Scilex Holding Co 4

What Happened
Scilex Holding Co., a 10% owner of Semnur Pharmaceuticals, Inc. (SMNR), reported a disposition on June 15, 2026: 7,034,737 shares were distributed as part of a previously announced stock dividend and recorded as disposed at $0.00 (no cash proceeds). The filing shows the dividend aggregate was 13,972,900 shares; 6,938,163 of those dividend shares are being held in abeyance for certain warrant- and note-holders and will be distributed (and reported) when warrants/notes are exercised or converted.

Key Details

• Transaction date: June 15, 2026; Form 4 filed June 26, 2026 (filed late relative to the 2-business-day Form 4 deadline).
• Transaction type/code: Other acquisition or disposition (J) — distribution of stock dividend.
• Shares distributed: 7,034,737; reported price: $0.00; total proceeds: $0.
• Aggregate dividend: 13,972,900 shares; 6,938,163 shares held in abeyance for additional participating holders (per footnote).
• Shares owned after transaction: Not specified in this Form 4.
• Future reporting: Scilex will file additional Form 4s when abeyant shares are distributed following exercise/conversion.

Context
This was a corporate stock-dividend distribution by a 10% shareholder, not an open-market sale or purchase by an executive—so it reflects a corporate action, not a trading signal by management. The abeyance note means additional distributions may be reported later as warrant/note holders convert or exercise.