Hyep Ivan 4

What Happened
Hyep Ivan, Chief Financial Officer of Bicara Therapeutics (BCAX), exercised 9,200 stock options and immediately sold 9,200 underlying shares on March 23, 2026. The options were exercised at $3.79 per share (total cost $34,866) and the shares were sold at a weighted-average price of $18.52 per share, generating proceeds of about $170,348. The filing shows the derivative/option position related to those shares was also disposed of (transaction code M for exercise; S for sale).

Key Details

• Transaction date: March 23, 2026; Form 4 filed March 24, 2026. No late filing flag indicated in the filing.
• Exercise: 9,200 shares acquired via option exercise at $3.79/share (total $34,866).
• Sale: 9,200 shares sold in open-market transactions at a weighted-average price of $18.52/share (total ≈ $170,348). Reported sale prices ranged from $18.15 to $18.84; the filer will provide a per-price breakdown on request.
• Footnotes: Transaction executed pursuant to a Rule 10b5-1 trading plan adopted February 13, 2025. The underlying options vest in 16 equal quarterly installments beginning April 5, 2023 (per footnote).
• Shares owned after the transaction: not disclosed in this filing.

Context
This was an option exercise followed by an immediate sale of the resulting shares (commonly a cashless exercise/sale). Transaction codes: M = option exercise/conversion, S = sale. The presence of a 10b5-1 plan means the sales were made under a pre-established trading arrangement. As always, these filings are factual disclosures of trades and do not by themselves indicate the insider’s private view of the company.