Legend Biotech (NASDAQ: LEGN) director Mao Li reports options and RSU holdings

Rhea-AI Filing Summary

Legend Biotech Corp director Mao Li filed an initial ownership report showing existing equity awards rather than new trades. The filing lists a share option covering 30,000 ordinary shares at an exercise price of 23.2700 per share, expiring on August 1, 2032. Footnotes state 18,000 of these option shares are already exercisable, with the remainder vesting in two equal annual installments starting on August 2, 2026, subject to continued service.

The report also shows direct ownership of 44,330 ordinary shares, including 25,674 restricted share units that convert into one ordinary share each upon settlement. These RSUs vest in multiple quarterly installments beginning on March 20, 2026, and in a larger grant with an initial vest on June 20, 2026 followed by additional quarterly vesting dates. The company notes its ordinary shares may be represented by American Depositary Shares, with each ADS equal to two ordinary shares.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

Mao Li

(Last) (First) (Middle)

C/O LEGEND BIOTECH CORP

2101 COTTONTAIL LANE

(Street)

SOMERSET NEW JERSEY 08873

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Legend Biotech Corp [ LEGN ]

3a. Foreign Trading Symbol

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares(1)	44,330(2)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Share Option (right to buy)	(3)	08/01/2032	Ordinary Shares	30,000	$23.27	D

Explanation of Responses:

1. The Ordinary Shares of the Issuer may be represented by American Depositary Shares ("ADSs"). Each ADS represents two ordinary shares of the Issuer.

2. Includes 25,674 restricted share units (the "RSUs"). Each RSU represents a contingent right to receive one ordinary share of the Issuer upon settlement. 7,136 RSUs have settled, with the remainder vesting (i) as to 2,100 RSUs, in 3 equal quarterly installments beginning on March 20, 2026, (ii) as to 5,888 RSUs, in 7 equal quarterly installments beginning on March 20, 2026, and (iii) as to 10,550 RSUs, with 25% of the shares vesting on June 20, 2026 with the remainder vesting in 8 equal quarterly installments thereafter, subject to the Reporting Person's continued service to the Issuer on each such vesting date.

3. 18,000 of the shares subject to the option are immediately exercisable and the remainder vest in 2 equal annual installments beginning on August 2, 2026, subject to the Reporting Person's continued service to the Issuer on each such vesting date.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ James Pepin, Attorney-in-Fact	03/18/2026
	** 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 5 (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.
* Form 3: SEC 1473 (03-26)

FAQ

What does Mao Li report owning in Legend Biotech Corp (LEGN) on this Form 3?

Mao Li reports holdings of ordinary shares and stock options in Legend Biotech Corp. The position includes 44,330 ordinary shares and a share option over 30,000 ordinary shares at an exercise price of 23.2700 per share, expiring in 2032.

How many Legend Biotech (LEGN) shares are covered by Mao Li’s stock option?

The filing shows a share option covering 30,000 ordinary shares of Legend Biotech Corp. The option has an exercise price of 23.2700 per share and an expiration date of August 1, 2032, with partial immediate exercisability and additional vesting over time.

How many Legend Biotech (LEGN) ordinary shares does Mao Li directly hold after this Form 3?

Mao Li is reported to directly hold 44,330 ordinary shares of Legend Biotech Corp. This total includes 25,674 restricted share units that will settle into ordinary shares as they vest over specified quarterly and annual vesting schedules, subject to continued service.

What vesting terms apply to Mao Li’s restricted share units in Legend Biotech (LEGN)?

The filing states 25,674 restricted share units vest in several tranches. Portions vest in three and seven equal quarterly installments starting on March 20, 2026, and another grant vests 25% on June 20, 2026 with the remainder in eight equal quarterly installments thereafter.

When do Mao Li’s Legend Biotech (LEGN) stock options vest?

According to the disclosure, 18,000 shares under the option are immediately exercisable. The remaining option shares vest in two equal annual installments, beginning on August 2, 2026, contingent on Mao Li’s continued service to Legend Biotech Corp on each vesting date.

How are Legend Biotech (LEGN) ordinary shares represented by ADSs for Mao Li’s holdings?

The footnotes explain that Legend Biotech’s ordinary shares may be represented by American Depositary Shares. Each ADS represents two ordinary shares of the issuer, so Mao Li’s reported ordinary share and option positions could be viewed in ADS terms using this two-to-one ratio.