Company: NCNA
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042709
Chunk: 210

Company: NuCana plc
Filing Date: 2025-03-20
Form: 20-F
Item: Item 6
Chunk 210
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 satisfied.
 As of December 31, 2024, we had granted to directors, employees and consultants, 14,066,421 Regular options and 1,246,287 RSU-style options to purchase ordinary shares under the 2020 LTIP. Options to purchase 209,712 had been exercised at December 31, 2023, and a further 165,836 were exercised in 2024. Of the remaining options granted under this scheme, 4,595,399 had vested at December 31, 2024, 2,485,377 had been forfeited or cancelled, and the remaining 7,856,384 are unvested.
 Class of Share. An option granted under the 2020 LTIP entitles the option holder, subject to the satisfaction, waiver or acceleration of specific exercise conditions, to subscribe for ordinary shares.
Cash Alternative. An option granted under the 2020 LTIP may be settled in cash as an alternative to the right to subscribe for ordinary shares. The decision to settle in cash is reserved for the Remuneration Committee to determine.
 Exercise Conditions. Options granted under our 2020 LTIP may be granted subject to vesting schedules, performance targets or other conditions which must be satisfied or waived before exercise. Exercise conditions may be removed or varied by our board of directors, provided that any variation shall be (in the reasonable opinion of our board of directors) no more difficult to satisfy than the original exercise condition.
 Each option grant is documented through an option agreement. Most of the option agreements entered into under the 2020 LTIP provide that all unvested options shall immediately vest if, following one of the Takeover and Corporate Events listed below, the option holder (i) remains an eligible employee for the purpose of the plan; and (ii) has experienced a material reduction in base compensation that was payable as of the date of grant or has otherwise experienced a material change or reduction in authority, duties, reporting or responsibilities.
Leaver Provisions. If an option holder ceases to be an employee, director or consultant of the company or a subsidiary for a variety of specified reasons (including ill health, retirement, sale of a subsidiary company or part of the business to a third party, or if his employment/directorship ceases for any reason apart from summary dismissal from fraud or gross misconduct) then the option holder may exercise his options during the 12 months after the date of such cessation of employment/directorship only to the extent that any exercise conditions