. During~~Corporate ~~his~~Development ~~employment~~Officer, ~~Mr.~~effective ~~Thompson~~as ~~will~~of bethe ~~subject to BTI’s standard Proprietary Information, Inventions, Non-Competition and Non-Solicitation~~Transition ~~Agreement~~Date.

~~Mr.~~Prior ~~Thompson will be eligible~~ to ~~receive~~her ~~severance~~appointment ~~benefits~~as ~~upon~~Chief ~~certain~~Operating ~~employment~~Officer, ~~termination~~Dr. Perry, age ~~scenarios~~52, ifserved heas ~~signs~~the aCompany’s ~~separation~~Chief ~~agreement~~Strategy ~~containing a~~Officer ~~general~~and ~~release~~Head of ~~claims~~Commercial, ina ~~favor~~role ofshe ~~the~~held ~~Company~~since ~~and its subsidiaries and other standard terms~~July 2024. ~~If Mr~~Dr. ~~Thompson’s employment~~Perry ispreviously ~~terminated~~served byas ~~BTI~~the ~~without~~Company’s ~~cause,~~Senior orVice byPresident, ~~Mr.~~Commercial, ~~Thompson~~from ~~for~~April 2023 ~~good~~to ~~reason~~July 2024, heand ~~will~~as ~~receive nine months of his base salary in effect at~~ the Company’s ~~time~~Vice ofPresident, ~~his~~Global ~~employment~~Scientific ~~termination~~Engagement and upMedical toAffairs ~~nine~~from ~~months~~August 2022 ofto ~~COBRA~~April 2023. ~~insurance continuation~~Dr. Perry Inhas ~~the~~over ~~event his employment is terminated by~~20 ~~BTI~~years ~~without~~of ~~cause,~~experience orin bythe ~~Mr.~~biotech ~~Thompson~~and ~~for~~pharmaceutical ~~good reason~~industries, ~~within~~with 1215 ~~months~~years ~~following~~in aoncology. ~~change~~Prior into ~~control~~joining of the Company, hefrom ~~will receive~~August 2020 18to ~~months~~August 2022, ofDr. Perry ~~his~~served ~~base~~as ~~salary~~Vice ~~in effect at the time of his employment termination~~President, upHematology toOncology 18Sales ~~months~~at ofTG ~~COBRA insurance continuation~~Therapeutics, Inc. aand ~~lump~~previously ~~sum~~served ~~equal~~as toVice ~~his~~President, ~~full~~US ~~annual~~Oncology ~~bonus~~Sales at ~~the~~GSK/Tesaro ~~target~~from ~~percentage~~July 2019 ~~for~~to ~~the~~August 2020. ~~year~~Dr. Perry inattended ~~which~~Loyola ~~his~~University Chicago ~~employment~~for isher ~~terminated~~undergraduate ~~(in~~education ~~addition~~before toearning ~~any~~her ~~unpaid bonus~~Pharm.D. ~~earned~~from in the ~~prior~~University ~~year but still unpaid), and full acceleration~~ of ~~vesting~~Illinois ~~for any unvested equity awards~~Chicago.

~~Mr.~~In ~~Thompson previously~~connection ~~entered~~with ~~into~~her ~~the~~appointment ~~Company~~as Chief Operating Officer, Dr. Perry’s will ~~standard~~receive ~~form~~a ofbase ~~indemnity~~salary ~~agreement~~of $550,000 ~~which~~and ~~requires~~will ~~the~~be ~~Company~~eligible to ~~indemnify~~receive ~~Mr.~~a ~~Thompson~~target annual cash performance bonus of 50% of her base salary. Dr. Perry will continue to ~~the~~be ~~fullest~~eligible ~~extent~~to ~~permitted~~participate byin the ~~law~~Company’s ofor ~~England~~its ~~and~~subsidiaries’ ~~Wales~~health, ~~for~~welfare, ~~certain~~and ~~liabilities~~retirement plans toon ~~which~~the hesame ~~may~~basis ~~become~~as ~~subject~~all asof athe ~~result~~other ~~of his~~employees. ~~affiliation~~During ~~with~~her employment, Dr. Perry will be subject to the Company’s standard Proprietary Information, Inventions and Non-Solicitation Agreement.

~~There~~Dr. Perry will be eligible to receive severance benefits upon ~~are~~certain noemployment ~~family~~termination ~~relationships~~scenarios ~~among~~if ~~Mr.~~she ~~Thompson~~signs ~~and~~a ~~any~~separation agreement containing a general release of claims in favor of the Company and its subsidiaries and other standard terms. If Dr. Perry’s ~~directors~~employment is terminated without cause, or ~~executive~~by ~~officers~~Dr. Perry for good reason, ~~nor~~she ~~are~~will ~~there~~receive ~~any~~nine ~~related~~months of her base salary in effect at the time of her employment termination and up to nine months ~~party~~of ~~transactions~~COBRA ~~between~~insurance Mrcontinuation. ~~Thompson~~In ~~and~~the event her employment is terminated without cause, or by Dr. Perry for good reason, within 12 months following a change in control of the Company, ~~that~~she ~~would~~will bereceive ~~required~~18 months of her base salary in effect at the time of her employment termination, up to be18 ~~reported~~months ~~under~~of ~~Item~~COBRA ~~404(~~insurance continuation, a lump sum equal to her full annual bonus at the target percentage for the year in which her employment is terminated (in addition to any unpaid bonus earned in the prior year but still unpaid), and full acceleration of ~~Regulation~~vesting ~~S-K~~for any unvested equity awards.

