PepGen Inc. — Director's Dealing 2025

Dec 18, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PepGen Inc. (PEPG)
CIK: 0001835597
Period of Report: 2025-11-04

Reporting Person: STRECK PAUL (EVP, Head of R&D)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-11-04	Stock Option (Right to Buy)	$9.83	D	202816	Disposed	2034-08-18	Common Stock (202816)	Direct
2025-11-04	Stock Option (Right to Buy)	$4.53	A	202816	Acquired	2034-08-18	Common Stock (202816)	Direct
2025-11-04	Stock Option (Right to Buy)	$9.83	D	40000	Disposed	2034-08-18	Common Stock (40000)	Direct
2025-11-04	Stock Option (Right to Buy)	$4.53	A	40000	Acquired	2034-08-18	Common Stock (40000)	Direct

Footnotes

F1: On November 4, 2025, the Issuer's Board of Directors approved a repricing of the Reporting Person's outstanding stock options granted under the Issuer's 2020 Stock Plan, 2022 Stock Option and Incentive Plan, and 2024 Inducement Plan. The exercise price of eligible options was reduced to $4.53, with all other terms unchanged except that the reduced exercise price is available only if the Reporting Person satisfies the applicable retention period; otherwise, the original exercise price will apply. The transactions reported herein are exempt pursuant to Rules 16b-6(d) and 16b-3 under the Securities Exchange Act of 1934.

F2: This option shall vest as follows: twenty-five percent (25%) on the one-year anniversary of the Grant Date and the remainder vesting in thirty-six (36) equal monthly installments, subject to the option recipient's continued service or employment with the Company on each applicable vesting date.