BICYCLE THERAPEUTICS PLC — Director's Dealing 2019

May 31, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BICYCLE THERAPEUTICS plc (BCYC)
CIK: 0001761612
Period of Report: 2019-05-28

Reporting Person: Anstey Michael (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-05-28	Ordinary Shares	C	1081823	—	Acquired	1081823	Indirect
2019-05-28	Ordinary Shares	X	125587	—	Acquired	1207410	Indirect
2019-05-28	Ordinary Shares	C	229741	—	Acquired	1437151	Indirect
2019-05-28	Ordinary Shares	P	314286	$14	Acquired	1751437	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-28	Series B1 Preferred Shares	$	C	1081823	Acquired		Ordinary Shares (1081823)	Indirect
2019-05-28	Series B1 Preferred Shares Warrants	$	X	125587	Acquired		Ordinary Shares (125587)	Indirect
2019-05-28	Series B2 Preferred Shares	$	C	229741	Acquired		Ordinary Shares (229741)	Indirect

Footnotes

F1: Each Series B1 and B2 Preferred Share automatically converted into Ordinary Shares on a one-for-1.429 basis upon the closing of the Issuer's initial public offering and had no expiration date.

F2: The shares are held by Cambridge Innovation Capital (Jersey) Limited. The Reporting Person is a member of our Board of Directors and an investment director at Cambridge Innovation Capital plc.

F3: Upon conversion of all of the Series B1 Preferred Shares into Ordinary Shares in connection with the Issuer's initial public offering, the Warrants became exercisable for Ordinary Shares. The Warrants had an exercise price of a nominal value per share and were exercised immediately prior to completion of the Issuer's initial public offering.