~~The~~Dr. Perry ~~foregoing~~also ~~description~~entered ofinto the ~~terms~~Company’s ofstandard ~~the Employment~~form ~~Agreement~~of isindemnity ~~not~~agreement, ~~complete~~which ~~and~~requires isthe ~~qualified~~Company into ~~its~~indemnify ~~entirety~~Dr. Perry ~~by reference~~ to the ~~full~~fullest ~~text~~extent ofpermitted by the ~~Employment~~law ~~Agreement~~of England and Wales, ~~which~~for ~~will~~certain beliabilities ~~filed with~~to ~~the~~which ~~Company’s~~she ~~Quarterly~~may ~~Report~~become onsubject ~~Form~~as ~~10-Q~~a ~~for~~result ~~the~~of ~~period~~her ~~ending~~affiliation ~~March~~with ~~31,~~the ~~2026~~Company.

MsThere are no family relationships among Dr. Perry and any of ~~Young~~the Company’s ~~Separation~~directors ~~Agreement~~or executive officers, nor are there any related party transactions between Dr. Perry and ~~Consulting~~the ~~Agreement~~Company that would be required to be reported under Item 404(a) of Regulation S-K.

InThe ~~connection with~~foregoing ~~her~~description ~~transition,~~of ~~Ms. Young entered into a separation agreement (~~the ~~“Separation~~employment ~~Agreement”)~~terms ~~with~~is ~~BTI~~not ~~pursuant~~complete ~~to which she will remain with the Company in an interim capacity through April 29, 2026 (the “Separation Date”). Pursuant to the Separation Agreement, between the Transition Date~~ and ~~the~~is ~~Separation~~qualified ~~Date (the “Transition Period”), Ms. Young will be paid her base salary as~~ in ~~effect~~part ~~immediately~~by ~~prior~~reference to the ~~Separation~~full ~~Agreement~~text ~~and~~of ~~shall remain eligible to participate in applicable Company benefit plans~~Dr. Perry’s Inemployment ~~addition~~agreement, ~~pursuant~~which ~~to the Separation Agreement, Ms. Young~~ will be ~~eligible~~filed towith ~~receive (i) severance payments in~~ the ~~form of her base salary for nine months following the Separation Date; (ii) a full 2025 annual cash bonus, which payment is equivalent of target achievement of Ms. Young~~Company’s Quarterly ~~annual~~Report ~~bonus~~on ~~for 2025; (iii) a pro~~Form 10-~~rated~~Q ~~2026 annual cash bonus~~ for ~~Ms. Young’s service during~~ the ~~Transition~~period ~~Period~~ending ~~equal~~March 31, ~~to one quarter (1/4) of her target annual bonus for~~ 2026~~; and (iv) up to nine months of COBRA insurance continuation~~. ~~The Separation Agreement contains restrictive covenants, including confidentiality, non-compete and non-disparagement covenants, and a release of claims.~~

~~In addition,~~Item ~~the Company and Ms~~9.01 ~~Young~~Financial ~~entered~~Statements into a consulting agreement (the “Consulting Agreement”) pursuant to which, following the Separation Date, Ms. Young will provide consulting services to the Company. The Consulting Agreement is effective April 29, 2026, has a two-year term and will automatically renew for a one-year additional term (such period, collectively, the “Consulting Period”) expiring on the third anniversary of the effective date of the agreement unless a notice of termination has been provided by either party. For the first two years of the Consulting Period, the Company may only terminate the Consulting Agreement for cause. During the Consulting Period, Ms. Young will provide strategic advice and consulting services to the Company, for which she will receive a fee of $2,000 for each day Ms. Young provides services to the Company (each, a “Service Day”), with a maximum of five such Service Days per calendar month. Ms. Young’s outstanding equity awards will continue to vest during the Consulting Period and to be governed by the terms of the applicable award agreements and the Plan. The Consulting Agreement also contains non-disclosure covenants.Exhibits

The foregoing descriptions of the terms of the Separation Agreement and Consulting Agreement are not complete and are qualified in its entirety by reference to the full text of the Separation Agreement and Consulting Agreement, which will each be filed with the Company’s Quarterly Report on Form 10-Q for the period ending March 31, 2026.(d) Exhibits

Exhibit No.		Description
99.1		Press Release issued March 17, 2026
104		Cover Page Interactive Data File (formatted in Inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: February 3, 2026	BICYCLE THERAPEUTICS PLC
Date: March 17, 2026	BICYCLE THERAPEUTICS PLC
	By:	/s/ Travis Thompson
	Name: Travis Thompson
	Title: Chief Financial Officer

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