Hackman Jeffrey S. 4

What Happened

• Jeffrey S. Hackman, CEO of Fennec Pharmaceuticals (FENC), had multiple derivative conversions/settlements and received a new option grant. On March 28 and March 31, 2026 he acquired a total of 31,797 shares through exercise/conversion of derivatives/PSUs at $0.00 per share (no cash paid). On March 31, 2026 he was granted incentive stock options to purchase 200,000 shares at a $5.77 strike price (aggregate exercise price $1,154,000).

Key Details

• Transaction dates: March 28, 2026 (13,943 shares settled) and March 31, 2026 (16,695 shares and 1,159 shares settled; 200,000‑option grant).
• Prices/values: Settled shares acquired at $0.00; option grant strike $5.77 per share, aggregate $1,154,000.
• Shares owned after the transactions: Not disclosed in the provided filing details.
• Footnotes of note:
  • F1: Settlement of PSUs that vested on March 31, 2026.
  • F2: Shares released from restriction from a March 28, 2025 award.
  • F3: March 31, 2026 grant of 200,000 incentive stock options under the 2020 Equity Incentive Plan.
  • F4: Vesting: 1/3 vest on March 31, 2027; thereafter 1/24 of total monthly until 100% vested by March 31, 2029.
• Filing date: April 2, 2026. (No late‑filing flag was provided in the summary you supplied.)

Context

• The settled shares appear to be vested PSUs/restricted shares (no cash paid on settlement), not open‑market purchases or sales. The 200,000 options are a compensation grant with multi‑year vesting; they are not immediately exercisable in full (first tranche vests March 31, 2027).
• These transactions are compensation/vesting events rather than outright market purchases or sales. They do not by themselves indicate the CEO bought or sold shares on the open market.