Company: IMCR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001671927-25-000014
Chunk: 64

Company: Immunocore Holdings plc
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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 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 June 30, 2025, the Company has reserved 6,139,943 authorized shares for future issuance under the EIP. 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 granted1,739,30529.50 Awards exercised(307,208)20.26 Awards forfeited (49,041)45.70 Awards expired(65,282)25.53 Outstanding as of June 30, 202510,740,649$31.14 6.3 years$63,484 Exercisable as of June 30, 20257,833,332$27.51 5.3 years$59,041 As of June 30, 2025, total unrecognized compensation expense related to share options granted but not vested was $31.8 million, which the Company expects to recognize over a remaining weighted-average period of 1.7 years. Awards granted in the three and six months ended June 30, 2025 and 2024 have been valued using the Black-Scholes option pricing model. The assumptions used in the models for share options granted were as follows: Three Months Ended June 30,Six Months Ended June 30,2025202420252024Share price at grant date$28.63 - $29.06$46.05 - $62.94  $28.63 - $29.60$46.05 - $70.