Mazumdar Claire 4
4 · Bicara Therapeutics Inc. · Filed Mar 20, 2026
Research Summary
AI-generated summary of this filing
Bicara (BCAX) CEO Claire Mazumdar Exercises Options, Sells 15,000 Shares
What Happened
Claire Mazumdar, CEO of Bicara Therapeutics (BCAX), exercised a total of 15,000 option-derived shares (6,499 on 3/18, 6,905 on 3/19, and 1,596 on 3/20) at an exercise price of $3.79 per share (total exercise cost ≈ $56,848). She immediately sold those 15,000 shares in the open market for weighted-average prices reported of $18.84 (3/18), $18.78 (3/19) and $18.95 (3/20), generating gross proceeds of about $282,366 and an approximate pre-tax/net-of-exercise gain of ~$225,500. The filings also show corresponding reductions in the derivative (option) holdings (reported as dispositions at $0.00), indicating the options were converted to shares and sold.
Key Details
- Transaction dates and prices:
- 2026-03-18: Exercised 6,499 shares @ $3.79 (cost $24,630); sold 6,499 @ weighted avg $18.84 (proceeds $122,415). (Sales executed under a 10b5‑1 plan adopted 2/12/2025 per footnote F1.)
- 2026-03-19: Exercised 6,905 shares @ $3.79 (cost $26,169); sold 6,905 @ weighted avg $18.78 (proceeds $129,705).
- 2026-03-20: Exercised 1,596 shares @ $3.79 (cost $6,049); sold 1,596 @ weighted avg $18.95 (proceeds $30,246).
- Reported weighted-price ranges for the sales (per footnotes):
- 3/18 sales: $18.73–$19.19 (F2)
- 3/19 sales: $18.73–$18.92 (F3)
- 3/20 sales: $18.73–$19.26 (F4)
- Total exercised: 15,000 shares; total gross proceeds ≈ $282,366; total exercise cost ≈ $56,848; approximate pre-tax gain ≈ $225,518.
- Shares owned after transaction: not specified in the data provided in this summary (not disclosed in the items you provided).
- Vesting note: underlying option shares vest in 16 equal quarterly installments following Aug 8, 2023 (F5).
- 10b5‑1: At least some sales were made pursuant to a Rule 10b5‑1 plan (F1).
- Filing: Form 4 filed 2026-03-20 reporting transactions dated 3/18–3/20; filing date appears to cover the reported trades.
Context
These transactions were option exercises followed by immediate open‑market sales (a common cashless-exercise pattern): the options were converted to shares and those shares were sold, resulting in cash proceeds to the insider. Such routine exercises/sales can be for diversification or liquidity and do not, by themselves, indicate the insider’s view of the company’s fundamentals. All figures above are gross amounts before taxes and transaction fees.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-18$3.79/sh+6,499$24,630→ 345,891 total - Sale
Common Stock
[F1][F2]2026-03-18$18.84/sh−6,499$122,415→ 339,392 total - Exercise/Conversion
Common Stock
[F1]2026-03-19$3.79/sh+6,905$26,169→ 346,297 total - Sale
Common Stock
[F1][F3]2026-03-19$18.78/sh−6,905$129,705→ 339,392 total - Exercise/Conversion
Common Stock
[F1]2026-03-20$3.79/sh+1,596$6,049→ 340,988 total - Sale
Common Stock
[F1][F4]2026-03-20$18.95/sh−1,596$30,246→ 339,392 total - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F5]2026-03-18−6,499→ 184,608 totalExercise: $3.79Exp: 2033-08-08→ Common Stock (6,499 underlying) - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F5]2026-03-19−6,905→ 177,703 totalExercise: $3.79Exp: 2033-08-08→ Common Stock (6,905 underlying) - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F5]2026-03-20−1,596→ 176,107 totalExercise: $3.79Exp: 2033-08-08→ Common Stock (1,596 underlying)
Footnotes (5)
- [F1]This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on February 12, 2025.
- [F2]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $18.73 to $19.19, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
- [F3]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $18.73 to $18.92, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
- [F4]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $18.73 to $19.26, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price at which the transactions were effected.
- [F5]The shares underlying this option vest in sixteen equal quarterly installments following August 8, 2023, subject to the Reporting Person's continued service on each such vesting date.