Mazumdar Claire 4

What Happened
Claire Mazumdar, CEO of Bicara Therapeutics (BCAX), exercised 36,766 option-derived shares and sold the same 36,766 shares on March 9, 2026. The exercise cost was $3.79 per share (total $139,336). The shares were sold in the open market at a weighted average price of $19.17 per share for total proceeds of $704,657 — netting roughly $565,321 before fees and taxes. The filing shows the derivative (the option) was converted/disposed as part of the transaction.

Key Details

• Transaction date: 2026-03-09; Form 4 filed 2026-03-11.
• Exercise (code M): 36,766 shares at $3.79 (acquired) — cost $139,336.
• Sale (code S): 36,766 shares at weighted avg $19.17 — proceeds $704,657. Sales executed at prices ranging $18.73–$19.64 (per footnote).
• Net proceeds (sale minus exercise cost): ≈ $565,321 (before fees/taxes).
• Shares owned after transaction: not specified in this Form 4 filing.
• Footnotes: transaction executed pursuant to a Rule 10b5-1 trading plan adopted Feb 12, 2025 (F1); weighted-average sale price with price range and offer to provide trade-by-trade detail (F2); the option’s underlying shares vest quarterly over 16 quarters starting Aug 8, 2023 (F3).

Context
This was an exercise of vested options followed by an immediate sale of the resulting shares — effectively a cashless exercise where the insider monetized vested equity. The sale was executed under a pre-existing 10b5-1 plan, which commonly provides a pre-authorized schedule for trading and is intended to avoid trading based on non-public information. The filing is factual and routine; it does not by itself indicate the insider’s future view of the company.