Company: IMCR
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001140361-25-010035
Chunk: 92

Company: Immunocore Holdings plc
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 92
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 adopted pursuant to the Dodd-Frank Act, we are required to calculate and disclose the total compensation paid to our median paid employee, as well as the ratio of the total compensation paid to the median employee as compared to the total compensation paid to our Chief Executive Officer (the “CEO Pay Ratio”). Our median employee’s compensation in 2024 as calculated using Summary Compensation Table requirements was $107,990. Our Chief Executive Officer's compensation in 2024 as reported in the Summary Compensation Table was $12,852,234. Therefore, our CEO Pay Ratio for 2024 is approximately 119:1. For purposes of our CEO Pay Ratio calculation, we determined that there were no changes to our employee population or to our employee compensation arrangements that we believe would significantly impact the pay ratio disclosure, allowing us to use the same median employee identified in our fiscal year 2023 proxy statement. However, as the originally identified median employee has left the Company, we have substituted another employee whose compensation is substantially similar to the original median employee. The pay ratio calculation incorporates all of the Company’s 493 employees, of which 338 were based in the United Kingdom. Methodology and Pay Ratio As disclosed in the fiscal year 2023 proxy statement, we identified the median employee using our employee population on December 31, 2023 (including, as applicable, all employees, whether employed on a full-time, part-time, seasonal or temporary basis). Under the relevant rules, we are required to identify the median employee by use of a “consistently applied compensation measure” (“CACM”). We chose a CACM that closely approximates the annual target total compensation of our employees. Specifically, we identified the median employee by aggregating, for each employee as of December 31, 2023: (1) annual base pay, (2) annual target cash incentive opportunity, and (3) the grant date fair value for equity awards granted in 2023. In identifying the median employee, we converted compensation amounts paid to foreign currencies based on the applicable year-to-date average exchange rate as of December 31, 2023, and annualized the compensation values of individuals that joined our Company during 2023. After applying our CACM methodology, we identified the median employee. Once the median employee was identified, we calculated the median employee's annual target total direct compensation in accordance with the requirements of the Summary Compensation Table. This information is being provided for compliance purposes and is a reasonable estimate calculated in a manner consistent with the SEC