Giordano Christopher Thomas 4

What Happened
Christopher Thomas Giordano, CEO and Director of Tenax Therapeutics (TENX), exercised stock options on July 13, 2026, acquiring a total of 8,719 shares of common stock. He paid $3.55 for 219 shares ($777) and $5.94 for 8,500 shares ($50,490), for a combined cash outlay of $51,267. The filing also shows corresponding disposition entries for the derivative instruments at $0, reflecting conversion/surrender of the options upon exercise (transaction code M = option exercise).

Key Details

• Transaction date: July 13, 2026; Form 4 filed July 14, 2026 (appears timely).
• Acquisitions: 219 shares @ $3.55 ($777) and 8,500 shares @ $5.94 ($50,490); total 8,719 shares, $51,267 paid in cash. (Code M = option exercise.)
• Dispositions: 219 and 8,500 derivative units reported disposed at $0 — standard reporting when options are converted into shares.
• Footnotes: F1 confirms the aggregate exercise price was paid in cash. F2–F6 describe various vesting schedules for the options (25% cliff then monthly vesting in some grants; some grants already vested in prior years).
• Shares owned after the transaction: not provided in the supplied data.
• No 10b5-1 plan, sale, or tax-withholding entry listed in the provided items.

Context

• This was an exercise of options (not an open-market purchase or sale). The filing indicates the options were exercised and converted into shares rather than immediately sold (no sale reported).
• Reporting of the derivative disposal at $0 is common and simply shows the option instruments were surrendered upon exercise.
• Insider option exercises are routine but represent an acquisition of shares; investors often view purchases/exercises as more informative than routine sales, though this filing alone doesn't indicate the insider's future intentions.