BICYCLE THERAPEUTICS PLC — Director's Dealing 2019

May 30, 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: GLAXOSMITHKLINE PLC (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-05-28	Ordinary Shares	C	893195	—	Acquired	893195	Indirect
2019-05-28	Ordinary Shares	C	636366	—	Acquired	1529561	Indirect
2019-05-28	Ordinary Shares	P	385714	$14.00	Acquired	1915275	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-28	Series A Preferred Shares	$	C	625049	Disposed		Ordinary Shares (893195)	Indirect
2019-05-28	Series B1 Preferred Shares	$	C	445323	Disposed		Ordinary Shares (636366)	Indirect

Footnotes

F1: S.R. One, Limited acquired 385,714 Common Stock of Bicycle Therapeutics Limited (the "Issuer") in connection with the Issuer's initial public offering.

F2: The Series A Preferred Shares and the Series B1 Preferred Shares were converted into 1.429 shares of ordinary shares upon the closing of the Issuer's initial public offering without payment of consideration. The Series A Preferred Shares and the Series B1 Preferred Shares were convertible at any time at the holder's election and automatically upon the closing of the Issuer's initial public offering. The Preferred Stock had no expiration date.

F3: The shares reported herein are held of record by S.R. One, Limited, an indirect,wholly-owned subsidiary of GlaxoSmithKline plc (the "Reporting Person").