Adagene (NASDAQ: ADAG) CMO discloses stock options, RSUs and shares
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Adagene Inc. executive Zhao Qinghai, the Chief Manufacturing Officer, filed an initial statement of beneficial ownership showing a mix of ordinary shares, stock options, and restricted stock units in the company.
The filing lists several incentive and performance-based stock options over ordinary shares with exercise prices ranging from $1.04 to $5.60 per share and expiration dates between 2030 and 2036. Footnotes explain that some option grants are fully vested and exercisable, while others vest over four years or in two large tranches in 2025 and 2026. Zhao also holds 130,214 ordinary shares directly and 37,500 restricted stock units granted under Adagene’s 2021 Performance Incentive Plan, with 12,500 RSUs scheduled to vest on each of July 23, 2026, July 23, 2027, and July 23, 2028.
Positive
- None.
Negative
- None.
Insider Trade Summary
10 transactions reported
Mixed
10 txns
Insider
Zhao Qinghai
Role
Chief Manufacturing Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Incentive Stock Option (Right to Buy) | -- | -- | -- |
| holding | Incentive Stock Option (Right to Buy) | -- | -- | -- |
| holding | Incentive Stock Option (Right to Buy) | -- | -- | -- |
| holding | Incentive Stock Option (Right to Buy) | -- | -- | -- |
| holding | Incentive Stock Option (Right to Buy) | -- | -- | -- |
| holding | Incentive Stock Option (Right to Buy) | -- | -- | -- |
| holding | Incentive Stock Option (Right to Buy) | -- | -- | -- |
| holding | Incentive Stock Option (Right to Buy) | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
Holdings After Transaction:
Incentive Stock Option (Right to Buy) — 130,542 shares (Direct);
Ordinary Shares — 130,214 shares (Direct);
Restricted Stock Unit — 37,500 shares (Direct)
Footnotes (1)
- 37,500 of Restricted Stock Units ("RSUs") granted under the Adagene Inc. 2021 Performance Incentive Plan. 12,500 of RSUs shall vest on each of the following dates: 7/23/2026, 7/23/2027, and 7/23/2028. 130,542 of incentive stock options granted under the Adagene Inc. Second Amended and Restated Share Incentive Plan (pre-IPO), and all such option are fully vested and exercisable. 1,250 of performance-based stock options granted under the Adagene Inc. 2021 Performance Incentive Plan, and all such option are fully vested and exercisable. 50,000 of time-based stock option granted on 5/3/2023 under the Adagene Inc. 2021 Performance Incentive Plan. The options shall become exercisable with respect to 25% of the options on each of the first four anniversaries of the grant date. Accordingly, 25,000 shares subject to this option are vested and exercisable. 50,000 of time-based stock option granted on 12/27/2023 under the Adagene Inc. 2021 Performance Incentive Plan. The options shall become exercisable with respect to 25% of the options on each of the first four anniversaries of the grant date. Accordingly, 25,000 shares subject to this option are vested and exercisable. 134,390 of time-based stock option granted on 11/17/2024 under the Adagene Inc. 2021 Performance Incentive Plan. 50% of the options shall vest on 6/30/2025 and 6/30/2026, respectively, accordingly, 67,195 shares subject to this option are vested and exercisable. 50,000 of time-based stock option granted on 12/24/2024 under the Adagene Inc. 2021 Performance Incentive Plan. The options shall become exercisable with respect to 25% of the options on each of the first four anniversaries of the grant date. Accordingly, 12,500 shares subject to this option are vested and exercisable. 81,700 of time-based stock option granted on 6/5/2025 under the Adagene Inc. 2021 Performance Incentive Plan, and become exercisable with respect to 25% of the stock options on each of the first four anniversaries of the grant. 80,000 of time-based stock option granted on 2/5/2026 under the Adagene Inc. 2021 Performance Incentive Plan, and become exercisable with respect to 25% of the stock options on each of the first four anniversaries of the grant.
FAQ
What does Adagene (ADAG) Zhao Qinghai’s Form 3 filing show?
The Form 3 shows Zhao Qinghai’s initial equity holdings in Adagene, including ordinary shares, stock options, and restricted stock units. It details exercise prices, expiration dates, and vesting schedules for multiple grants under the company’s share incentive and performance plans.
What stock option awards are disclosed for Adagene (ADAG) CMO Zhao Qinghai?
The filing lists several incentive and performance-based stock options over Adagene ordinary shares, with exercise prices from $1.04 to $5.60 and expirations between 2030 and 2036. Footnotes explain which option grants are fully vested and which vest over multi-year schedules.
How many restricted stock units does Zhao Qinghai have in Adagene (ADAG)?
Zhao Qinghai has 37,500 restricted stock units in Adagene granted under the 2021 Performance Incentive Plan. These RSUs vest in three equal installments of 12,500 units on July 23, 2026, July 23, 2027, and July 23, 2028, subject to continued service conditions.
Are Zhao Qinghai’s Adagene (ADAG) stock options already vested and exercisable?
Some of Zhao Qinghai’s Adagene stock options are fully vested and exercisable, while others vest over time. Footnotes specify that certain pre-IPO and performance-based options are fully exercisable, whereas several time-based grants vest in annual or two-step tranches through 2028 and 2026.
What plans govern the equity awards in Adagene (ADAG) Zhao Qinghai’s Form 3?
Zhao Qinghai’s equity awards come from Adagene’s Second Amended and Restated Share Incentive Plan and the 2021 Performance Incentive Plan. These plans cover his incentive stock options, performance-based options, time-based stock options, and restricted stock units with detailed vesting and exercisability terms.