Ekblom Anders 4

What Happened
Anders Ekblom, a non‑executive director of Mereo BioPharma Group plc (MREO), received equity awards on Feb 26, 2026. The Form 4 reports two derivative awards totaling 199,560 shares (66,000 shares listed at $0.00 and 133,560 shares listed as N/A). These are deferred restricted stock units (DRSUs) granted as director compensation, not open‑market purchases or sales, and therefore represent routine compensation rather than an immediate bullish or bearish trade.

Key Details

• Transaction date: February 26, 2026; filing date: February 27, 2026 (reported timely).
• Awards: 66,000 shares @ $0.00 (derivative) and 133,560 shares @ N/A (derivative); total 199,560 ordinary‑share units.
• ADS equivalent: If paid in ADSs (per footnote), 199,560 ordinary shares = 39,912 ADSs (1 ADS = 5 ordinary shares).
• Vesting/payment: Vests in substantially equal monthly installments over one year from Feb 26, 2026. DRSUs elected to be paid in ADSs are generally paid 180 days after separation of service. (Footnotes F1–F3)
• Shares owned after transaction: Not specified in the filing.
• Nature of transaction: Award/grant (code A) — derivative units granted as director compensation, not an immediate stock purchase or sale.

Context
DRSUs are time‑based, deferred awards that convert into ADSs/ordinary shares later and are commonly used to compensate non‑executive directors. These grants are routine compensation and do not by themselves indicate the director is buying or selling shares in the market.