Enliven Therapeutics (ELVN) CMO Helen Collins Sells Shares, Exercises Options

What Happened
Helen Collins, Chief Medical Officer of Enliven Therapeutics (ELVN), exercised 5,000 options on 2026-09-17 at a $2.48 strike (cost = $12,400) and sold a total of 5,000 shares in open-market transactions the same day for combined proceeds of approximately $251,754. The sales were executed in multiple trades at weighted-average prices reported as: 2,916 shares @ $50.03 ($145,891), 1,844 shares @ $50.71 ($93,507), and 240 shares @ $51.48 ($12,356). The Form 4 also reports a 5,000-share derivative disposition at $0.00 (see footnotes).

Key Details

• Transaction date: 2026-09-17; Form 4 filed 2026-09-21 (timely filed within required window).
• Option exercise: 5,000 shares exercised at $2.48/share (total $12,400). Footnote F7: option fully vested.
• Open-market sales: 5,000 shares sold for total proceeds ≈ $251,754 (weighted avg prices reported above). Price ranges by trade block: F3 $49.305–$50.30; F4 $50.3099–$51.26; F5 $51.365–$51.675.
• Footnotes: F1 — sales and exercise were effected under a Rule 10b5-1 trading plan adopted Oct 19, 2025; F2/F6 — some securities referenced are RSUs (contingent rights to shares); F7 — options were fully vested.
• Filing does not state the insider’s beneficial ownership after these transactions.

Context

• The filings show an option exercise and same-day open-market sales of an equal number of shares (5,000 each). Such patterns commonly reflect exercising equity awards and selling shares (for liquidity, to cover exercise cost/taxes, or pursuant to a prearranged plan), but the Form 4 itself does not state the insider’s motivation.
• Because the trades were executed under a 10b5-1 plan, they were prearranged and typically indicate scheduled sales rather than ad-hoc market timing decisions.