Hannay Michael Charles Ferguson 4

What Happened
Michael Charles Ferguson, Bicycle Therapeutics plc's Chief Product & Supply Chain Officer, disposed of a total of 1,772 shares in two open‑market transactions to cover tax withholding tied to RSU vesting. On 2026-04-02 he sold 1,521 shares at $4.91 each for proceeds of $7,468 (reported as a weighted average across executions at $4.88–$4.98). On 2026-04-06 he sold 251 shares at $5.05 each for proceeds of $1,268. Combined proceeds were approximately $8,736. These sales were mandated by the award agreement as "sell‑to‑cover" for statutory tax withholding (not discretionary).

Key Details

• Transaction dates/prices: 2026-04-02 — 1,521 shares @ $4.91 (weighted avg; executions ranged $4.88–$4.98); 2026-04-06 — 251 shares @ $5.05.
• Total shares sold: 1,772; total proceeds ≈ $8,736.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 — sale was required to satisfy statutory tax withholding on RSU settlement (sell‑to‑cover); F2 — first sale price is a weighted average over multiple executions ($4.88–$4.98).
• Filing: Form 4 filed 2026-04-06 covering transactions on 2026-04-02 and 2026-04-06; appears to be filed in the normal timeframe.

Context
These were sell‑to‑cover transactions tied to RSU tax obligations and are typically routine administrative sales rather than discretionary insider selling. For retail investors, purchases or discretionary sales can carry more signal about insider sentiment; mandated tax‑withholding sales generally do not.