Collins Helen Louise 4

What Happened
Helen Collins, Chief Medical Officer of Enliven Therapeutics (ELVN), exercised stock options and converted restricted stock units (RSUs), then sold the resulting shares in open-market trades. On March 9, 2026 she exercised 29,871 option shares at $2.48 (cost $74,080) and sold those shares at a weighted average price of $30.02 for $896,811. On March 10, 2026 she exercised 10,129 option shares at $2.48 (cost $25,120) and sold those shares at a weighted average price of $30.19 for $305,827. Total gross sale proceeds were $1,202,638; aggregate exercise cost was $99,200 (net proceeds before taxes/fees ≈ $1,103,438). The filing also reports conversion/settlement of RSUs (40,000 shares) noted at $0 consideration.

Key Details

• Transaction dates: March 9, 2026 and March 10, 2026.
• Sales: 29,871 shares @ weighted avg $30.02 (Mar 9) and 10,129 shares @ weighted avg $30.19 (Mar 10). Price ranges across trades reported between $30.00–$30.56.
• Exercises: 40,000 option shares exercised at $2.48 per share (total exercise cost $99,200). Footnote states all option shares were fully vested as of the date.
• RSUs: Certain reported securities are RSUs (each RSU = one share) and were converted/settled (reported at $0 consideration).
• Plan: Sales were effected under a Rule 10b5-1 trading plan adopted October 19, 2025.
• Filing: Form 4 was filed on March 11, 2026 for transactions on March 9–10 (timely filing).
• Shares owned after transaction: Not disclosed in the provided Form 4.

Context

• Because the options were exercised and the shares were sold immediately (same day or next day), this resembles a cashless exercise and sale—the insider converted/options and did not retain those shares.
• Sales executed under a 10b5-1 plan indicate the trades were prearranged according to a plan adopted October 19, 2025; this is commonly used to avoid questions about trading on nonpublic information.