Hagler Mark Arnold 4

What Happened
Mark Hagler (Chief Commercial Officer) received an equity award on July 8, 2026: 949,050 derivative shares reported as American Depositary Shares (ADS) with an exercise/price of $0.00 (no cash paid at grant). Per the filing footnote conversion, each 10 ADS represent 23 ordinary shares, so the 949,050 ADSs correspond to 2,182,815 ordinary shares. The award vests in four equal annual installments beginning on the first anniversary of April 17, 2026 (first vesting April 17, 2027).

Key Details

• Transaction date: July 8, 2026; Form 4 filed July 10, 2026. No late filing indicated in the document.
• Transaction type/code: A — Grant/award (derivative). Price reported: $0.00.
• Award amount: 949,050 ADS (reported); equivalent to 2,182,815 ordinary shares using 10 ADS = 23 ordinary shares.
• Vesting: Four equal annual installments beginning on the first anniversary of April 17, 2026.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 (numbers/prices expressed in ADS), F2 (vesting schedule), F3 (ADS-to-ordinary share ratio).

Context
This is a time-based equity award (derivative) granted as compensation/incentive rather than an open-market purchase or sale. Because it vests over multiple years and carries a $0.00 exercise/price at grant, it functions like a retention/reward award; there was no immediate sale or cashless exercise reported. Such grants increase potential future dilution if they vest and convert to outstanding shares, but they do not by themselves indicate buying or selling sentiment.