Hackman Jeffrey S. 4

What Happened
Jeffrey S. Hackman, CEO of Fennec Pharmaceuticals (FENC), received 13,710 shares on February 18, 2026 as the settlement/ conversion of performance stock units (PSUs). The transaction is reported as an exercise/conversion of a derivative (code M) with an acquisition price of $0.00, reflecting issuance of shares from vested awards rather than an open‑market purchase.

Key Details

• Transaction date: 2026-02-18; Filing date: 2026-02-19 (filed the next day).
• Transaction type/code: Exercise/conversion of derivative (M) representing PSU settlement.
• Shares acquired: 13,710; acquisition price reported: $0.00 (no cash paid).
• Shares owned after transaction: Not specified in the filing.
• Footnote: F1 — Represents settlement of PSUs that vested on February 18, 2026.
• Timeliness: Filing appears timely (reported the day after the vesting/settlement).

Context
This was an award settlement (PSUs converting into common shares), not an open‑market buy or sale. Such conversions are compensation events and do not by themselves signal a buying or selling decision by the insider. The filing does not indicate any immediate sale of the shares or tax withholding via share surrender; those details would appear if shares were sold or withheld.