Aug. 18 at 10:29 PM
$LEGN they had 26 million ordinary shares of original pool, but that has been heavily utilized over time. Only 5,257,658 ordinary shares remained unallotted and available for future grants. The proposal simply seeks approval to add 19.1 million shares to the total "reserve" or "pool" of available equity, raising the plan's maximum limit from 26 million to 45 million shares. The filing notes that just because the 19.1 million shares are conditionally authorized for the reserve, it does not guarantee that all the awards will be granted or that all shares will ultimately be issued. Neither the 19.1 million shares will not be granted next month, nor is it guaranteed that all of them will be granted over the next two to four years.
