Grant of options and PDMR dealing
Arecor Therapeutics plc announced the grant of 455,000 Long Term Incentive Plan options over new ordinary shares at an exercise price of £0.01 each. These options were awarded to key personnel, including the CEO, CFO, CSO, and CDO, with vesting contingent on continued service and performance conditions over a three-year period, including outperformance against the FTSE AIM All Share index. The grant date was 20 May 2026, and the options are exercisable from after the three-year performance period until the tenth anniversary of the grant date, subject to a one-year holding period post-vesting.
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Cambridge, UK, 21 May 2026: Arecor Therapeutics plc (AIM: AREC), a clinical stage biotech company developing superior therapeutics that can reduce treatment burden and improve outcomes for people living with diabetes, obesity and other cardiometabolic diseases, announces that on 20 May 2026 (the "Grant Date") the Company granted a total of 455,000 options under the Company's Long Term Incentive Plan ("LTIP Options") over new ordinary shares of 1 pence each in the Company ("Ordinary Shares").
Details of options granted to PDMRs are included in the table below.
| Name of individual | Job title | Number of LTIP Options granted under 2026 award | Price (£) |
|---|---|---|---|
| Sarah Howell | Chief Executive Officer | 160,000 | 0.01 |
| David Ellam | Chief Financial Officer | 105,000 | 0.01 |
| Jan Jezek | Chief Scientific Officer | 95,000 | 0.01 |
| David Gerring | Chief Development Officer | 95,000 | 0.01 |
The LTIP Options have an exercise price of 1 pence. Performance conditions include both time (30% of the options granted) and Share Price Outperformance* (70% of the options granted) during the three-year performance period. The LTIP Options are subject to continued service and the extent to which the performance conditions are satisfied. Vesting does not occur until the end of the three-year performance period. Vested LTIP Options will normally be exercisable from after the end of the three-year performance period and until the tenth anniversary of the Grant Date, after which time they will lapse if not exercised. They are subject to a condition that the LTIP Options or the Ordinary Shares acquired on exercise of the LTIP Options (other than those sold to cover tax and National Insurance) are held for a minimum one-year period from vesting.
*Outperformance when compared to the FTSE AIM All Share index.
About AT278
Details of the person discharging managerial responsibilities/person closely associated
| a) | Name: | 1. Sarah Howell 2. David Ellam 3. Jan Jezek 4. David Gerring |
| 2. | Reason for the notification | |
| a) | Position/status: | 1. Chief Executive Officer and Executive Director 2. Chief Financial Officer and Executive Director 3. Chief Scientific Officer 4. Chief Development Officer |
| b) | Initial notification/Amendment: | Initial notification |
| a) | Name: | Arecor Therapeutics plc |
| b) | LEI: | 98450093D12I3A8DDD58 |
| a) | Description of the financial instrument, type of instrument: Identification code: | Ordinary shares of 1 pence each GB00BMWLM973 |
| b) | Nature of the transaction: | Grant of awards over Ordinary Shares under the Company's Long Term Incentive Plan. |
| c) | Price(s) and volume(s): | 2026 LTIP Award Exercise Price(s) (£) Volume(s) 1. £0.01 2. £0.01 3. £0.01 4. £0.01 160,000 105,000 95,000 95,000 |
| d) | Aggregated information: · Aggregated volume: · Price: | 455,000 £0.01 |
| e) | Date of the transaction: | 20 May 2026 |
| f) | Place of the transaction: | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.