Claire Poll - 03 Aug 2023 Form 4 Insider Report for Verona Pharma plc (VRNA)

Role: General Counsel
Signature: /s/ Claire Poll
Issuer symbol: VRNA
Transactions as of: 03 Aug 2023
Net transactions value: -$121,914
Form type: 4
Filing time: 07 Aug 2023, 21:15:52 UTC
Previous filing: 03 Aug 2023
Next filing: 24 Oct 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VRNA	Ordinary Shares	Sale	$52,324	-20,608	-1.1%	$2.54^*	1,935,231	03 Aug 2023	Direct	F1, F2, F3
transaction	VRNA	Ordinary Shares	Sale	$65,859	-26,352	-1.4%	$2.50^*	1,908,879	04 Aug 2023	Direct	F1, F2, F3
transaction	VRNA	Ordinary Shares	Sale	$3,731	-1,512	-0.08%	$2.47^*	1,907,367	07 Aug 2023	Direct	F1, F2, F3
transaction	VRNA	Ordinary Shares	Gift	$0	-89,976	-4.7%	$0.000000	1,817,391	07 Aug 2023	Direct	F1, F4
transaction	VRNA	Ordinary Shares	Gift	$0	+89,976	+12%	$0.000000	864,232	07 Aug 2023	By Trust	F1, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	Reported securities are represented by American Depositary Shares ("ADSs"), each of which represents eight (8) Ordinary Shares of the Issuer.
F2	The sales reported in the Form 4 were effected pursuant to a Rule 10b5-1 instruction entered into on May 14, 2021 solely with the intent to cover taxes in connection with the vesting of certain previously reported Restricted Share Units.
F3	The price reported represents the sale price of the ADSs divided by eight (8).
F4	Consists of (i) 1,471,672 Ordinary Shares underlying RSUs (which are represented by 183,959 ADSs); (ii) 345,712 Ordinary Shares underlying 43,214 ADSs and (iii) 7 Ordinary Shares.
F5	Held by a family trust of which (a) the Reporting Person and spouse are trustees and (b) the Reporting Person and members of her immediate family are the sole beneficiaries of the trust.