Collins Helen Louise 4

What Happened

• Helen Louise Collins, Chief Medical Officer of Enliven Therapeutics (ELVN), reported multiple transactions on 2026-04-17. She exercised options to acquire 5,000 shares at $2.48 per share (cost $12,400). She sold a total of 5,000 shares in three open-market trades for aggregate proceeds of approximately $238,351 (weighted average sale price ≈ $47.67/share). The filing also reports conversion/disposition of 5,000 derivative securities at $0 (see footnotes on RSUs).

Key Details

• Transaction date: April 17, 2026; Form 4 filed April 21, 2026 (four days after the trades; Form 4s are normally due within two business days).
• Option exercise: 5,000 shares acquired @ $2.48 (total cost $12,400). Footnote F7: all option shares were fully vested and exercisable.
• Open-market sales: 140 shares @ $45.81 (F3: multi-trade range $45.525–$46.38), 2,419 shares @ $47.39 (F4: range $46.8218–$47.8166), 2,441 shares @ $48.06 (F5: range $47.8303–$48.4936); total proceeds ≈ $238,351.
• Additional derivative entry: 5,000 shares reported disposed @ $0; footnotes (F2, F6) indicate certain securities are RSUs (restricted stock units), each convertible into one share.
• Trading plan: Sales and option exercise were effected under a Rule 10b5-1 trading plan adopted October 19, 2025 (F1).
• Shares owned after the transactions: not disclosed in the provided filing.

Context

• The filing shows an option exercise (M) followed by open-market sales (S). Exercising at $2.48 and selling at ~ $47.67/share generated a large difference between cost and sale proceeds; the sales were executed under a pre-established 10b5-1 plan, which is commonly used to schedule insider sales. The conversion/disposition at $0 appears tied to RSUs per the footnotes; RSU conversions and option exercises can be used to satisfy tax or withholding obligations or to generate shares for sale. This report is factual and does not attempt to infer the insider’s motivations.