Company: IMCR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001671927-25-000014
Chunk: 27

Company: Immunocore Holdings plc
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 27
---
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 - $70.05Exercise price$28.63 - $29.06$46.05 - $62.94$28.63 - $29.60$46.05 - $70.05Expected volatility52.92%  - 53.65%55.24% - 57.04%52.92% - 55.78%55.24% - 66.17%Expected life5.5 years5.5 years5.5 years5 years - 5.5 yearsRisk free rate3.94% - 4.12%4.34% - 4.56%3.94% - 4.41%3.93% - 4.56%Fair value$15.11 - $15.27$25.23 - $34.99$15.11 - $16.21$25.23 - $40.47Restricted share unit activityIn February 2025, the Company granted RSU awards that vest over a four-year service period with 25% on each anniversary of the grant date. An RSU award represents the right to receive one