Addex (ADXN) Head Mikhail Kalinichev Exercises Options, Acquires Shares

What Happened

• Mikhail Kalinichev, Head of Translational Science at Addex Therapeutics (ADXN), acquired 306,765 common shares on Sept 2, 2026 following the exercise of options. The filing also records adjustments for 200,000 option units (derivative) that were repriced.
• The Remuneration Committee reduced the strike/exercise price of the affected units to $0.032 per share (USD). At that price the 306,765 shares correspond to a cash cost of about $9,816.48 and the 200,000 repriced options would imply $6,400 if exercised — however the Form 4 reports $0 consideration for these entries and shows the transactions as exempt under Rule 16b-6(d) and Rule 16b-3.

Key Details

• Transaction date: September 2, 2026; Form 4 filed Sept 4, 2026 (timely — two business days after the transactions).
• Reported transactions:
  • 306,765 common shares — shown as a disposition to issuer and a simultaneous acquisition (exercised options / issuance of shares).
  • 200,000 derivative units — shown as disposition and re-grant/adjustment (options repriced).
• Price: repriced exercise/strike = $0.032 per share (USD), conversion from CHF used rate $1.2296/CHF.
• Shares owned after the transaction: not specified in the supplied filing data.
• Footnotes: transactions exempt under Rule 16b-6(d) and Rule 16b-3; strike prices reflect CHF→USD conversion; other terms of plans/options unchanged.

Context

• This filing reflects option exercise and a committee-approved repricing, not an open-market sale. No immediate sale of the acquired shares is reported in this filing.
• Repricings and option exercises can be routine compensation or retention actions; the filing is factual and exempt under specified Rule 16 provisions. This is not a gift or a 10% owner transaction.