ADARx (ADRX) 10% Owner Li Zhen Receives 1.02M-Share Award

What Happened

• Li Zhen, a reported 10% owner of ADARx Pharmaceuticals (ADRX), was granted 1,024,152 derivative shares (transaction code A) on 2026-09-24. The award is recorded at $0.00 per share on the Form 4 (derivative security), so there is no immediate cash paid or reported value on grant.

Key Details

• Transaction date: 2026-09-24; Form 4 filed: 2026-09-28 (timely filing).
• Security: 1,024,152 derivative shares granted at $0.00 per share (code A — award/grant).
• Vesting: 1/4 of the award vests and becomes exercisable on September 24, 2027; the remaining shares vest in equal quarterly installments thereafter over a three-year period, subject to continued service (see footnote).
• Shares owned after transaction: Not specified in the filing.
• Filing timeliness: Filing date is within required business-day window (not marked late).

Context

• This is an award of derivative securities (likely RSUs or similar) that will convert to common shares only as they vest; it is not an open-market purchase or immediate sale. As a 10% owner, Li Zhen is a significant holder — this disclosure reflects a grant to a principal/insider rather than routine open-market trading. The vesting schedule ties future share delivery to continued service.