Company: NCNA
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042709
Chunk: 212

Company: NuCana plc
Filing Date: 2025-03-20
Form: 20-F
Item: Item 6
Chunk 212
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 such adjustments to the number and exercise price of shares subject to each option or the option price as our board of directors considers appropriate in accordance with the rules of the 2020 LTIP.
Transferability. No options under the 2020 LTIP may be transferred, assigned or have any charge created over them and will lapse immediately upon an attempt to do so.
Amendment. Our board of directors may amend the 2020 LTIP, provided that any amendment shall not, without the consent of an option holder, materially increase his or her liabilities or materially decrease the value of his or her subsisting rights under an outstanding option.
 Any amendment to the scheme shall take effect without the requirement for the prior approval of our shareholders, except as otherwise required by applicable laws or the rules of any securities exchange on which our securities are listed.
 2020 Company Share Option Plan (2020 CSOP)
 On June 25, 2020, we adopted a share option plan, or the 2020 CSOP. The CSOP is an option scheme that provides for the grant of options under a Company Share Option Plan in accordance with Schedule 4 of the Income Tax (Earnings and Pensions) Act 2003 which affords some tax advantages to the option holder. Grants under the CSOP would only be applicable to U.K. taxpayers. As of December 31, 2024, we have not granted any options under the 2020 CSOP.
 Key points:
 •CSOP options must only be granted to full-time directors or employees;
 •each recipient can receive options to buy company shares worth up to £60,000 (as valued (ignoring any restrictions) at the date of grant or such earlier agreed time);
 •on grant of the CSOP option, there is generally no liability to income tax or NICs (employee’s and employer’s) unless the exercise price (together with any grant price) is less than the market value of the shares at the date of grant;
 •no income tax or NICs will be payable on the exercise of a tax advantaged CSOP option if the CSOP option is exercised whilst the scheme is still a tax advantaged scheme and the option is exercised;
 oon or before the tenth anniversary of the date of grant of the option, and either;
 oon or after the third anniversary of the date of grant; or
 opursuant to the terms of the CSOP, prior to the third anniversary of the date of grant and, broadly, within six months of certain