Ma Stephen Hoi 4

What Happened

• Ma Stephen Hoi, who serves as CFO, COO and Secretary and is a director of Scilex Holding Co (SCLX), acquired 650,000 shares on 2026-04-17. The Form 4 records the transaction as a purchase of derivative securities at $0.15 per share for a total reported cost of $99,970. This was an acquisition (purchase) rather than a sale.

Key Details

• Transaction date: 2026-04-17; filing date (Form 4): 2026-04-20 (filed within SEC’s two-business-day requirement).
• Price and size: 650,000 shares at $0.15 per share; total reported value $99,970.
• Transaction type: Purchase of derivative securities (Form 4 labels it as "Derivative"); code P = Purchase.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes/plan details: No 10b5‑1 plan, tax withholding, or other notes provided in the summary data supplied.

Context

• Purchases by insiders are generally more informative to investors than routine sales because they increase the insider’s stake; however, the Form 4 here shows a derivative purchase and does not detail the exact instrument (e.g., conversion, option exercise), so the mechanics are unclear from the filing alone. The transaction was reported timely.