Immunocore R&D head sells shares to cover RSU taxes

Immunocore Holdings plc’s Head of R&D, David M. Berman, reported RSU vesting, share issuance and a related tax sale.

Rhea-AI Filing Summary

Immunocore Holdings plc’s Head of R&D, David M. Berman, reported RSU vesting, share issuance and a related tax sale. On February 17, 2026, he exercised 11,824 Restricted Share Units, receiving the same number of Ordinary Shares at a $0.00 exercise price.

On February 18, 2026, he conducted an open-market sale of 5,965 Ordinary Shares at a weighted average price of $32.35 per share, under a sell-to-cover arrangement to satisfy income tax liabilities from RSU vesting. After these transactions, he directly held 5,859 Ordinary Shares and 35,473 RSUs. Each RSU and each American Depositary Share represents one Ordinary Share.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider Berman David M

Role HEAD OF R&D

Sold 5,965 shs ($193K)

Approx. gross sale proceeds $193K

Approx. exercise cost $0.00

Type	Security	Shares	Price	Value
Sale	Ordinary Shares	5,965	$32.35	$193K
Exercise	Restricted Share Units	11,824	$0.00	$0.00
Exercise	Ordinary Shares	11,824	$0.00	$0.00

Holdings After Transaction: Restricted Share Units — 35,473 contracts (Direct); Ordinary Shares — 5,859 shares (Direct)

Footnotes (5)

1. F1. Ordinary Shares may be represented by American Depositary Shares. Each American Depositary Share represents one Ordinary Share.
2. F2. The shares were sold pursuant to a sell-to-cover arrangement for the purpose of satisfying income tax liabilities incurred upon vesting of restricted stock units ("RSUs").
3. F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.17 to $32.70 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
4. F4. Each RSU represents a contingent right to receive one Ordinary Share.
5. F5. On February 17, 2025, the Reporting Person was granted 47,297 RSUs, vesting in four equal annual installments beginning February 17, 2026, subject to the Reporting Person's continuous service through each such vesting date.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Immunocore (IMCR) report for David M. Berman?

David M. Berman reported exercising 11,824 Restricted Share Units into Ordinary Shares and selling 5,965 Ordinary Shares. The sale was executed in the open market as part of a sell-to-cover arrangement tied to income tax liabilities from RSU vesting.

Was the Immunocore (IMCR) insider share sale discretionary or tax-related?

The 5,965-share sale by David M. Berman was tax-related. It was executed under a sell-to-cover arrangement specifically to satisfy income tax liabilities incurred when his restricted stock units vested at Immunocore Holdings plc.

At what prices were the Immunocore (IMCR) insider shares sold?

The reported weighted average sale price was $32.35 per share, with individual trades executed between $32.17 and $32.70. Investors can request detailed trade breakdowns from the company, any security holder, or SEC staff, according to the disclosure language.

How many Immunocore (IMCR) shares and RSUs does David M. Berman hold after these transactions?

After the reported transactions, David M. Berman directly holds 5,859 Ordinary Shares and 35,473 Restricted Share Units. Each RSU represents a contingent right to receive one Ordinary Share of Immunocore Holdings plc, subject to applicable vesting conditions.

What are the key terms of David M. Berman’s Immunocore (IMCR) RSU grant?

On February 17, 2025, David M. Berman was granted 47,297 RSUs. These units vest in four equal annual installments starting February 17, 2026, contingent upon his continuous service with Immunocore Holdings plc through each scheduled vesting date.

How do Immunocore (IMCR) American Depositary Shares relate to Ordinary Shares?

Each American Depositary Share of Immunocore Holdings plc represents one Ordinary Share. This one-to-one ratio means ADS holders have economic exposure equivalent to directly holding the same number of underlying Ordinary Shares in the company.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/19/2026 - 05:00 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Berman David M

(Last) (First) (Middle)

C/O IMMUNOCORE HOLDINGS PLC

92 PARK DRIVE, MILTON PARK

(Street)

ABINGDON, OXFORDSHIRE X0 OX14 4RY

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Immunocore Holdings plc [ IMCR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	HEAD OF R&D

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Ordinary Shares(1)	02/17/2026		M		11,824	A	$0	11,824	D
Ordinary Shares(1)	02/18/2026		S		5,965(2)	D	$32.35(3)	5,859	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Share Units	(4)	02/17/2026		M			11,824	(5)	(5)	Ordinary Shares(1)	11,824	$0	35,473	D

Explanation of Responses:

1. Ordinary Shares may be represented by American Depositary Shares. Each American Depositary Share represents one Ordinary Share.

2. The shares were sold pursuant to a sell-to-cover arrangement for the purpose of satisfying income tax liabilities incurred upon vesting of restricted stock units ("RSUs").

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.17 to $32.70 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. Each RSU represents a contingent right to receive one Ordinary Share.

5. On February 17, 2025, the Reporting Person was granted 47,297 RSUs, vesting in four equal annual installments beginning February 17, 2026, subject to the Reporting Person's continuous service through each such vesting date.

	/s/ Lily Hepworth, Attorney-in-Fact	02/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.