Mesoblast director Philip Krause reports initial holdings

Mesoblast Ltd director Philip R. Krause has filed an initial ownership report showing his equity position in the company.

Rhea-AI Filing Summary

Mesoblast Ltd director Philip R. Krause has filed an initial ownership report showing his equity position in the company. He directly holds 287,500 Ordinary Shares, which are represented by American Depositary Shares. In addition, he holds multiple option awards over Ordinary Shares with exercise prices between $0.32 and $0.99 per share and expirations ranging from 2029 to 2031. Footnotes indicate that certain options were granted in 2023 and 2024 and are scheduled to vest between October 24, 2026 and August 27, 2027, aligning his compensation with the company’s long-term performance.

Insider Trade Summary

12 transactions reported

Mixed 12 txns

Insider KRAUSE PHILIP R.

Role Director

Type	Security	Shares	Price	Value
holding	Option (right to buy)	--	--	--
holding	Option (right to buy)	--	--	--
holding	Option (right to buy)	--	--	--
holding	Option (right to buy)	--	--	--
holding	Option (right to buy)	--	--	--
holding	Option (right to buy)	--	--	--
holding	Option (right to buy)	--	--	--
holding	Option (right to buy)	--	--	--
holding	Option (right to buy)	--	--	--
holding	Option (right to buy)	--	--	--
holding	Option (right to buy)	--	--	--
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Option (right to buy) — 2,510,000 contracts (Direct); Ordinary Shares — 287,500 shares (Direct)

Footnotes (4)

1. F1. Such Ordinary Shares are represented by American Depositary Shares.
2. F2. Granted on August 27, 2024. 261,667 options will vest on August 27, 2026 and 261,666 options will vest on August 27, 2027.
3. F3. Granted on October 24, 2023. Such options will vest on October 24, 2026.
4. F4. Granted on March 11, 2024. Such options will vest on March 11, 2027.

FAQ

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

What does Philip R. Krause report owning in Mesoblast (MESO)?

Philip R. Krause reports direct ownership of 287,500 Ordinary Shares of Mesoblast. He also holds several option awards over additional Ordinary Shares, providing potential future equity exposure if the options vest and are exercised according to their terms.

Are Mesoblast (MESO) shares held by Philip R. Krause in ADR form?

Yes. The filing notes that the Ordinary Shares are represented by American Depositary Shares. This means U.S. investors typically trade Mesoblast equity through ADRs, while the underlying security referenced in Krause’s holdings is the company’s Ordinary Shares.

What stock options does Philip R. Krause hold in Mesoblast (MESO)?

Krause holds several options to buy Ordinary Shares at exercise prices ranging from $0.32 to $0.99 per share. These options provide the right, but not the obligation, to purchase shares before their respective expiration dates in 2029–2031.

When do Philip R. Krause’s Mesoblast (MESO) options vest?

Footnotes state that options granted on October 24, 2023 will vest on October 24, 2026. Options granted on March 11, 2024 will vest on March 11, 2027, and a grant from August 27, 2024 vests in tranches in 2026 and 2027.

Did Philip R. Krause buy or sell Mesoblast (MESO) shares in this filing?

No. This Form 3 is an initial statement of beneficial ownership, listing existing holdings and option awards. The transaction summary shows no reported buys or sells; entries are classified as holdings rather than new market transactions.

What is the significance of the expiration dates on Mesoblast (MESO) options held by Krause?

The options expire between 2030 and 2031, giving Krause a long window to exercise if conditions are favorable. These long-dated options are a common form of equity-based compensation designed to align director incentives with long-term company performance.

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

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Accepted by SEC EDGAR 03/18/2026 - 05:44 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

KRAUSE PHILIP R.

(Last) (First) (Middle)

LEVEL 38

55 COLLINS STREET

(Street)

MELBOURNE, VICTORIA 3000

(City) (State) (Zip)

AUSTRALIA

(Country)

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

3. Issuer Name and Ticker or Trading Symbol
MESOBLAST LTD [ MESO ]

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)	287,500	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
Option (right to buy)	05/23/2023	05/22/2029	Ordinary Shares	66,667	$0.99	D
Option (right to buy)	05/23/2024	05/22/2029	Ordinary Shares	66,667	$0.99	D
Option (right to buy)	10/24/2024	10/23/2030	Ordinary Shares	328,333	$0.37	D
Option (right to buy)	03/11/2025	03/10/2031	Ordinary Shares	180,000	$0.32	D
Option (right to buy)	05/23/2025	05/22/2029	Ordinary Shares	66,666	$0.99	D
Option (right to buy)	08/27/2025	08/26/2031	Ordinary Shares	261,667	$0.97	D
Option (right to buy)	10/24/2025	10/23/2030	Ordinary Shares	328,333	$0.37	D
Option (right to buy)	03/11/2026	03/10/2031	Ordinary Shares	180,000	$0.32	D
Option (right to buy)	(2)	08/26/2031	Ordinary Shares	523,333	$0.97	D
Option (right to buy)	(3)	10/23/2030	Ordinary Shares	328,334	$0.37	D
Option (right to buy)	(4)	03/10/2031	Ordinary Shares	180,000	$0.32	D

Explanation of Responses:

1. Such Ordinary Shares are represented by American Depositary Shares.

2. Granted on August 27, 2024. 261,667 options will vest on August 27, 2026 and 261,666 options will vest on August 27, 2027.

3. Granted on October 24, 2023. Such options will vest on October 24, 2026.

4. Granted on March 11, 2024. Such options will vest on March 11, 2027.

Remarks:

1. All exercise prices are in Australian dollars.

	/s/ Philip R Krause	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)