Director at Zura Bio (ZURA) awarded 37,812 share options

Rhea-AI Filing Summary

Nirula Ajay reported acquisition or exercise transactions in this Form 4 filing.

Zura Bio Ltd director Ajay Nirula reported receiving a grant of 37,812 share options. These options were awarded on February 21, 2026 and vest in twelve substantially equal monthly installments over one year starting from that date. Any remaining unvested options will vest on the day immediately before the next annual meeting of shareholders following the grant date, as long as he continues in service through each vesting date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Nirula Ajay

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Share Option (Right to Buy)	37,812	$0.00	--

Holdings After Transaction: Share Option (Right to Buy) — 37,812 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Nirula Ajay

(Last) (First) (Middle)

C/O ZURA BIO LTD

1489 W. WARM SPRINGS RD. #110

(Street)

HENDERSON NV 89014

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Zura Bio Ltd [ ZURA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/21/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Share Option (Right to Buy)	$6.53	02/21/2026		A		37,812		(1)	02/21/2036	Class A Ordinary Shares	37,812	$0	37,812	D

Explanation of Responses:

1. This option vests in twelve substantially equal monthly installments over a one-year period measured from February 21, 2026; provided, that any remaining unvested portion of the option award will vest as of the day immediately preceding the next annual meeting of shareholders following the grant date, subject to the Reporting Person's continued service as of each such vesting date.

	/s/ Kim Davis, Attorney-in-Fact	02/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Zura Bio (ZURA) report for Ajay Nirula?

Zura Bio reported that director Ajay Nirula received a grant of 37,812 share options. The award is a derivative security and increases his directly held option position to 37,812 options following the transaction, according to the Form 4 filing details.

When were the 37,812 Zura Bio options granted to director Ajay Nirula?

The 37,812 share options granted to Zura Bio director Ajay Nirula were awarded on February 21, 2026. This grant date also serves as the reference point for the one-year vesting schedule described in the accompanying Form 4 footnote.

How do Ajay Nirula’s Zura Bio options vest after the February 2026 grant?

The option grant to Ajay Nirula vests in twelve substantially equal monthly installments over a one-year period starting February 21, 2026. Vesting depends on his continued service with Zura Bio on each scheduled vesting date throughout that period.

What happens to any unvested Zura Bio options before the next annual meeting?

Any portion of Ajay Nirula’s option grant that is still unvested will vest in full on the day immediately preceding the next annual meeting of shareholders after the grant date, provided he remains in service on that accelerated vesting date.

Is Ajay Nirula’s ownership in Zura Bio options direct or indirect?

Ajay Nirula’s 37,812 Zura Bio share options are reported as directly owned. The Form 4 indicates the ownership type as direct, with no separate entity or trust listed in the nature of ownership field for this derivative award.