Theresa Lowry - Mar 20, 2023 Form 3 Insider Report for Zura Bio Ltd (ZURA)

Signature
/s/ Theresa Lowry
Stock symbol
ZURA
Transactions as of
Mar 20, 2023
Transactions value $
$0
Form type
3
Date filed
3/21/2023, 07:35 PM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding ZURA Employee Share Option (Right to Buy) Mar 20, 2023 Class A Ordinary Shares 159K $1.20 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person was granted the option on March 15, 2023. 25% of the shares underlying the option vest one year after the grant date, then the remaining shares vest in monthly installments of 2.083% thereafter starting on the last day of the following full month until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.
F2 In connection with the closing of the business combination between the Issuer and Zura Bio Limited, a company incorporated under the laws of England and Wales ("Zura"), among other things, each ordinary share of Zura was exchanged pursuant to the terms of the Business Combination Agreement (including the corporate restructuring of Zura contemplated therein) into Class A Ordinary Shares of the Issuer (the exchange ratio used for such exchange is hereinafter referred to as the "Exchange Ratio"). In addition, each outstanding Zura equity award was automatically converted into a corresponding equity award of the Issuer based on the Exchange Ratio and with the same terms and vesting conditions as the Zura equity awards.