Sayad Pierre Sargis 4

What Happened Pierre Sargis, Chief Medical Officer of Fennec Pharmaceuticals (FENC), had multiple derivative settlements and received a new option grant. Between March 28–31, 2026 he acquired 20,679 shares at $0.00 (settlement/release of prior awards). On March 31, 2026 he was granted incentive stock options (ISOs) to purchase 120,000 shares at $5.77 per share (grant value ≈ $692,400 on grant date, recorded as a derivative award).

Key Details

• Transaction dates/prices:
  • 2026-03-28: 2,052 shares acquired at $0.00 (release of restricted shares).
  • 2026-03-31: 18,456 shares acquired at $0.00 (settlement of vested PSUs) and 171 shares acquired at $0.00 (release of restricted shares).
  • 2026-03-31: Grant of ISOs for 120,000 shares at $5.77 per share (derivative award).
• Shares owned after transaction: Not stated in the filing.
• Footnotes of note:
  • F1: 18,456 shares reflect settlement of PSUs that vested on March 31, 2026.
  • F2: Some shares released from restriction originated from a March 28, 2025 award.
  • F3: ISO grant governed by the issuer’s 2020 Equity Incentive Plan.
  • F4: Vesting for the 120,000 option: one‑third vesting on March 31, 2027, then monthly vesting (1/24 of total) thereafter; fully vested by March 31, 2029.
• Filing: Form 4 filed April 2, 2026 (the filing shows the transactions and does not indicate a late filing).

Context

• The $0.00 acquisitions were settlements/releases of prior awards (PSUs/restricted stock) — common company compensation events, not open‑market purchases. The 120,000‑share grant is an ISO with a multi‑year vesting schedule (not immediately exercisable in full). These are acquisitions/awards, not sales, so they are generally interpreted as routine compensation actions rather than immediate market bets.