Company: IMCR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001671927-25-000018
Chunk: 61

Company: Immunocore Holdings plc
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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740 $22,692 $19,552 Equity Incentive PlanUnder the Company’s Equity Incentive Plan ("EIP"), the Company may grant market value options, share appreciation rights or restricted shares, restricted share units ("RSUs"), performance share units and other share-based awards to the Company’s employees. The Company’s board members and consultants are eligible to receive awards under the Company’s non-employee sub-plan to the EIP. Awards may be granted at such times as the Company may determine, but will generally be granted annually following the end of the financial year. Awards vest at such times and as specified in the award agreement, typically being over a four-year period, although the Company retains the discretion to provide for other vesting schedules. If the participant violates the non-competition, non-solicitation, confidentiality or other similar restrictive covenant provisions of any employment contract, the right of the participant to receive these shares on vesting shall terminate immediately. The Company maintains discretion over the type and terms of equity awards granted. Share options lapse on the tenth anniversary from the date of grant, and they are not subject to performance conditions or entitled to dividends. As of September 30, 2025, the Company has reserved 6,137,907 authorized shares for future issuance under the EIP. 

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Share option activityThe number and weighted average exercise prices of share options were as follows:Number of  Share OptionsWeighted Average Exercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic Value (in thousands)Outstanding as of December 31, 20249,422,875$31.14 6.0 years$50,455 Awards granted1,767,80029.56 Awards exercised(465,139)19.73 Awards forfeited (70,471)42.79 Awards expired(82,270)44.61 Outstanding as of September 30, 202510,572,795$31.20 6.1 years$103,826 Exercisable as of September 30, 20257,839,976$27.98 5.2 years$90,487 As of September 30, 2025, total unrecognized compensation expense related to share options granted but not vested was $25.3 million, which the Company expects to recognize over a remaining weighted-average period of 1.6 years. Awards granted in the three and nine months ended September 30, 2025