Patricia L. Allen - 12 Feb 2026 Form 4 Insider Report for Zenas BioPharma, Inc. (ZBIO)

Role: Director
Signature: By: /s/ Chase Jayasekera, Attorney-in-Fact
Issuer symbol: ZBIO
Transactions as of: 12 Feb 2026
Net transactions value: +$499,746
Form type: 4
Filing time: 13 Feb 2026, 17:06:22 UTC
Previous filing: 12 Jun 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Allen Patricia L	Director	C/O ZENAS BIOPHARMA, INC., 852 WINTER STREET, SUITE 250, WALTHAM	By: /s/ Chase Jayasekera, Attorney-in-Fact	13 Feb 2026	0001348587

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ZBIO	Common Stock	Purchase	$118,850	+5,000		$23.77	5,000	12 Feb 2026	Direct	F1
transaction	ZBIO	Common Stock	Purchase	$138,738	+5,700	+114%	$24.34	10,700	12 Feb 2026	Direct	F2
transaction	ZBIO	Common Stock	Purchase	$132,500	+5,000	+47%	$26.50	15,700	12 Feb 2026	Direct
transaction	ZBIO	Common Stock	Purchase	$109,658	+4,160	+26%	$26.36	19,860	13 Feb 2026	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported is a weighted average price. These shares were purchased in multiple transactions ranging from $23.38 to $24.07, inclusive. The Reporting Person undertakes to provide 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 purchased at each separate price within the range.
F2	The price reported is a weighted average price. These shares were purchased in multiple transactions ranging from $24.12 to $24.7, inclusive. The Reporting Person undertakes to provide 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 purchased at each separate price within the range.

Content

The price reported is a weighted average price. These shares were purchased in multiple transactions ranging from $23.38 to $24.07, inclusive. The Reporting Person undertakes to provide 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 purchased at each separate price within the range.

The price reported is a weighted average price. These shares were purchased in multiple transactions ranging from $24.12 to $24.7, inclusive. The Reporting Person undertakes to provide 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 purchased at each separate price within the range.