RALLIS CHRIS A 4

What Happened
Chris Rallis, a director of Fennec Pharmaceuticals (FENC), was granted a non‑qualified stock option to purchase 20,000 common shares at an exercise price of $8.70 per share on June 10, 2026. The Form 4 reports the derivative acquisition with a reported value of $174,000. This was an award/grant (transaction code A), not an open‑market purchase or sale.

Key Details

• Transaction date: June 10, 2026; filing date: June 10, 2026 (filed same day).
• Grant: non‑qualified stock option for 20,000 shares at $8.70/exercise share; reported aggregate value $174,000.
• Vesting: option is 100% vested on grant (per footnote).
• Plan: granted pursuant to the issuer’s Equity Incentive Plan (per footnote).
• Shares owned after transaction: not reported in the Form 4 filing.
• Transaction type: derivative grant (A = Award/Grant); no exercise or sale reported.

Context
A non‑qualified stock option is the right to buy shares at the stated exercise price; because this grant is fully vested on the grant date, Rallis can exercise immediately if he chooses, though the Form 4 does not show any exercise or share sale. Director option grants are a common form of compensation and do not, by themselves, indicate a purchase of shares on the open market or an immediate change in share ownership.