Andrade Robert 4

What Happened

• Robert Andrade, Chief Financial Officer of Fennec Pharmaceuticals (FENC), exercised 10,000 stock options on January 23, 2026. The exercise price was $2.45 per share, for a total cash outlay of $24,500.
• The filing shows an acquisition of 10,000 common shares through the exercise and a simultaneous disposition of the corresponding derivative (the option). No sale of the newly acquired shares is reported in this filing.

Key Details

• Transaction date: 2026-01-23
• Exercise price: $2.45 per share; total cost: $24,500
• Transaction code: M (exercise or conversion of derivative security)
• Shares owned after the transaction: Not specified in the provided filing data
• Footnote: F1 — Shares were acquired through exercise of an option contract with a $2.45 strike price and an expiration date of July 5, 2026
• Filing timeliness: Reported on the same date as the transaction (no late filing indicated)

Context

• This was an option exercise (not an open-market purchase or a sale). The derivative security (the option) was disposed of because it was exercised; this is a routine corporate insider event and does not by itself indicate a change in market sentiment.
• If Andrade later sells the acquired shares, that will appear as a separate transaction in future filings.