Collins Helen Louise 4

What Happened

• Helen Louise Collins, Chief Medical Officer of Enliven Therapeutics (ELVN), exercised stock options and sold shares on March 17, 2026. She exercised 5,000 option shares at $2.48 per share (cost $12,400) and sold 5,000 common shares in the open market for a weighted-average price of $27.76 per share (proceeds ~$138,800). The Form 4 also reports a conversion/settlement of 5,000 RSU-type derivative units at $0 consideration (see footnotes).

Key Details

• Transaction date: March 17, 2026; Form 4 filed March 19, 2026 (appears timely).
• Exercise: 5,000 option shares exercised at $2.48 each = $12,400 total.
• Sale: 5,000 shares sold in multiple trades; weighted-average sale price $27.76; total proceeds ≈ $138,800. Reported trade prices ranged $27.40–$28.2278 (per footnote).
• RSU conversion: 5,000 securities reported as RSUs/derivatives converted at $0 (footnotes F2/F4 explain these are contingent rights to receive shares).
• Vesting: All shares subject to the option were fully vested and exercisable as of the transaction (footnote F5).
• Trading plan: Transactions were executed pursuant to a Rule 10b5-1 trading plan adopted October 19, 2025 (footnote F1).
• Shares owned after the transaction: Not specified on the Form 4.

Context

• This was an option exercise followed by an open-market sale of the same quantity of shares—commonly a cashless exercise pattern where an insider realizes cash from vested option shares. The presence of a 10b5-1 plan indicates the sales were pre-arranged according to a trading plan adopted in October 2025. The RSU conversion noted in the filing represents settlement of contingent awards, which is administrative and does not by itself indicate new purchasing intent.