GANNON STEVEN 4

What Happened

• Steven Gannon, a director of Xenon Pharmaceuticals (XENE), exercised stock options on May 12, 2026. The filing shows an acquisition of 3,500 shares at an exercise price of $7.38 per share, totaling $25,830. The same filing also records a simultaneous derivative disposition of 3,500 shares at $0; the filing does not explain the disposition.

Key Details

• Transaction date: 2026-05-12; filing date: 2026-05-13 (timely).
• Acquired: 3,500 shares at $7.38 each (total $25,830).
• Disposed (derivative line): 3,500 shares at $0 (derivative entry).
• Shares owned after the transaction: not disclosed in the provided excerpt of the filing.
• Footnote: F1 states the option shares were fully vested and exercisable.
• No 10b5-1 plan, tax-withholding or late-filing flags are indicated in the excerpt.

Context

• This was an options exercise (transaction code M). The filing does not report any open-market sale of the newly acquired shares; the simultaneous $0 derivative disposition in the filing is not explained and may reflect internal withholding or administrative reporting, but the document itself gives no reason. As always, exercises are routine insider activity and do not by themselves indicate the director's market view.