Sec Form 4 Filing - Le-Nguyen Quoc @ 89bio, Inc. - 2023-02-09

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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Le-Nguyen Quoc 2. Issuer Name and Ticker or Trading Symbol 89bio, Inc. [ ETNB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) See Remarks (Last) (First) (Middle) C/O 89BIO, INC., 142 SANSOME STREET, 2ND FLOOR 3. Date of Earliest Transaction (MM/DD/YY) 02/09/2023 (Street) SAN FRANCISCO, CA94104 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 02/09/2023 A( 1 ) 30,000 ( 1 ) A $ 0 93,319 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock Option (Right to Buy) $ 14.7 02/09/2023 A 120,000 ( 2 ) 02/09/2033 Common Stock 120,000 $ 0 120,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Le-Nguyen Quoc C/O 89BIO, INC. 142 SANSOME STREET, 2ND FLOOR SAN FRANCISCO, CA94104 See Remarks Signatures /s/ Ryan A. Murr, as attorney-in-fact for Quoc Le-Nguyen 02/13/2023 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Represents restricted stock units that vest with respect to one-third of the underlying shares on February 9, 2024, with the remaining two-thirds vesting in equal semi-annual installments over the following two years, subject to the Reporting Person's continued service to the Issuer. ( 2 )This option represents a right to purchase a total of 120,000 shares of the Issuer's Common Stock, one quarter of which will vest on February 9, 2024, with the remaining three quarters vesting in equal quarterly installments over the following three years, subject to the Reporting Person's continued service to the Issuer.

Remarks: Chief Technical Operations Officer and Head of Quality

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).

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