<SEC-DOCUMENT>0000950170-25-086149.txt : 20250613
<SEC-HEADER>0000950170-25-086149.hdr.sgml : 20250613
<ACCEPTANCE-DATETIME>20250613160512
ACCESSION NUMBER:		0000950170-25-086149
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250611
FILED AS OF DATE:		20250613
DATE AS OF CHANGE:		20250613

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Conaway Samuel
		CENTRAL INDEX KEY:			0002007319
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41942
		FILM NUMBER:		251046432

	MAIL ADDRESS:	
		STREET 1:		C/O FRACTLY HEALTH, INC.
		STREET 2:		17 HARTWELL AVENUE
		CITY:			LEXINGTON
		STATE:			MA
		ZIP:			02421

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRACTYL HEALTH, INC.
		CENTRAL INDEX KEY:			0001572616
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				273553477
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3 VAN DE GRAAFF DRIVE
		STREET 2:		SUITE 200
		CITY:			BURLINGTON
		STATE:			MA
		ZIP:			01803
		BUSINESS PHONE:		781-902-8800

	MAIL ADDRESS:	
		STREET 1:		3 VAN DE GRAAFF DRIVE
		STREET 2:		SUITE 200
		CITY:			BURLINGTON
		STATE:			MA
		ZIP:			01803

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Fractyl Health, Inc.
		DATE OF NAME CHANGE:	20210617

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Fractyl Laboratories Inc.
		DATE OF NAME CHANGE:	20130320
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-06-11</periodOfReport>

    <issuer>
        <issuerCik>0001572616</issuerCik>
        <issuerName>FRACTYL HEALTH, INC.</issuerName>
        <issuerTradingSymbol>GUTS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002007319</rptOwnerCik>
            <rptOwnerName>Conaway Samuel</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3 VAN DE GRAAFF DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 200</rptOwnerStreet2>
            <rptOwnerCity>BURLINGTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>01803</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.27</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-06-11</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>22500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2035-06-10</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>22500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>22500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The stock option was awarded as compensation for the Reporting Person's service on the Issuer's board of directors pursuant to the Issuer's non-employee director compensation policy. The stock option will vest and become exercisable in a single installment on the earlier of (i) the date of the next annual meeting of stockholders or (ii) the first anniversary of the grant in each case subject to continued service on the Issuer's board of directors as a non-employee director through the vesting date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Lisa A. Davidson, Attorney-in-fact</signatureName>
        <signatureDate>2025-06-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
