TC Biopharm : Management Change/Compensation - Form 8-K

Item 5.02 Departure of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On February 29, 2024, the Renumeration Committee of the Board of Directors of TC Biopharm (Holdings) PLC (the "Company") approved a grant of options to purchase american depositary shares (the "ADSs") to the Company's executive officers and non-employee directors under the Company's 2021 Shares Option Scheme (the "Plan") and agreed to cancel all shares options previously issued to such persons. For a more detailed description of the Plan, see "Equity Compensation Plans" under Item 6B of the Company's Annual Report on 20-F for the fiscal year ended December 31, 2022 filed with the Securities and Exchange Commission.

Each non-employee director received an option to purchase 41,760 ADSs, or ADSs representing 835,200 ordinary shares, par value £0.0001 per share (the "Ordinary Shares") at an exercise price of $1.09 per ADS, which is equal to the closing price of the Company's ADSs on the Nasdaq Capital Market on January 31, 2024. Martin Thorp, the Company's chief financial officer, received an option to purchase 177,122 ADSs, or ADSs representing 3,542,440 Ordinary Shares at an exercise price of $1.09 per ADS, which is equal to the closing price of the Company's ADSs on the Nasdaq Capital Market on January 31, 2024. Bryan Kobel, the Company's chief executive officer received an option to purchase 381,606 ADSs, or ADSs representing 7,632,120 Ordinary Shares at an exercise price of $1.09 per ADS, which is equal to the closing price of the Company's ADSs on the Nasdaq Capital Market on January 31, 2024. All share options that were issued vest immediately upon issuance.