Jenkins Annalisa 4

What Happened Annalisa Jenkins, a non‑executive director of Mereo BioPharma Group plc (MREO), received two awards/grants (transaction code A) on February 26, 2026: 66,000 derivative shares reported at $0.00 and 106,848 derivative shares reported as N/A. These awards are deferred restricted stock units (DRSUs) granted in lieu of annual cash compensation and are recorded as derivative securities (no cash paid on grant).

Key Details

• Transaction date: 2026-02-26; filing date: 2026-02-27 (timely).
• Grants: 66,000 shares @ $0.00 (acquired) and 106,848 shares @ N/A (acquired). Both are reported as derivative awards (code A).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Vesting/payment: Vests in substantially equal monthly installments over one year from the Feb 26, 2026 grant date (footnotes F1/F3). DRSUs elected in ADS form are generally paid in ADSs 180 days following separation of service.
• ADS note: Each American Depositary Share (ADS) represents five ordinary shares of the issuer (footnote F2).

Context DRSUs are deferred awards that convert to ADSs (and then to ordinary shares) upon vesting/payment; they are commonly used for non‑executive director compensation and do not represent an open‑market purchase or sale. Because these are grants/deferrals rather than purchases or dispositions, they should be viewed as compensation awards rather than an immediate bullish or bearish insider trade signal.