Jacquet Pierre 4

What Happened
Pierre Jacquet, a non-executive director of Mereo BioPharma Group plc (MREO), was granted equity awards on February 26, 2026. The Form 4 shows two derivative awards: 66,000 shares acquired at $0.00 (award) and 106,848 units acquired (listed as N/A for price) that are deferred restricted stock units (DRSUs) elected to be paid in ADSs. These awards are compensation awards, not purchases — no cash was paid.

Key Details

• Transaction date: 2026-02-26 (reported on Form 4 filed 2026-02-27).
• Awards: 66,000 shares @ $0.00 (award); 106,848 units @ N/A (DRSUs/ADS). Total units granted = 172,848.
• Vesting: 66,000 shares vest in substantially equal monthly installments over one year from grant (F1). DRSUs vest in substantially equal monthly installments over the plan year following the grant date (F3).
• ADS note: Each American Depositary Share (ADS) represents five ordinary shares of the issuer (F2). The DRSUs were elected to be paid in ADSs (F3).
• Shares owned after transaction: Not disclosed in the filing.
• Timeliness: Filing appears timely (transaction 2026-02-26; Form 4 filed 2026-02-27).

Context
These are compensation-related derivative awards to a non-executive director (routine for director pay). DRSUs are deferred and typically paid in ADSs; payment of DRSUs in ADSs is generally made 180 days after separation of service. As awards (code A), they are not direct market purchases or sales and do not, by themselves, indicate a trading view.