Mereo BioPharma (MREO) grants new ADS option awards to officer

Rhea-AI Filing Summary

Mereo BioPharma Group plc reported that officer Alexandra Hughes-Wilson received new share option grants on February 1, 2026. The awards cover 183,750 American Depositary Shares (ADS) at an exercise price of $0.44, 61,250 ADS at $1.00, and 195,000 ADS at $0.44.

For the 183,750-ADS option, 25% vests on February 1, 2027, with the rest vesting in equal monthly installments over the next three years. The 195,000-ADS option vests in substantially equal monthly installments over one year from the February 1, 2026 grant date. Each ADS represents five ordinary shares of Mereo BioPharma.

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

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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^*

Hughes-Wilson Alexandra

(Last) (First) (Middle)

C/O MEREO BIOPHARMA GROUP PLC

4TH FLOOR, ONE CAVENDISH PLACE

(Street)

LONDON X0 W1G 0QF

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Mereo BioPharma Group plc [ MREO ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/01/2026

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

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
Share Options (Right to buy)	$0.44	02/01/2026		A		183,750		(1)	02/01/2036	American Depositary Shares(2)	183,750	$0.00	183,750	D
Share Options (Right to buy)	$1	02/01/2026		A		61,250		(1)	02/01/2036	American Depository Shares(2)	61,250	$0.00	61,250	D
Share Options (Right to buy)	$0.44	02/01/2026		A		195,000		(3)	02/01/2036	American Depository Shares(2)	195,000	$0.00	195,000	D

Explanation of Responses:

1. 25% of the shares underlying this share option will vest and become exercisable on February 1, 2027, with the remainder vesting in equal monthly installments for the three years thereafter.

2. Each American Depositary Share ("ADS") represents five ordinary shares, nominal value GBP 0.003 per ordinary share, of the Issuer.

3. Vests in substantially equal monthly installments over a one year period from the February 1, 2026 grant date.

Remarks:

Chief Patient Access and Commercial Planning

	/s/ Christine Fox, by power of attorney	02/02/2026
	** Signature of Reporting Person	Date
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