Adagene (NASDAQ: ADAG) director details 70,000-share option position in Form 3
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Adagene Inc. director Andy Yiu Leung Cheung filed an initial ownership report showing he holds several nonqualified stock options over the company’s ordinary shares. These options cover 20,000 shares at an exercise price of $11.2000 per share expiring on June 18, 2031, 25,000 shares at $1.5500 per share expiring on December 24, 2034, and 25,000 shares at $2.0320 per share expiring on February 5, 2036. The filing notes that 20,000 option shares are fully vested and exercisable, while 6,250 shares from the 25,000-share grant dated December 24, 2024 are currently vested, with the remainder of that grant and the latest 25,000-share grant scheduled to vest in 25% annual installments.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Cheung Andy Yiu Leung
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Nonqualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Nonqualified Stock Option (Right to Buy) | -- | -- | -- |
| holding | Nonqualified Stock Option (Right to Buy) | -- | -- | -- |
Holdings After Transaction:
Nonqualified Stock Option (Right to Buy) — 20,000 shares (Direct)
Footnotes (1)
- 20,000 of time-based stock option granted under the Adagene Inc. 2021 Performance Incentive Plan, and all such option are fully vested and be exercisable. 25,000 of time-based stock option granted on 12/24/2024 under the Adagene Inc. 2021 Performance Incentive Plan, and became exercisable with respect to 25% of the shares on each of the first four anniversaries of the date of the grant. Accordingly 6,250 shares subject to this option are vested and be exercisable. 25,000 of time-based stock option granted on 2/5/2026 under the Adagene Inc. 2021 Performance Incentive Plan, and became exercisable with respect to 25% of the shares on each of the first four anniversaries of the date of the grant.
FAQ
What does the Adagene (ADAG) Form 3 filing by Andy Cheung show?
The Form 3 shows director Andy Cheung’s initial ownership of Adagene nonqualified stock options. He holds options over ordinary shares at various exercise prices and expirations, providing detailed visibility into his equity-based compensation position with the company.
Which of Andy Cheung’s Adagene (ADAG) stock options are currently vested?
The filing states 20,000 option shares are fully vested and exercisable. For the 25,000-share grant dated December 24, 2024, 6,250 shares are currently vested and exercisable, with the remaining shares vesting in equal annual installments over four years.
What are the exercise prices of the Adagene (ADAG) options reported on the Form 3?
The reported nonqualified stock options have exercise prices of $11.2000, $1.5500, and $2.0320 per share. Each price applies to a distinct grant over Adagene ordinary shares, with different expiration dates and vesting schedules.
When do Andy Cheung’s Adagene (ADAG) stock options expire?
The options expire on three different dates: June 18, 2031 for the 20,000-share grant, December 24, 2034 for one 25,000-share grant, and February 5, 2036 for the other 25,000-share grant, as disclosed in the Form 3.
Under which plan were Andy Cheung’s Adagene (ADAG) options granted?
All three nonqualified stock option grants were awarded under the Adagene Inc. 2021 Performance Incentive Plan. The footnotes describe these as time-based options that vest in 25% annual installments over four years, subject to the specific terms noted.