Collins Helen Louise 4

What Happened
Helen Louise Collins, Chief Medical Officer of Enliven Therapeutics (ELVN), exercised stock-related derivatives and sold shares on March 25, 2026. The filing shows:

• Exercise of 40,000 option shares at $2.48 per share (cost $99,200).
• Open-market sale of 40,000 shares at a weighted average price of $35.10 per share, netting approximately $1,404,024.
• A separate derivative conversion/disposition of 40,000 units reported at $0 (related to RSUs as noted in footnotes).
  The exercise and sale occurred the same day, effectively resulting in shares being sold after exercise.

Key Details

• Transaction date: 2026-03-25 (Form 4 filed 2026-03-27 — timely).
• Sale price: weighted avg $35.10; executed in multiple trades between $35.00 and $35.25.
• Exercise price: $2.48 per share for 40,000 option shares (total cost $99,200).
• Proceeds from sale: ~$1,404,024.
• Shares owned after transaction: not disclosed in this Form 4.
• Footnotes: transaction executed pursuant to a Rule 10b5-1 trading plan adopted Oct 19, 2025 (F1); some securities are restricted stock units (RSUs) that convert to common stock (F2, F4); all option shares were fully vested as of the date (F5); sale price range and per-trade details available on request (F3).
• Transaction codes: M = option exercise/conversion; S = sale.

Context

• Because the options were exercised and shares were sold the same day under a 10b5-1 plan, this is typically a routine, pre-planned liquidity transaction rather than an unsolicited market-timing move.
• For retail investors: purchases by insiders generally carry stronger interpretive weight than pre-planned sales. This filing documents a sale financed by exercising vested options and RSU conversion, not an open-market buy.