Sermon Charles 4

What Happened

• Charles Sermon, General Counsel of Mereo BioPharma Group plc (MREO), received three grants of derivative share awards on February 1, 2026 totaling 716,000 shares (315,750 + 105,250 + 295,000). Each grant lists an acquisition price of $0.00, indicating these were awards/compensation grants (transaction code A), not open-market purchases or sales. No cash changed hands in the filing; market value depends on Mereo’s share/ADS price at the time of vesting or settlement.

Key Details

• Transaction date: 2026-02-01; Filing date/accession: 2026-02-02 (filed within the Form 4 reporting window — timely).
• Reported price: $0.00 for each grant (award/compensation).
• Total shares granted: 716,000 derivative shares.
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Relevant footnotes:
  • F1: One award vests 25% on Feb 1, 2027, then the remainder vests in equal monthly installments over the following three years.
  • F3: One award vests in substantially equal monthly installments over one year from the Feb 1, 2026 grant date.
  • F2: Each ADS represents five ordinary shares (1 ADS = 5 ordinary shares), per the company’s ADR structure — check the filing to confirm whether counts are ADS or ordinary shares.
• Transaction code meaning: A = Award/Grant (derivative security). This was not an exercise (M) or sale (S).

Context

• These awards are likely time‑based compensation (e.g., restricted stock units or option grants) subject to vesting; they do not represent an immediate purchase of shares and do not by themselves indicate intent to buy or sell on the open market. For retail investors, awarded grants are common executive compensation and are less direct signals of near‑term insider sentiment than open‑market purchases.