SAENGER BRADLEY 4

What Happened

• Bradley Saenger, Chief Financial Officer of Tonix Pharmaceuticals (TNXP), received two awards on 2026-02-24: 39,012 and 39,011 derivative shares (total 78,023). Each grant is reported at $0.00 and is coded as an award/grant (transaction code A) on the Form 4.
• These are derivative awards (options per the filing’s footnotes), not an open-market purchase or sale. The filing reports $0 value because the grant is an award of equity-linked instruments rather than a cash transaction.

Key Details

• Transaction date: 2026-02-24; Form 4 filed 2026-02-26 (appears timely).
• Grants: 39,012 and 39,011 derivative shares (total 78,023).
• Reported price/value: $0.00 (award/grant of derivative instruments).
• Vesting: One-third vests on the first anniversary of issuance, then 1/48th each month thereafter for 36 months (footnote F1).
• Plan: Granted under the Issuer’s Amended and Restated 2020 Stock Incentive Plan (footnote F2).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.

Context

• These awards are typical compensation/retention tools and do not represent immediate ownership or sale of common stock. Options or restricted awards only translate into tradable shares if and when vested and (if applicable) exercised.
• For retail investors, grants are less direct signals than purchases or sales — they indicate management incentive alignment but not a cash commitment to buy stock.