Sr One Capital Management, Llc - Oct 9, 2025 Form 4 Insider Report for Zenas BioPharma, Inc. (ZBIO)

Role
10%+ Owner
Signature
/s/ Sasha Keough, attorney-in-fact for SR One Capital Management, LLC
Stock symbol
ZBIO
Transactions as of
Oct 9, 2025
Transactions value $
$2,399,985
Form type
4
Date filed
10/14/2025, 05:14 PM
Previous filing
Sep 16, 2024
SEC
View on sec.gov

Reporting Owners (2)

Name Relationship Address Signature Signature date CIK
SR ONE CAPITAL MANAGEMENT, LLC 10%+ Owner 985 OLD EAGLE SCHOOL ROAD, SUITE 511, WAYNE /s/ Sasha Keough, attorney-in-fact for SR One Capital Management, LLC 2025-10-14 0001853723
George Simeon 10%+ Owner 985 OLD EAGLE SCHOOL ROAD, SUITE 511, WAYNE /s/ Sasha Keough, attorney-in-fact for Simeon George 2025-10-14 0001595117

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ZBIO Common Stock Purchase $1.2M +63.2K +5.69% $19.00 1.17M Oct 9, 2025 See Note 2 F1, F2
transaction ZBIO Common Stock Purchase $1.2M +63.2K +3.41% $19.00 1.92M Oct 9, 2025 See Note 3 F1, F3
holding ZBIO Common Stock 1.95M Oct 9, 2025 See Note 4 F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Sr One Capital Management, Llc is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Acquired from the Issuer on October 9, 2025 pursuant to a Securities Purchase Agreement dated October 7, 2025.
F2 The reported securities are held directly by SR One Capital Opportunities Fund I, LP. SR One Capital Opportunities Partners I, LP is the general partner of SR One Capital Opportunities Fund I, LP, and SR One Capital Management, LLC is the general partner of SR One Capital Opportunities Partners I, LP. Simeon George, M.D. is the managing member of SR One Capital Management, LLC. Each of SR One Capital Opportunities Partners I, LP, SR One Capital Management, LLC and Dr. George may be deemed to have shared power to vote or dispose of these shares, and each disclaims beneficial ownership of the shares except to the extent of any pecuniary interest therein.
F3 The reported securities are held directly by AMZL, LP. SR One Capital SMA Partners, LP is the general partner of AMZL, LP, and SR One Capital Management, LLC is the general partner of SR One Capital SMA Partners, LP. Simeon George, M.D. is the managing member of SR One Capital Management, LLC. Each of SR One Capital SMA Partners, LP, SR One Capital Management, LLC and Dr. George may be deemed to have shared power to vote or dispose of these shares, and each disclaims beneficial ownership of the shares except to the extent of any pecuniary interest therein.
F4 The reported securities are held directly by SR One Capital Fund II Aggregator, LP. SR One Capital Partners II, LP is the general partner of SR One Capital Fund II Aggregator, LP, and SR One Capital Management, LLC is the general partner of SR One Capital Partners II, LP. Simeon George, M.D. is the managing member of SR One Capital Management, LLC. Each of SR One Capital Partners II, LP, SR One Capital Management, LLC and Dr. George may be deemed to have shared power to vote or dispose of these shares, and each disclaims beneficial ownership of the shares except to the extent of any pecuniary interest therein.