Centessa Pharmaceuticals Director's Share Options Cancelled in Eli Lilly Acquisition

This Form 4 filing reports the cancellation of share options held by Centessa Pharmaceuticals director Samarth Kulkarni following the company's acquisition by Eli Lilly. On June 24, 2026, Eli Lilly acquired all outstanding shares of Centessa Pharmaceuticals through a scheme of arrangement. As part of the transaction, all outstanding share options were automatically cancelled and converted into cash payments and contingent value rights. Kulkarni's options, totaling 392,474 shares across five different grants with exercise prices ranging from $4.87 to $12.43, were disposed of in the transaction. The options were converted into cash equal to the difference between $38.00 per share and their exercise prices, plus contingent value rights for potential additional payments up to $9.00 per share based on milestone achievements. This filing documents the disposition of these derivative securities as a result of the change in control transaction.