132.6M-share option award granted to NuCana (NCNA) Chief Operating Officer

Rhea-AI Filing Summary

NuCana plc granted Chief Operating Officer Theresa Margaret Bruce options over 132,600,130 Ordinary Shares. The options carry an exercise price of 0.0004 Pounds Sterling per share, aligning with the nominal value of the Ordinary Shares.

According to the award terms, 50% of the underlying shares vested on April 15, 2026, with the remaining half scheduled to vest in four equal annual installments, contingent on continued service. Following this grant, Bruce holds options over 132,600,130 Ordinary Shares that expire on April 15, 2036.

Insights

Equity compensation analyst

NuCana granted its COO a very large, long-dated stock option award.

The filing shows Chief Operating Officer Theresa Margaret Bruce receiving options over 132,600,130 Ordinary Shares at an exercise price of 0.0004 Pounds Sterling per share. This is a grant (code A), not an open-market purchase or sale.

The award vests 50% on April 15, 2026, with the remainder vesting in four equal annual tranches, subject to continued service. The options expire on April 15, 2036, encouraging long-term alignment with shareholders while spreading the benefit over several years.

Because this is compensation rather than a discretionary trade, it carries weaker signaling value about management’s view of the share price. Its ultimate impact depends on future vesting, continued employment, and whether the options become exercisable in-the-money.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bruce Theresa Margaret Ms

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Grant/Award	Options	132,600,130	$0.00	--

Holdings After Transaction: Options — 132,600,130 shares (Direct)

Footnotes (1)

1. The ordinary shares, nominal value 0.0004 Pounds Sterling per share (the "Ordinary Shares"), of NuCana plc (the "Company") underlying this option have an exercise price of 0.0004 Pounds Sterling. The shares underlying this option vested as to 50% on April 15, 2026, with the remainder to vest in four equal annual installments thereafter, subject to the Reporting Person's continued service with the Company through the applicable vesting date.

Key Figures

Options granted: 132,600,130 options Exercise price: 0.0004 Pounds Sterling/share Underlying shares: 132,600,130 Ordinary Shares +3 more

6 metrics

Options granted 132,600,130 options Grant to COO on April 15, 2026

Exercise price 0.0004 Pounds Sterling/share Options over Ordinary Shares

Underlying shares 132,600,130 Ordinary Shares Covered by the option grant

Initial vesting 50% of underlying shares Vested on April 15, 2026

Remaining vesting period Four equal annual installments After April 15, 2026, subject to continued service

Option expiration April 15, 2036 Final date to exercise options

Key Terms

Grant, award, or other acquisition, exercise price, vesting, Ordinary Shares, +1 more

5 terms

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

exercise price financial

"underlying this option have an exercise price of 0.0004 Pounds Sterling"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vesting financial

"shares underlying this option vested as to 50% on April 15, 2026"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Ordinary Shares financial

"The ordinary shares, nominal value 0.0004 Pounds Sterling per share (the "Ordinary Shares")"

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

expiration date financial

"expiration_date: 2036-04-15T00:00:00.000Z"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

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^*

Bruce Theresa Margaret Ms

(Last) (First) (Middle)

C/O NUCANA PLC

3 LOCHSIDE WAY

(Street)

EDINBURGH UNITED KINGDOM EH12 9DT

(City) (State) (Zip)

UNITED KINGDOM

(Country)

2. Issuer Name and Ticker or Trading Symbol
NuCana plc [ NCNA ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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
Options	(1)	04/15/2026		A		132,600,130		(2)	04/15/2036	Ordinary Shares	132,600,130	$0	132,600,130	D

Explanation of Responses:

1. The ordinary shares, nominal value 0.0004 Pounds Sterling per share (the "Ordinary Shares"), of NuCana plc (the "Company") underlying this option have an exercise price of 0.0004 Pounds Sterling.

2. The shares underlying this option vested as to 50% on April 15, 2026, with the remainder to vest in four equal annual installments thereafter, subject to the Reporting Person's continued service with the Company through the applicable vesting date.

	/s/ Ian Webster, Attorney-in-Fact for Theresa Bruce	04/16/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did NuCana (NCNA) disclose about its COO’s recent equity award?

NuCana disclosed that Chief Operating Officer Theresa Margaret Bruce received options over 132,600,130 Ordinary Shares. These options form a major equity-based compensation grant, designed to align her long-term incentives with the company’s share performance over the coming decade.

How many NuCana (NCNA) shares are covered by the COO’s new options?

The new stock option grant covers 132,600,130 Ordinary Shares of NuCana. This entire amount represents options, not currently issued shares, and gives the COO the right to acquire those shares in the future if the options are exercised.

What is the exercise price of the NuCana (NCNA) COO’s stock options?

The options granted to NuCana’s COO have an exercise price of 0.0004 Pounds Sterling per Ordinary Share. This exercise price matches the nominal value of the shares and means only a minimal cash amount is required if the options are exercised.

How do the NuCana (NCNA) COO’s options vest over time?

Half of the shares underlying the COO’s options vested on April 15, 2026. The remaining 50% are scheduled to vest in four equal annual installments, provided she remains in service with NuCana through each applicable vesting date.

When do the NuCana (NCNA) COO’s new stock options expire?

The stock options granted to NuCana’s COO expire on April 15, 2036. If any portion of the options has not been exercised by that date, those unexercised options will lapse and no longer permit the purchase of Ordinary Shares.

Is the NuCana (NCNA) COO’s option grant a market purchase or sale of shares?

The Form 4 describes a grant, coded as a compensation-related acquisition of options, not a market trade. The COO did not buy or sell shares in the open market; instead, she received a large option award as part of her remuneration.