Form 4: Enliven Director Garland Granted 59,372 Stock Options

Enliven Therapeutics Director J. Scott Garland was granted 59,372 stock options at an exercise price of $15.47, vesting monthly over three years.

Summary

• J. Scott Garland, a Director of Enliven Therapeutics, Inc. (ELVN), acquired 59,372 derivative securities in the form of stock options.
• The transaction date for this acquisition was January 7, 2026.
• The exercise price for these stock options is $15.47 per share.
• The options become exercisable starting January 7, 2026, and have an expiration date of January 7, 2036.
• Each option represents the right to buy one share of Enliven Therapeutics, Inc. Common Stock.
• The options will vest at a rate of 1/36th of the total shares monthly, beginning February 7, 2026, contingent on Mr. Garland's continued service as an outside director.

Sentiment

Score: 6

Explanation: The grant of stock options to a director is a standard practice that aligns management interests with shareholders, indicating continued commitment, which is a slight positive.

Positives

• The grant of stock options aligns the director's financial interests with those of the shareholders, incentivizing long-term company performance.
• The 10-year expiration date provides a significant window for the director to benefit from potential stock price appreciation.

Risks

• The vesting of the stock options is subject to J. Scott Garland continuing as an outside director through each vesting date, meaning unvested options could be forfeited if his directorship ceases.

Future Outlook

The vesting schedule indicates a commitment from the director to remain with the company for at least three years to fully realize the benefits of the option grant, aligning with long-term strategic goals.

Industry Context

The grant of stock options to directors is a common practice in the biotechnology and pharmaceutical industries, including companies like Enliven Therapeutics, to attract and retain experienced leadership and align their interests with shareholder value creation.

Comparison to Industry Standards

• Stock options are a standard component of executive and director compensation packages across various industries, including biotech, to incentivize performance and retention.
• The 10-year term for the options is typical for such grants, providing a long-term incentive horizon.
• Monthly vesting over three years is a common vesting schedule, similar to those seen at comparable early-stage biotech companies, ensuring sustained commitment from the director.

Corporate Governance

Related Party Transactions

• Grant of 59,372 stock options to J. Scott Garland, a director of Enliven Therapeutics, Inc., at an exercise price of $15.47 per share, which constitutes a transaction between the company and a related party.

Stakeholder Impact

• Shareholders: The option grant aims to align the director's incentives with shareholder value creation, potentially leading to better long-term performance.
• Employees: No direct impact on general employees is indicated by this specific filing.

Next Steps

• Monthly vesting of 1/36th of the options will occur, starting February 7, 2026, subject to the director's continued service.

Key Dates

Keywords

Enliven Therapeutics, ELVN, Stock Options, Director Compensation, Insider Transaction, Form 4, Equity Grant, Vesting Schedule