Addex (ADXN) Director Raymond Hill Exercises Repriced Options

What Happened
Raymond George Hill, a director of Addex Therapeutics Ltd. (ADXN), exercised option awards following a Remuneration Committee decision on September 2, 2026. The filing reports acquisition of 1,365,532 common shares and 273,107 derivative units (reported as a separate derivative acquisition) with the strike/exercise price reduced to $0.032 per share. The Form 4 reports $0.00 amounts for the listed entries because of the plan mechanics; using the stated repriced strike ($0.032), the implied cash cost would be about $43,697 for the 1,365,532 shares and about $8,739 for the 273,107 units (≈ $52,436 total). The transactions were treated as exempt under Rule 16b-6(d) and Rule 16b-3.

Key Details

• Transaction date: September 2, 2026 (filed on Sep 4, 2026 — timely)
• Reported trades: Acquisition of 1,365,532 common shares (A) and 273,107 derivative units (A); corresponding dispositions to issuer also reported (D) as part of plan mechanics.
• Reported price in filing: $0.00 (plan reporting mechanics); repriced strike price (footnotes) = $0.032 per share (USD), conversion from CHF using rate 1.2296 CHF→USD.
• Implied cost at $0.032: ≈ $43,697 (1,365,532) + ≈ $8,739 (273,107) ≈ $52,436 total (illustrative).
• Footnotes: Shares represent exercises under a deferred strike-price payment plan (some units originally issued Oct 26, 2022 and Nov 27, 2023); strike prices were reduced to $0.032 on Sep 2, 2026; transactions exempt under Rule 16b-6(d) and Rule 16b-3.
• Shares owned after transaction: Not specified in the provided filing excerpt.

Context

• These entries reflect option exercise/repricing and plan mechanics (including deferred strike-price payment terms), not an open-market purchase or sale.
• The Form 4 shows $0 amounts because of internal payment/reclassification treatment; the footnotes provide the effective strike used to quantify the exercise.
• This is routine insider option exercise/repricing activity and, per the filing, was processed under applicable exemptions — factual reporting, not a statement of personal trading intent.