Mereo BioPharma (MREO) director receives option and deferred RSU grants

Rhea-AI Filing Summary

Ekblom Anders reported acquisition or exercise transactions in this Form 4 filing.

Mereo BioPharma Group plc director Anders Ekblom reported equity awards that increase his potential ownership stake. He received share options for 66,000 shares at a price of $0.0000 per share and 133,560 deferred restricted stock units, both granted on February 26, 2026.

The options vest in substantially equal monthly installments over one year from the grant date. The deferred restricted stock units were elected in lieu of annual cash compensation and also vest in substantially equal monthly installments over the plan year, with settlement in American Depositary Shares, where each ADS represents five ordinary shares, generally 180 days after separation of service.

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^*

Ekblom Anders

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2026

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)	$0.39	02/26/2026		A		66,000		(1)	02/26/2036	American Depositary Shares(2)	66,000	$0	66,000	D
Deferred Restricted Stock Units	(3)	02/26/2026		A		133,560		(3)	(3)	American Depository Shares(2)	133,560	(3)	133,560	D

Explanation of Responses:

1. Vests in substantially equal monthly installments over a one year period from the February 26, 2026 grant date.

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

3. Deferred restricted stock units ("DRSU") are granted to non-executive directors who elected to receive DRSUs in the form of ADSs in lieu of annual cash compensation. DRSUs vest in substantially equal monthly installments over the plan year following the grant date. Payment of DRSUs in ADSs will generally be made 180 days following separation of service.

	/s/ Christine Fox, by power of attorney	02/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Mereo BioPharma (MREO) director Anders Ekblom report on this Form 4?

He reported equity awards of share options and deferred restricted stock units. The filing shows 66,000 share options and 133,560 deferred restricted stock units granted on February 26, 2026, increasing his potential future equity interest in Mereo BioPharma.

How many Mereo BioPharma (MREO) share options were granted to Anders Ekblom?

He was granted 66,000 share options at an exercise price of $0.0000 per share. These options vest in substantially equal monthly installments over one year from the February 26, 2026 grant date, subject to continued service and plan terms.

What are the deferred restricted stock units (DRSUs) reported by MREO’s director?

The director received 133,560 deferred restricted stock units in lieu of annual cash compensation. These DRSUs vest in substantially equal monthly installments over the plan year, and payment in American Depositary Shares generally occurs 180 days after separation of service.

How do Mereo BioPharma (MREO) American Depositary Shares relate to ordinary shares?

Each American Depositary Share represents five ordinary shares of Mereo BioPharma. This ratio applies to both the share options and deferred restricted stock units settled in ADSs, linking the derivative awards to the underlying ordinary equity of the company.

Is the Form 4 for Mereo BioPharma (MREO) a purchase or a grant of securities?

The Form 4 reflects grants of derivative securities, not open-market purchases. Both the share options and deferred restricted stock units are reported with transaction code “A” for grant or award acquisition, at a stated price per share of $0.0000 under the company’s compensation arrangements.

How do the MREO deferred restricted stock units for the director typically get paid out?

The deferred restricted stock units are generally paid in American Depositary Shares 180 days after separation of service. Until then, they vest in substantially equal monthly installments over the plan year following the grant date, aligning director compensation with longer-term service.