Mereo BioPharma (MREO) director receives grant of 66,000 zero-cost options

Rhea-AI Filing Summary

PAKIANATHAN DEEPIKA reported acquisition or exercise transactions in this Form 4 filing.

Mereo BioPharma Group plc director Deepika Pakianathan was granted share options covering 66,000 shares on February 26, 2026. The options have a right to buy the company’s shares at a price of $0.0000 per share.

The grant vests in substantially equal monthly installments over one year from the February 26, 2026 grant date, meaning portions of the award become exercisable each month during that period.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider PAKIANATHAN DEEPIKA

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Share Options (Right to buy)	66,000	$0.00	--

Holdings After Transaction: Share Options (Right to buy) — 66,000 shares (Direct)

Footnotes (1)

1. Vests in substantially equal monthly installments over a one year period from the February 26, 2026 grant date. Each American Depositary Share ("ADS") represents five ordinary shares, nominal value GBP 0.003 per ordinary share, of the Issuer.

Form 4 Insider Transactions: What Each Field Means →

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^*

PAKIANATHAN DEEPIKA

(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

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.

	/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.
* 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.

FAQ

What did Mereo BioPharma (MREO) director Deepika Pakianathan report on this Form 4?

The Form 4 reports that director Deepika Pakianathan received share options for 66,000 shares at an exercise price of $0.0000 per share, reflecting an equity award rather than an open-market purchase or sale of Mereo BioPharma shares.

How many Mereo BioPharma (MREO) share options were granted in this transaction?

The filing shows a grant of 66,000 share options. These are derivative securities giving the right to buy the issuer’s shares, and the total options held following the transaction is also reported as 66,000, indicating this is a new award position.

What is the exercise price of the Mereo BioPharma (MREO) options granted?

The options were granted with an exercise price of $0.0000 per share. This indicates the director can acquire the underlying shares without paying additional cash upon exercise, consistent with a compensatory equity award structure rather than a market-based option grant.

How do the Mereo BioPharma (MREO) option grants vest over time?

The options vest in substantially equal monthly installments over one year from the February 26, 2026 grant date. This means a portion of the 66,000 options becomes exercisable each month, aligning the director’s equity compensation with continued service during that year.

What is the relationship between Mereo BioPharma (MREO) ADSs and ordinary shares?

Each American Depositary Share (ADS) of Mereo BioPharma represents five ordinary shares with a nominal value of GBP 0.003 per ordinary share. This ratio helps investors understand how underlying ordinary shares translate into ADSs traded in U.S. markets.

Is this Mereo BioPharma (MREO) Form 4 a purchase or a grant of options?

The Form 4 reflects a grant or award acquisition of derivative securities, not an open-market purchase. The transaction code is “A” and described as a grant, award, or other acquisition of 66,000 share options, categorized as a derivative transaction.