Perry Jennifer Scott 4

What Happened
Jennifer Scott Perry, Chief Operating Officer of Bicycle Therapeutics plc (BCYC), sold a total of 1,408 shares in multiple open-market transactions between April 2 and April 6, 2026, generating roughly $6,962 in proceeds. Breakdown: 1,038 shares on 2026-04-02 at a weighted average price of $4.91 ($5,097), 37 shares on 2026-04-06 at $5.05 ($187), and 333 shares on 2026-04-06 at a weighted average of $5.04 (~$1,678). These were sales (not purchases), and at least one portion was a routine "sell to cover" for tax withholding.

Key Details

• Transaction dates and prices:
  • 2026-04-02: 1,038 shares @ weighted avg $4.91 (~$5,097). Footnotes indicate this sale was to satisfy statutory tax withholding for RSU vesting (sell-to-cover) and was not a discretionary sale (F1, F2; price range reported $4.88–$4.98).
  • 2026-04-06: 37 shares @ $5.05 (~$187).
  • 2026-04-06: 333 shares @ weighted avg $5.04 (~$1,678). Filing notes this transaction was made under a pre-established Rule 10b5-1 trading plan (adopted March 27, 2025) and the weighted-price range was $5.035–$5.04 (F3, F4).
• Total proceeds across all sales: ≈ $6,962.
• Shares owned after the transactions: Not specified in the provided excerpt of the filing.
• Filing timeliness: Report filed 2026-04-06 for transactions on 2026-04-02 and 2026-04-06; filing appears timely (within required Form 4 reporting window).
• Footnote meanings: F1 = sell-to-cover for RSU tax withholding; F2/F4 = weighted-average price ranges for multi-trade sales; F3 = trade(s) executed under a Rule 10b5-1 plan.

Context

• Sell-to-cover transactions (like the 1,038-share sale) are routine when RSUs vest and typically required by award agreements to satisfy tax withholding; they do not necessarily signal the insider's view on the company's prospects.
• Sales executed under a Rule 10b5-1 plan are pre-arranged and are generally considered automated trades rather than discretionary timing by the insider.
• Overall dollar value is small (~$7k), so these transactions are routine in size and not a large insider divestment.