Estrella (ESLA) CFO Xu Jiandong Exercises 100,000 Options

What Happened

• Xu Jiandong, Chief Financial Officer of Estrella Immunopharma (ESLA), exercised 100,000 stock options on August 18, 2026. He paid $0.81 per share for a total cash outlay of $81,500 and received 100,000 common shares. The filing also reports the corresponding derivative/security (the options) being disposed of as part of the exercise.

Key Details

• Transaction date: 2026-08-18. Transaction code: M (option exercise).
• Exercise price: $0.81 per share. Cash paid: $81,500 for 100,000 shares.
• Shares acquired: 100,000 common shares. Shares owned after transaction: 365,488 (265,488 prior + 100,000 acquired) [see footnote].
• Footnotes: Options were granted Oct 30, 2024 under the 2023 Omnibus Incentive Plan; 25% were immediately exercisable and the exercised shares were vested. The reported disposition reflects cancellation/conversion of the derivative upon exercise. No separate consideration was paid or received for the derivative security.
• Filing timeliness: Report filed on 2026-08-25 for an 2026-08-18 transaction — this appears to be a late Form 4 filing.

Context

• This was an exercise of vested incentive stock options (not an open-market purchase or a sale). Xu paid cash to convert options into shares and did not report any immediate sale of the shares in this filing. Exercises increase insider shareholdings but do not by themselves indicate a change in sentiment.