Share Option Awards to Management Team at Avacta
Avacta Group plc announced the grant of share options under its Equity Share Option Scheme to its management team on August 28, 2026, with an exercise price of 69 pence per share. Chief Executive Officer Christina Coughlin received 13,400,000 options, Chief Financial Officer Brian Hahn received 2,000,000 options, and other management team members received a total of 3,750,000 options. A portion of Ms. Coughlin's options are subject to performance-based vesting conditions, and her notice period has been extended to 12 months. These option grants are intended to retain key personnel and align their interests with shareholders, particularly as the company advances its oncology drug pipeline.
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LONDON and PHILADELPHIA - September 1, 2026 - Avacta (AIM: AVCT), a life sciences company developing innovative, targeted oncology drugs, announces that, on 28 August 2026, the Board of Directors granted share options under the Company's Equity Share Option Scheme incentive plan ("ESOS") to all members of the Management Team (the "Options"). The Options are exercisable at an exercise price of 69 pence per share, being the mid-market closing price of the Company's Ordinary Shares on 27 August 2026, the last trading date before the Options were granted.
Christina Coughlin, Chief Executive Officer, has been granted 13,400,000 Options, Brian Hahn, Chief Financial Officer and Company Secretary, has been granted 2,000,000 Options and the remaining members of the Management Team have been granted 3,750,000 Options in total.
In structuring the Option grants, advice was taken from a third-party consultant, the Talent Solutions team at Aon. The Options granted to Brian Hahn and management team members vest over four years (as do half of the Options granted to Christina Coughlin) according to the standard schedule described in the Avacta Equity Incentive Plan as set out in Appendix 1 to this announcement. The vesting of the additional half of the Options granted to Christina Coughlin is subject to certain performance-based achievements summarized in Appendix 1. All Options are subject to customary good leaver / bad leaver provisions pursuant to the terms of the ESOS. In addition, the Board and Dr. Coughlin have agreed to extend her notice period to 12 months.
Richard Hughes, Chairman of the Board of Directors of Avacta commented,
| "AVA6103 moving into clinic was a pivotal step for Avacta. Not only did it mark the Company's second pre | CISION drug in human trials, this was also the first demonstration of our proprietary controlled release technology in the clinic. The speed and diligence with which the program has moved is demonstrative of Chris and her team's commitment to our pipeline. |
"When I became Chairman three months ago, I said my core aim was to extract the maximum value from our intellectual property for shareholders. The pioneers of our intellectual property therefore need to be retained. This is especially important as the value of our assets increases, as our multiple data sets continue to mature in humans.
"The granting of options at the prevailing market price enables this retention as the options only have value to the extent that the value of Avacta increases, thereby locking in the key individuals who are critical to the future of Avacta and aligns their interests with all shareholders.
"As part of this package it has been mutually agreed that Chris will extend her notice period to 12 months."
The issue of Options to Christina Coughlin constitutes a related party transaction under Rule 13 of the AIM Rules for Companies.
The independent directors of the Company (being Richard Hughes, Patrick Vink, Paul Fry, Mark Goldberg and David Bryant) consider that the terms of the grant of Options to Dr. Coughlin are fair and reasonable insofar as the Company's shareholders are concerned.
About FAP-Exd (AVA6103)
Appendix 1: Terms of Vesting
Christina Coughlin, CEO
Time-based vesting
| Number of Options | Exercise Price | Vesting Date | Vesting Condition(s) | Expiry Date |
| 1,675,000 | 69 pence per share | 28 August 2027 | Continued service | 28 August 2036 |
| 1,675,000 | 69 pence per share | 28 August 2028 | Continued service | 28 August 2036 |
| 1,675,000 | 69 pence per share | 28 August 2029 | Continued service | 28 August 2036 |
| 1,675,000 | 69 pence per share | 28 August 2030 | Continued service | 28 August 2036 |
| 2. Performance-based vesting | ||||
| Number of Options | Exercise Price | Vesting Condition(s) | Expiry Date | |
| 2,233,333 | 69 pence per share | Phase 1 data presentation, AVA6103 | 28 August 2036 | |
| 2,233,333 | 69 pence per share | Next Investigational New Drug (IND) filed | 28 August 2036 | |
| 2,233,334 | 69 pence per share | Clinical candidate selection, Next Gen asset | 28 August 2036 | |
Brian Hahn, Chief Financial Officer and Company Secretary of Avacta
| Number of Options | Exercise Price | Vesting Date | Vesting Condition(s) | Expiry Date |
| 500,000 | 69 pence per share | 28 August 2027 | Continued service | 28 August 2036 |
| 500,000 | 69 pence per share | 28 August 2028 | Continued service | 28 August 2036 |
| 500,000 | 69 pence per share | 28 August 2029 | Continued service | 28 August 2036 |
| 500,000 | 69 pence per share | 28 August 2030 | Continued service | 28 August 2036 |
| Appendix 2: PDMR Notifications for the new options | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||
| a) | Name | i- Christina Coughlin ii- Brian Hahn | ||
| 2 | Reason for the notification | |||
| a) | Position/status | I- Chief Executive Officer II- Chief Financial Officer and Company Secretary | ||
| b) | Initial notification /Amendment | Initial notification | ||
| a) | Name | Avacta Group Plc | ||
| b) | LEI | 2138009U3EG31OPMGH36 | ||
| a) | Description of the financial instrument, type of instrument Identification code | Options over Ordinary Shares of 10p each in the Company GB00BYYW9G87 | ||
| b) | Nature of the transaction | Grant of Options to acquire Ordinary Shares | ||
| c) | Price(s) and volume(s) | Grant of Options: Price Volume(s) i 69p 13,400,000 ii 69p 2,000,000 | ||
| d) | Aggregated information - Aggregated volume - Price - Total Value | N/A (Single Transaction) | ||
| e) | Date of the transaction | 28 August 2026 | ||
| f) | Place of the transaction | Outside a trading venue | ||
| Appendix 3: Directors'/PDMRs total Options after this new award: | ||||
| Director / PDMR | Total Number of Options | % of issued share capital | ||
| Christina Coughlin | 17,000,000 | 3.61% | ||
| Brian Hahn | 4,100,000 | 0.87% | ||
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