Shames Daniel 4

What Happened
Daniel Shames, a director of Mereo BioPharma Group plc (MREO), received two derivative equity awards on February 26, 2026 totaling 162,163 units (66,000 and 96,163). One award is reported at $0.00 per share (no cash paid); the other lists price as N/A. These are grants (A) — deferred restricted stock units (DRSUs) rather than open-market purchases or sales.

Key Details

• Transaction date: 2026-02-26; filing date: 2026-02-27 (timely).
• Awards: 66,000 and 96,163 derivative units; combined total 162,163 units. Reported acquisition prices: $0.00 and N/A.
• Shares owned after transaction: Not specified in the filing.
• Footnotes:
  • F1: Awards vest in substantially equal monthly installments over one year from the grant date.
  • F2: Each American Depositary Share (ADS) represents five ordinary shares (GBP 0.003 par value).
  • F3: These are DRSUs granted to non‑executive directors who elected to receive DRSUs in ADS form; DRSUs vest monthly over the plan year and are generally paid in ADSs 180 days after separation of service.
• Transaction code: A = Award/Grant (derivative). No 10b5-1 or tax-withholding mechanics specified.

Context
DRSUs are deferred compensation and do not represent immediately tradable ordinary shares until vested and settled (here, often in ADSs). Such director awards are a routine form of compensation and are informational rather than a direct buy/sell signal.