Ensysce Biosciences (ENSC) Director Bob G. Gower Buys Stock

What Happened
Director Bob G. Gower made multiple acquisitions of Ensysce Biosciences (ENSC) common stock. He bought 508,614 shares on 2026-04-23 at $0.48 each (≈ $246,169) and 400,000 shares on 2026-08-07 at $0.49 each (≈ $198,000). In addition, he received 254,307 shares on 2026-04-23 via conversion of senior convertible promissory notes (a derivative conversion reported as Code C); that conversion was effected without additional cash payment (the outstanding principal plus accrued interest in April 2026 was reported as $246,169). In total these transactions added 1,162,921 shares to his holdings; cash outlay for the open-market purchases totaled about $444,169.

Key Details

• Transaction dates and prices:
  • 2026-04-23: Open-market purchase (P) — 508,614 shares at $0.48 ($246,169)
  • 2026-04-23: Conversion of derivative (C) — 254,307 shares (from convertible notes; no cash)
  • 2026-08-07: Open-market purchase (P) — 400,000 shares at $0.49 ($198,000)
• Aggregate shares acquired: 1,162,921; cash paid in open-market buys: ≈ $444,169.
• Footnote: The 254,307 shares resulted from amendment/conversion of two senior convertible promissory notes issued in 2023 into common stock and a warrant to purchase 254,307 shares; conversion required no additional consideration (outstanding principal + accrued interest ≈ $246,169).
• Shares owned after the transactions are not explicitly stated in the filing; the reported totals reflect two reverse stock splits since the prior Form 4 (per filer footnote).
• Filing timeliness: The Form 4 was filed on 2026-08-18 for transactions with a period of report of 2026-04-23 — this filing was late, which delays public disclosure of insider activity.

Context
Purchases by insiders are often viewed as a more informative signal than sales because they involve personal cash outlay; here Gower combined open-market buying with a debt-to-equity conversion. The derivative conversion converted company debt into equity (plus a warrant) rather than an exercise of options. No indication in the filing that shares were immediately sold (i.e., these were acquisitions, not cashless exercises).