Addex (ADXN) Director Isaac Manke Exercises/Reprices Options

What Happened

• Isaac Manke, a director of Addex Therapeutics (ADXN), had option-related transactions recorded on Sep 2, 2026. The filing shows an acquisition of 219,561 common shares and 50,000 derivative units; reported cash consideration for the reported entries is $0.00. Footnotes state these shares were acquired following exercise of options and that the exercise/strike price for the units was reduced to $0.032 per share (USD conversion from CHF using a rate of 1.2296).
• The 219,561 shares derive from earlier deferred strike-price payment arrangements (128,238 from Oct 26, 2022; 91,323 from Nov 27, 2023). The 50,000 units reflect option/derivative instruments that were repriced as well. The repricing and related transactions were reported as exempt under Rule 16b-6(d) and Rule 16b-3.

Key Details

• Transaction date: September 2, 2026; Form 4 filed September 4, 2026 (no late filing indicated).
• Reported consideration on Form 4: $0.00; footnote strike/exercise price after committee action: $0.032 per share (USD), conversion rate 1.2296 CHF→USD noted.
• Shares involved: 219,561 common shares acquired following option exercises; 50,000 derivative units repriced/affected.
• Shares owned after the transaction: not specified in the supplied filing data.
• Notable footnotes: (1) details about original grant dates and deferred strike payment plan; (2) confirmation that options were repriced to $0.032; (3) currency conversion note. Transactions claimed exempt under Rules 16b-6(d) and 16b-3.

Context

• This was an option exercise/repricing event and not an open-market purchase or sale. The filing does not indicate any immediate sale of the acquired shares (no cashless sale shown).
• Reported $0 consideration and the footnotes indicate a corporate/compensation adjustment (repricing/implementation of the Remuneration Committee decision) rather than a routine market trade.