Jay David Caplan - 15 Dec 2025 Form 4 Insider Report for FRACTYL HEALTH, INC. (GUTS)

Role: President, Chief Product Off.
Signature: /s/ Harith Rajagopalan, Attorney-in-fact
Issuer symbol: GUTS
Transactions as of: 15 Dec 2025
Net transactions value: $0
Form type: 4
Filing time: 17 Dec 2025, 18:00:05 UTC
Previous filing: 03 Mar 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Caplan Jay David	President, Chief Product Off.	3 VAN DE GRAAFF DRIVE, SUITE 200, BURLINGTON	/s/ Harith Rajagopalan, Attorney-in-fact	17 Dec 2025	0001419217

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	GUTS	Stock Option (right to buy)	Award	$0	+845,226		$0.000000	845,226	15 Dec 2025	Common Stock	845,226	$2.24	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The stock option vests and becomes exercisable in equal installments on each of the first three anniversaries of the grant date, subject to the Reporting Persons's continuing in employment through each such vesting date.