Adagene director granted 20,000 stock options

Adagene Inc. director Cheung Andy Yiu Leung received a grant of 20,000 nonqualified stock options on August 13, 2026 under the Adagene Inc. 2021 Performance Incentive Plan.

Rhea-AI Filing Summary

Adagene Inc. director Cheung Andy Yiu Leung received a grant of 20,000 nonqualified stock options on August 13, 2026 under the Adagene Inc. 2021 Performance Incentive Plan. The options have a $3.00 per-share exercise price, expire on August 13, 2036, and will vest on April 30, 2027 or the date of the next annual 20-F filing, whichever is earlier. Following this award, Cheung holds 90,000 options in total. The Rule 10b5-1 checkbox was not marked as being under a trading plan.

Insider Trade Summary

Grant/Award: 20,000 shares

Grant/Award 1 txn

Insider Cheung Andy Yiu Leung

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Nonqualified Stock Option (Right to Buy) F1	20,000	$0.00	$0.00

Holdings After Transaction: Nonqualified Stock Option (Right to Buy) — 90,000 contracts (Direct)

Footnotes (1)

1. F1. 20,000 shares of stock option granted on August 13, 2026 under the Adagene Inc. 2021 Performance Incentive Plan, and the option shall vest on April 30, 2027 or the date of the next 20-F filing, whichever is earlier.

Key Figures

Options granted: 20,000 shares Exercise price: $3.0000 per share Options after transaction: 90,000 shares +2 more

5 metrics

Options granted 20,000 shares Nonqualified stock options granted on August 13, 2026

Exercise price $3.0000 per share Conversion or exercise price of the granted options

Options after transaction 90,000 shares Total options held following the reported grant

Expiration date 2036-08-13 Expiration date of the granted options

Vesting date April 30, 2027 Options vest on this date or the date of the next 20-F filing, whichever is earlier

Key Terms

Nonqualified Stock Option, Performance Incentive Plan, Form 20-F, Rule 10b5-1

4 terms

Nonqualified Stock Option financial

"security_title: Nonqualified Stock Option (Right to Buy)"

A nonqualified stock option (NQSO) is a company grant that gives an individual the right to buy shares at a set price but does not meet special tax rules for incentive stock options; when exercised the difference between the market price and the exercise price is treated as ordinary income for the recipient and as a tax-deductible expense for the company. It matters to investors because NQSOs affect an employee’s after-tax proceeds, the company’s reported expenses, and potential share dilution—think of it like a cash bonus that converts into stock but is taxed as regular pay when you take it.

Performance Incentive Plan financial

"granted on August 13, 2026 under the Adagene Inc. 2021 Performance Incentive Plan"

Form 20-F regulatory

"or the date of the next 20-F filing, whichever is earlier"

Form 20-F is the standardized annual disclosure that non-U.S. companies must file with the U.S. securities regulator when their shares are traded in the U.S.; it contains audited financial statements, a plain-language description of the business, management discussion, governance details and key risk factors. It matters to investors because it provides a consistent, comparable company “report card” and rulebook, helping buyers assess financial health, governance and risks before investing.

Rule 10b5-1 regulatory

"The Rule 10b5-1 checkbox was not marked as being under a trading plan"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

FAQ

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

What equity award did ADAG director Cheung Andy Yiu Leung receive?

Cheung Andy Yiu Leung received a grant of 20,000 nonqualified stock options in Adagene Inc. The award was made on August 13, 2026 under the company’s 2021 Performance Incentive Plan.

What is the exercise price of the new stock options reported for ADAG?

The newly granted options have a $3.00 per-share exercise price. These options allow the holder to buy Adagene ordinary shares at this price once vested and exercised, regardless of future market prices.

When do the newly granted ADAG stock options vest?

The 20,000 options will vest on April 30, 2027 or on the date of Adagene’s next annual Form 20-F filing, whichever occurs earlier, according to the grant footnote.

How many Adagene options does Cheung hold after this Form 4 transaction?

After this grant, Cheung holds 90,000 stock options in total. The Form 4 reports 20,000 options acquired in this award, bringing his reported direct option holdings to that level.

Are the ADAG option transactions reported under a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not marked, indicating this specific option grant was not affirmed as made under a Rule 10b5-1 trading plan. It is reported as a standard compensation award.

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

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Available on EDGAR 08/17/2026 - 08:31 PM Accepted by SEC EDGAR 08/17/2026 - 08:30 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

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^*

Cheung Andy Yiu Leung

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2026

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

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
Nonqualified Stock Option (Right to Buy)	$3	08/13/2026		A		20,000		(1)	08/13/2036	Ordinary Shares	20,000	$0.	90,000	D

Explanation of Responses:

1. 20,000 shares of stock option granted on August 13, 2026 under the Adagene Inc. 2021 Performance Incentive Plan, and the option shall vest on April 30, 2027 or the date of the next 20-F filing, whichever is earlier.

	/s/ Andy Yiu Leung Cheung	08/17/2026
	** 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)