Adagene (ADAG) CFO Tam Man Kin details shares, RSUs and options

Rhea-AI Filing Summary

Adagene Inc. director and Chief Financial Officer Tam Man Kin filed an initial ownership report showing direct holdings in ordinary shares and equity awards. He reports 116,583 Ordinary Shares held directly, plus 37,500 Restricted Stock Units granted under the 2021 Performance Incentive Plan, scheduled to vest in three equal installments on July 23, 2026, July 23, 2027, and July 23, 2028.

He also holds several nonqualified stock options over Adagene ordinary shares with exercise prices ranging from $1.04 to $2.032 per share and expiration dates between 2030 and 2036. Footnotes indicate which grants are time-based or performance-based and which portions are already vested and exercisable.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Tam Man Kin

(Last) (First) (Middle)

4F, BUILDING C14, NO. 218 XINGHU STREET

(Street)

SUZHOU JIANGSU 215123

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Adagene Inc. [ ADAG ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares	116,583	D
Restricted Stock Unit	37,500(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Nonqualified Stock Option (Right to Buy)	(2)	03/26/2030	Ordinary Shares	138,519	$1.48	D
Nonqualified Stock Option (Right to Buy)	(3)	08/15/2030	Ordinary Shares	74,886	$1.83	D
Nonqualified Stock Option (Right to Buy)	(4)	05/03/2033	Ordinary Shares	50,000	$1.04	D
Nonqualified Stock Option (Right to Buy)	(5)	12/27/2033	Ordinary Shares	40,000	$1.33	D
Nonqualified Stock Option (Right to Buy)	(6)	11/17/2034	Ordinary Shares	252,448	$1.73	D
Nonqualified Stock Option (Right to Buy)	(7)	12/24/2034	Ordinary Shares	50,000	$1.55	D
Nonqualified Stock Option (Right to Buy)	(8)	06/05/2035	Ordinary Shares	100,000	$1.408	D
Nonqualified Stock Option (Right to Buy)	(9)	02/05/2036	Ordinary Shares	100,000	$2.032	D

Explanation of Responses:

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.

2. 138,519 of time-based 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.

3. 74,886 of performance-based 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.

4. 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.

5. 40,000 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, 20,000 shares subject to this option are vested and exercisable.

6. 252,448 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, 126,224 shares subject to this option are vested and exercisable.

7. 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.

8. 100,000 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.

9. 100,000 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.

	/s/ Man Kin TAM	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Adagene (ADAG) CFO Tam Man Kin report in this Form 3?

Tam Man Kin reports his initial ownership in Adagene as a director and CFO, including 116,583 ordinary shares, 37,500 restricted stock units, and multiple nonqualified stock option grants with various exercise prices and vesting schedules.

How many Adagene (ADAG) ordinary shares does the CFO directly hold?

The CFO directly holds 116,583 Adagene ordinary shares. This figure reflects his reported equity stake in the company’s common equity separate from options and restricted stock units disclosed in the same ownership filing.

What restricted stock units does the Adagene (ADAG) CFO hold and when do they vest?

He holds 37,500 restricted stock units granted under the 2021 Performance Incentive Plan. These RSUs are scheduled to vest in three equal tranches of 12,500 units on July 23, 2026, July 23, 2027, and July 23, 2028, subject to plan terms.

What stock options are disclosed for the Adagene (ADAG) CFO in this Form 3?

The filing lists several nonqualified stock options over Adagene ordinary shares with exercise prices between $1.04 and $2.032 and expiration dates from 2030 through 2036, including both time-based and performance-based grants, some of which are already vested and exercisable.

Are any of the Adagene (ADAG) CFO’s stock options already vested and exercisable?

Yes. Footnotes explain that certain time-based and performance-based options, including grants of 138,519 and 74,886 options, are fully vested and exercisable, while portions of later time-based grants have partially vested according to their multi-year vesting schedules.

Does this Adagene (ADAG) Form 3 show any stock purchases or sales by the CFO?

No. The Form 3 functions as an initial ownership report, listing existing holdings in shares, restricted stock units, and options. It does not disclose any open-market purchases or sales; all entries are reported as holdings rather than new transactions.