Andrade Robert 4

What Happened

• Robert Andrade, Chief Financial Officer of Fennec Pharmaceuticals (FENC), recorded an exercise/conversion of a derivative security (transaction code M) on 2026-04-30, resulting in the acquisition of 1,703 shares at an exercise/conversion price of $0.00 (total cash cost $0). The Form 4 for the transaction was filed on 2026-05-01.

Key Details

• Transaction date: 2026-04-30; filing date: 2026-05-01 (filed within the typical 2-business-day window).
• Transaction type/code: M — exercise or conversion of a derivative security.
• Shares acquired: 1,703; exercise price: $0.00; total cash paid: $0.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnote: The 1,703 shares “represent shares released from restriction from shares awarded 5/16/2024 and 3/28/2025,” indicating these shares were freed from vesting or other transfer restrictions.
• No 10b5-1 plan, tax-withholding sale, or late filing flag was noted in the provided data.

Context

• This transaction reflects a release/exercise of previously awarded restricted/derivative shares rather than an open‑market purchase or sale. Such releases often occur when awards vest or are converted and do not necessarily indicate a fresh cash investment or a change in insider sentiment.