Addex (ADXN) Director Lawton Exercises Options, Acquires 3.01M Shares

What Happened

• Director Lawton Vincent Michael exercised options and acquired 2,507,487 common shares of Addex Therapeutics and 501,598 derivative units on September 2, 2026. The Form 4 reports the transactions as acquisitions/dispositions to the issuer at $0.00, but footnotes disclose the options were repriced to a strike price of $0.032 per share (conversion from CHF to USD). Based on that strike price, the economic cost would be approximately $80,240 for the common shares and $16,051 for the derivative units (total ≈ $96,291), though the filing shows $0 due to the reporting treatment and exemptions.

Key Details

• Transaction date: September 2, 2026; Form 4 filed September 4, 2026 (appears timely under Section 16 rules).
• Share counts and prices: 2,507,487 common shares and 501,598 derivative units; repriced strike = $0.032/share (USD conversion at $1.2296/CHF).
• Reported cash value on Form 4: $0.00 for these line items; footnotes explain the repricing and exemption treatment.
• Notable footnotes: F1–F3 explain these shares were acquired following option exercises, some originally granted under a deferred strike payment plan (2022 & 2023), the Remuneration Committee reduced strike prices to $0.032 on Sept 2, 2026, and transactions were exempt under Rule 16b-6(d) and Rule 16b-3. Strike prices shown reflect CHF→USD conversion.
• Shares owned after the transaction: not specified in the supplied excerpt — check the full Form 4 for post-transaction beneficial ownership.

Context

• This was an option exercise/repricing event, not an open-market buy or sale. The filing shows acquisitions and corresponding dispositions to the issuer due to the mechanics of the exercise/reprice and applicable exemptions. For retail investors, option exercises with a director buying shares can be a positive signal of alignment, but this filing primarily documents executive compensation adjustments (repricing) rather than an open-market portfolio purchase.