# EDGAR Filing Document

**Accession Number:** 0001404955
**File Stem:** 0001193125-25-312127
**Filing Date:** 2025-12
**Character Count:** 9308
**Document Hash:** 0cdfb49bf09b36b73f655e7c3cda4739
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-312127.hdr.sgml**: 20251209

**ACCESSION NUMBER**: 0001193125-25-312127

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251209

**FILED AS OF DATE**: 20251209

**DATE AS OF CHANGE**: 20251209

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Harrison Seth Loring
- **CENTRAL INDEX KEY:** 0001404955

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38944
- **FILM NUMBER:** 251557912

**MAIL ADDRESS:**
- **STREET 1:** 230 PARK AVENUE, SUITE 2800
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10169
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Akero Therapeutics, Inc.
- **CENTRAL INDEX KEY:** 0001744659
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 601 GATEWAY BOULEVARD, SUITE 350
- **CITY:** SOUTH SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94080
- **BUSINESS PHONE:** 650-487-6488

**MAIL ADDRESS:**
- **STREET 1:** 601 GATEWAY BOULEVARD, SUITE 350
- **CITY:** SOUTH SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94080

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[x] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Harrison Seth Loring<br><sub>(Last) (First) (Middle)</sub><br>C/O AKERO THERAPEUTICS, INC.<br>601 GATEWAY BOULEVARD, SUITE 350<br><sub>(Street)</sub><br>SOUTH SAN FRANCISCO, CA 94080<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-12-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Akero Therapeutics, Inc. [ AKRO ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-12-09 |  | D |  | 136301<sup>(1)</sup> | D | <sup>(1)</sup> | 0 | D |  |
| Common Stock | 2025-12-09 |  | D |  | 148063<sup>(1)</sup> | D | <sup>(1)</sup> | 0 | I | See Footnote<sup>(2)</sup> |
| Common Stock | 2025-12-09 |  | D |  | 9398<sup>(3)</sup> | D | <sup>(4)</sup> | 0 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Stock Option (Right to Buy) | $23.02 | 2025-12-09 |  | D |  |  | 26000 | <sup>(5)</sup> | 2034-06-08 | Common Stock | 26000 | <sup>(5)</sup> | 0 | D |  |
| Stock Option (Right to Buy) | $50.83 | 2025-12-09 |  | D |  |  | 15000 | <sup>(5)</sup> | 2033-06-23 | Common Stock | 15000 | <sup>(5)</sup> | 0 | D |  |
| Stock Option (Right to Buy) | $8.13 | 2025-12-09 |  | D |  |  | 15000 | <sup>(5)</sup> | 2032-06-02 | Common Stock | 15000 | <sup>(5)</sup> | 0 | D |  |
| Stock Option (Right to Buy) | $26.32 | 2025-12-09 |  | D |  |  | 13000 | <sup>(5)</sup> | 2031-06-01 | Common Stock | 13000 | <sup>(5)</sup> | 0 | D |  |
| Stock Option (Right to Buy) | $25.2 | 2025-12-09 |  | D |  |  | 13000 | <sup>(5)</sup> | 2030-06-01 | Common Stock | 13000 | <sup>(5)</sup> | 0 | D |  |
| Stock Option (Right to Buy) | $19.97 | 2025-12-09 |  | D |  |  | 26000 | <sup>(5)</sup> | 2029-11-08 | Common Stock | 26000 | <sup>(5)</sup> | 0 | D |  |

---

### Footnotes:

(1) 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").

(2) Represents shares held directly by Les Pommes, LLC, a family limited liability company for which the Reporting Person is the manager. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

(3) 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 RSU.

(4) 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.

(5) 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.

**Signature:** /s/ Jonathan Young, Attorney-in-Fact  
**Date:** 2025-12-09

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**