Fennec Pharmaceuticals CFO Robert Andrade Sells Shares & Exercises Options

What Happened

• Robert Andrade, Chief Financial Officer of Fennec Pharmaceuticals (FENC), sold 75,000 shares in an open-market transaction on Aug 27, 2026 for $11.78 each, generating $883,500 in proceeds. The sale was made pursuant to a Rule 10b5-1 trading plan.
• On Aug 28, 2026 he exercised stock options to acquire 21,928 shares at an exercise price of $5.10 per share, for a cash cost of $111,833. The exercise extinguished the underlying option interest (reported as a derivative disposition at $0).

Key Details

• Sale: 75,000 shares on 2026-08-27 at $11.78 — proceeds $883,500. (F1: sold under a 10b5-1 plan adopted May 22, 2026; a portion of proceeds will be used to pay the reporting person’s tax obligations.)
• Option exercise: 21,928 shares acquired on 2026-08-28 by exercising options with $5.10 exercise price — cash paid $111,833. (F2: option expiration June 27, 2027.)
• Derivative entry: simultaneous reporting of the option extinguishment (disposition at $0) tied to the exercise.
• Shares owned after transaction: not specified in the filing.
• Filing timeliness: Form 4 filed 2026-08-28 covering transactions on 2026-08-27 and 2026-08-28; no late filing flag indicated.

Context

• The 75,000-share sale was executed under a pre-arranged Rule 10b5-1 plan, which is commonly used to schedule sales and provides an affirmative defense against insider trading claims; such sales are often routine and not necessarily a sign of changed sentiment.
• The option exercise means Andrade paid the strike price to convert options into 21,928 common shares; the filing shows the underlying option interest was extinguished (reported separately with zero proceeds). This is an acquisition of shares via exercise, not an open-market purchase.