Adagene's Chunfang Gu sells 475 depositary shares

The 15,625 RSUs are scheduled to vest 50% on July 23, 2027 and 50% on July 23, 2028.

Rhea-AI Filing Summary

Adagene Inc. Executive Director of Finance Chunfang Gu had 6,250 ADSs vest on July 23, 2026; 475 ADSs were sold for tax withholding, resulting in 5,775 ADSs received. The 6,250 ADSs were equivalent to 7,813 RSUs on an ordinary share basis. As of September 30, 2026, Gu directly held 5,775 ADSs and 15,625 RSUs, granted under the 2021 Performance Incentive Plan.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider GU CHUNFANG

Role Executive Director of Finance

Type	Security	Shares	Price	Value
holding	American Depositary Shares (ADSs) F1	--	--	--
holding	Restricted Stock Unit F2	--	--	--

Holdings After Transaction: American Depositary Shares (ADSs) — 5,775 shares (Direct); Restricted Stock Unit — 15,625 shares (Direct)

Footnotes (2)

1. F1. On July 23, 2026, 6,250 ADSs (equivalent to 7,813 RSUs on an ordinary share basis) vested, of which 475 ADSs were sold for tax withholding, resulting in 5,775 ADSs received.
2. F2. 15,625 of Restricted Stock Units ("RSUs") on an ordinary share basis granted under the Adagene Inc. 2021 Performance Incentive Plan. 50% of RSUs shall vest on 7/23/2027and 7/23/2028, respectively.

Key Figures

ADSs vested: 6,250 ADSs ADSs sold for tax withholding: 475 ADSs ADSs received: 5,775 ADSs +4 more

7 metrics

ADSs vested 6,250 ADSs July 23, 2026

ADSs sold for tax withholding 475 ADSs July 23, 2026

ADSs received 5,775 ADSs Result of the July 23, 2026 vesting and tax withholding

Ordinary-share-basis equivalent 7,813 RSUs Equivalent to 6,250 ADSs vested on July 23, 2026

RSUs granted 15,625 RSUs Under the 2021 Performance Incentive Plan

First scheduled vesting portion 50% July 23, 2027

Second scheduled vesting portion 50% July 23, 2028

Key Terms

American Depositary Shares (ADSs), Restricted Stock Units ("RSUs"), ordinary share basis, tax withholding

4 terms

American Depositary Shares (ADSs) financial

"6,250 ADSs (equivalent to 7,813 RSUs on an ordinary share basis)"

A U.S.-listed certificate that stands for a specific number of shares in a non‑U.S. company held by a U.S. bank, making the foreign stock tradable on American exchanges in dollars. Think of it like a local voucher that represents ownership of an overseas product — it lets U.S. investors buy and sell foreign companies without handling foreign currency or foreign brokerage accounts, but it can affect dividends, voting rights, fees, liquidity and exposure to currency and regulatory differences.

Restricted Stock Units ("RSUs") financial

"15,625 of Restricted Stock Units ("RSUs") on an ordinary share basis"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

ordinary share basis financial

"7,813 RSUs on an ordinary share basis"

tax withholding financial

"475 ADSs were sold for tax withholding"

Tax withholding is the practice of taking a portion of a payment—such as wages, dividends, or sale proceeds—before it reaches the recipient and sending that portion to the tax authority as an advance on the recipient’s eventual tax bill. For investors it matters because withholding reduces immediate cash received and affects after‑tax returns, estimated tax payments, and whether you may owe more or receive a refund when taxes are finally calculated, like having a small automatic savings set aside for your tax bill.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many ADAG ADSs did Chunfang Gu sell for tax withholding?

Chunfang Gu, Adagene Inc.'s Executive Director of Finance, had 475 ADSs sold for tax withholding on July 23, 2026. On that date, 6,250 ADSs vested, equivalent to 7,813 RSUs on an ordinary share basis, resulting in 5,775 ADSs received; no Rule 10b5-1 plan is reported.

When do Chunfang Gu's ADAG RSUs vest?

The 15,625 RSUs granted under Adagene Inc.'s 2021 Performance Incentive Plan are scheduled to vest 50% on July 23, 2027 and 50% on July 23, 2028. The award is listed as directly held by Chunfang Gu as of September 30, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/02/2026 - 06:05 PM Accepted by SEC EDGAR 10/02/2026 - 06:04 PM Learn about SEC filing dates

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

GU CHUNFANG

(Last) (First) (Middle)

4F, BUILDING C14, NO. 218 XINGHU STREET

(Street)

SUZHOU JIANGSU 215123

(City) (State) (Zip)

CHINA

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Director of Finance

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
American Depositary Shares (ADSs)								5,775(1)	D
Restricted Stock Unit								15,625(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On July 23, 2026, 6,250 ADSs (equivalent to 7,813 RSUs on an ordinary share basis) vested, of which 475 ADSs were sold for tax withholding, resulting in 5,775 ADSs received.

2. 15,625 of Restricted Stock Units ("RSUs") on an ordinary share basis granted under the Adagene Inc. 2021 Performance Incentive Plan. 50% of RSUs shall vest on 7/23/2027and 7/23/2028, respectively.

	/s/ Chunfang GU	10/02/2026
	** 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 4 (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 4: SEC 1474 (03-26)