Michael Skynner - 02 Jan 2026 Form 4 Insider Report for BICYCLE THERAPEUTICS PLC (BCYC)

Role: CHIEF TECHNOLOGY OFFICER
Signature: /s/ Travis Thompson, Attorney-in-Fact
Issuer symbol: BCYC
Transactions as of: 02 Jan 2026
Net transactions value: -$41,804
Form type: 4
Filing time: 06 Jan 2026, 20:00:38 UTC
Previous filing: 06 Oct 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Skynner Michael	CHIEF TECHNOLOGY OFFICER	C/O BICYCLE THERAPEUTICS PLC, BLOCKS A & B, PORTWAY BUILDING, CAMBRIDGE, UNITED KINGDOM	/s/ Travis Thompson, Attorney-in-Fact	06 Jan 2026	0001776582

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BCYC	Ordinary Shares	Award	$0	+50,000	+42%	$0.000000	168,277	02 Jan 2026	Direct	F1, F2
transaction	BCYC	Ordinary Shares	Sale	$20,706	-3,045	-1.8%	$6.80	165,232	02 Jan 2026	Direct	F3, F4
transaction	BCYC	Ordinary Shares	Sale	$21,098	-3,266	-2%	$6.46	161,966	05 Jan 2026	Direct	F3, F5

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	BCYC	Employee Stock Option (right to buy)	Award	$0	+100,000		$0.000000	100,000	02 Jan 2026	Ordinary Shares	100,000	$7.08	Direct	F6

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

Explanation of Responses:

Id	Content
F1	Represents a restricted share unit ("RSU") award. One-fourth (1/4) of the total number of RSUs shall vest on January 2, 2027 and the remaining RSUs shall vest in 12 equal quarterly installments thereafter.
F2	Each RSU represents a contingent right to receive one ordinary share.
F3	Represents the number of shares required to be sold to cover the statutory tax withholding obligations in connection with the vesting and settlement of the RSUs. This sale is mandated by the Reporting Person's award agreement that requires the satisfaction of minimum statutory tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary sale by the Reporting Person.
F4	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.62 to $7.11 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 within the ranges set forth in footnotes (4) and (5).
F5	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.30 to $6.70 inclusive.
F6	This option shall vest with respect to one-fourth (1/4) of the total number of shares underlying the option on January 2, 2027 and the remaining shares in 36 equal monthly installments thereafter.