William Richard White - 09 Dec 2025 Form 4 Insider Report for Akero Therapeutics, Inc. (AKRO)

Reporting relationship: Chief Financial Officer
Issuer ticker: AKRO
Reported as of: 09 Dec 2025
Net transaction value: $0
SEC form: 4
Accepted by SEC: 09 Dec 2025, 10:11:12 UTC
Prior SEC filing: 12 Sep 2025
Next SEC filing: 04 Mar 2026
Source filing: View source filing
Reporting owner signature: /s/ Jonathan Young, Attorney-in-Fact

Key filing fact

William Richard White filed Form 4 for Akero Therapeutics, Inc. (AKRO) on 09 Dec 2025.

Key facts

This page summarizes William Richard White's Form 4 filing for Akero Therapeutics, Inc. (AKRO).
18 reported transactions and 16 derivative rows are listed below.
Accepted by SEC: 09 Dec 2025, 10:11.

Change

Previous filing in this sequence was filed on 12 Sep 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001778739 Primary reporting owner

White William Richard

Relationship: Chief Financial Officer
Address: C/O AKERO THERAPEUTICS, INC., 601 GATEWAY BOULEVARD, SUITE 350, SOUTH SAN FRANCISCO
Signature: /s/ Jonathan Young, Attorney-in-Fact
Signature date: 09 Dec 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

AKRO transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -10,179
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Footnotes: F1

AKRO transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -47,573
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Footnotes: F2, F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -3,421
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 3,421
Exercise price: $29.23
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -5,032
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 5,032
Exercise price: $19.87
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -2,328
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 2,328
Exercise price: $42.95
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -4,739
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 4,739
Exercise price: $21.10
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -3,527
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 3,527
Exercise price: $28.35
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -18,964
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 18,964
Exercise price: $21.09
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -70,279
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 70,279
Exercise price: $29.23
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -116,833
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 116,833
Exercise price: $19.87
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -83,400
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 83,400
Exercise price: $14.08
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -84,051
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 84,051
Exercise price: $42.95
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -82,482
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 82,482
Exercise price: $21.10
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -29,074
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 29,074
Exercise price: $21.10
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -29,074
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 29,074
Exercise price: $21.10
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -29,073
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 29,073
Exercise price: $21.10
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -74,053
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 74,053
Exercise price: $28.35
Footnotes: F4

AKRO transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -24,745
Change %: -100%
Price
Shares after: 0
Date: 09 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 24,745
Exercise price: $21.09
Footnotes: F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

William Richard White is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 4 footnotes

Footnote F1

This Form 4 reports securities disposed of pursuant to the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of October 9, 2025, among the Issuer, Novo Nordisk A/S, a Danish aktieselskab ("Novo"), and NN Invest Sub, Inc ("Merger Sub"), pursuant to which Merger Sub merged with and into the Issuer (the "Merger"), effective as of December 9, 2025 (such date and time, the "Effective Time"), with the Issuer surviving the Merger as a wholly owned subsidiary of Novo. At the Effective Time, each share of common stock of the Issuer ("Company Common Stock") reported in this Form 4 was cancelled and converted into the right to receive (i) cash in an amount equal to $54.00 (the "Closing Consideration") and (ii) one contractual contingent value right (a "CVR") representing the right to receive $6.00 in cash, if a specified milestone is achieved, pursuant to the CVR Agreement (as defined in the Merger Agreement) ((i) and (ii), together, the "Merger Consideration").

Footnote F2

Represents restricted stock units ("Company RSUs") granted to the Reporting Person. Each Company RSU represented a contingent right to receive one share of Company Common Stock upon vesting of the Company RSU.

Footnote F3

Pursuant to the Merger Agreement, at the Effective Time, each Company RSU reported in this Form 4 was deemed fully vested and cancelled and was converted into the right of the Reporting Person to receive the Merger Consideration in respect of each such Company RSU.

Footnote F4

Pursuant to the Merger Agreement, at the Effective Time, each compensatory option to purchase shares of Company Common Stock (each, a "Company Option") reported in this Form 4, whether or not vested, was deemed fully vested and was cancelled and converted into the right to receive a cash payment equal to the product of the excess of the Closing Consideration over the per share exercise price of such Company Option, multiplied by the total number of shares of Company Common Stock subject to such Company Option immediately prior to the Effective Time, plus one CVR for each share of Company Common Stock subject to such Company Option immediately prior to the Effective Time.