<SEC-DOCUMENT>0000950170-25-113125.txt : 20250904
<SEC-HEADER>0000950170-25-113125.hdr.sgml : 20250904
<ACCEPTANCE-DATETIME>20250904203612
ACCESSION NUMBER:		0000950170-25-113125
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250902
FILED AS OF DATE:		20250904
DATE AS OF CHANGE:		20250904

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Thompson Christopher Charles
		CENTRAL INDEX KEY:			0002084796
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41942
		FILM NUMBER:		251294797

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

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>2025-09-02</periodOfReport>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002084796</rptOwnerCik>
            <rptOwnerName>Thompson Christopher Charles</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>0.9767</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-09-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>45000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2035-09-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>45000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>45000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The stock option was awarded for the Reporting Person's appointment on the Issuer's board of directors pursuant to the Issuer's non-employee compensation policy. The stock option vests in three annual installments beginning on 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>2025-09-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
