Anderson Karen M. 4

What Happened

• Karen M. Anderson, Chief People Officer of Centessa Pharmaceuticals plc (CNTA), exercised stock options and immediately sold the resulting shares. She exercised 74,811 shares (64,768 on 2026-03-16 and 10,043 on 2026-03-17) at an exercise price of $4.01 per share (total exercise cost $299,992). She sold those shares in open-market transactions for total gross proceeds of approximately $2,109,179 (64,768 shares at a $28.21 weighted average on 3/16; 10,043 shares at a $28.10 weighted average on 3/17).
• Transaction codes: M = exercise/conversion of derivative (options), S = sale. The filing shows both the option conversion and the subsequent share sales.

Key Details

• Transaction dates: March 16, 2026 (64,768 shares) and March 17, 2026 (10,043 shares).
• Exercise cost: $4.01 per share; Sales weighted-average prices: $28.21 (3/16) and $28.10 (3/17).
• Gross proceeds from sales: $1,826,969 (3/16) + $282,210 (3/17) = $2,109,179; total exercise cost ≈ $299,992.
• Footnotes: Sales were effected pursuant to a Rule 10b5‑1 trading plan adopted Nov 12, 2025 (F2). Reported sale prices are weighted averages; price ranges were $27.99–$28.41 (F3) and $27.99–$28.21 (F4). Ordinary shares may be represented by ADSs (F1). Vesting schedule for the option is noted in the filing (25% on Dec 1, 2023; remainder monthly over 36 months) (F5).
• Shares owned after the transactions are not specified in the provided filing excerpt.
• Filing: Form 4 filed Mar 18, 2026 for transactions on Mar 16–17, 2026 — appears to be a timely filing.

Context

• This was an exercise of stock options followed by immediate open‑market sales of the acquired shares — a common pattern for exercising options and realizing value (sometimes called a cashless exercise or sell‑to‑cover when done same day). Such transactions provide liquidity and do not, by themselves, indicate the insider’s view of the company’s long‑term prospects.
• The sales were executed under a pre-established 10b5‑1 plan, which typically schedules trades in advance and can limit concerns about opportunistic timing.