Sec Form 4 Filing - Versant Venture Capital VI, L.P. @ Akero Therapeutics, Inc. - 2019-12-27

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 Versant Venture Capital VI, L.P. 2. Issuer Name and Ticker or Trading Symbol Akero Therapeutics, Inc. [ AKRO] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) ONE SANSOME STREET, SUITE 3630 3. Date of Earliest Transaction (MM/DD/YY) 12/27/2019 (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 12/27/2019 S( 1 )( 2 ) 33,256 D $ 22.58 ( 2 ) 4,012,711 D ( 5 ) Common Stock 12/30/2019 S( 1 )( 3 ) 338,919 D $ 24.39 ( 3 ) 3,673,792 D ( 5 ) Common Stock 12/31/2019 S( 1 )( 4 ) 17,207 D $ 23.48 ( 4 ) 3,656,585 D ( 5 )

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

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Versant Venture Capital VI, L.P. ONE SANSOME STREET, SUITE 3630 SAN FRANCISCO, CA94104 X Signatures VERSANT VENTURE CAPITAL VI, L.P.By: Versant Ventures VI GP, L.P., its general partner By: Versant Ventures VI GP-GP, LLC, its general partner By: /s/ Robin L. Praeger Robin L. Praeger, Managing Director 12/31/2019 Signature of Reporting Person Date Versant Ventures VI GP, L.P. By: Versant Ventures VI GP-GP, LLC, its general partner Its: General Partner By: /s/ Robin L. Praeger Robin L. Praeger, Managing Director 12/31/2019 Signature of Reporting Person Date Versant Ventures VI GP-GP, LLC By: /s/ Robin L. Praeger Robin L. Praeger, Managing Director 12/31/2019 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan. ( 2 )These sales were executed in multiple trades at prices ranging from $21.56 to $23.52. The price reported above reflects the weighted average sale price. The reporting persons hereby undertake to provide full information regarding the number of shares and prices at which these sales were effected, upon request, to the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer. ( 3 )These sales were executed in multiple trades at prices ranging from $22.98 to $33.61. The price reported above reflects the weighted average sale price. The reporting persons hereby undertake to provide full information regarding the number of shares and prices at which these sales were effected, upon request, to the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer. ( 4 )These sales were executed in multiple trades at prices ranging from $[ ] to $[ ]. The price reported above reflects the weighted average sale price. The reporting persons hereby undertake to provide full information regarding the number of shares and prices at which these sales were effected, upon request, to the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer. ( 5 )These shares are owned directly by Versant Venture Capital VI, L.P. ("Versant VI"). Versant Ventures VI GP, LP ("Versant GP LP") is the general partner of Versant VI and Versant Ventures VI GP-GP, LLC ("Versant GP LLC") is the general partner of Versant GP LP and the ultimate general partner of Versant VI. Versant GP LP and Versant GP LLC may be deemed to have voting and investment power over the securities held by Versant VI and as a result may be deemed to have beneficial ownership over such securities.

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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