Keenova Therapeutics plc 8-K

What Happened

• Keenova Therapeutics plc filed a Form 8-K reporting that on February 18, 2026 the Board adopted a form of award agreement for restricted stock units (RSUs) and a form of award agreement for performance‑based stock units (PSUs) under the Keenova Therapeutics plc 2025 Stock and Incentive Plan (the “Plan”). The Plan itself was previously disclosed on August 14, 2025.
• The Award Forms set out terms for vesting, treatment on termination and changes in control, and the types of performance measures that may be used to determine PSU vesting. The company attached the Form of RSU Award and Form of PSU Award as Exhibits 10.1 and 10.2 to the 8‑K.

Key Details

• Date adopted by Board: February 18, 2026. Plan originally disclosed: August 14, 2025.
• Award types covered by the Plan include stock options, stock appreciation rights, restricted stock, RSUs, deferred stock units and other stock‑based awards.
• PSU performance measures may include organizational, financial or strategic goals such as total stockholder return, cash flow, sales/revenue, net income, EBITDA, EPS, operating margin, return on equity, regulatory approvals, licenses, commercial agreements, and acquisitions/dispositions.
• The Award Forms govern vesting schedules and treatment upon termination or change in control; grants may be made using these forms or revised versions as permitted by the Plan.

Why It Matters

• Adoption of these award forms formally enables Keenova to grant equity and performance‑based awards to employees, directors and consultants under the 2025 Plan. For investors, such grants can affect management incentives and future share dilution.
• Investors should watch for future disclosures about actual grants, vesting targets and award amounts (which will show any potential dilution and how management pay is tied to company performance). The attached forms in the filing provide the specific contract terms investors can review.