Adagene CEO buys 20,290 ADS around $3.15

Adagene’s CEO Peter Luo bought over 20,000 ADS in the open market, increasing his direct holdings to 88,535 ADS.

Rhea-AI Filing Summary

Adagene Inc. (ADAG) reported that Chief Executive Officer and director Peter Luo purchased American Depositary Shares (ADS) of the company on September 16, 2026. He acquired 20,290 ADS in an open-market or private transaction at an average price of $3.1533 per ADS, with individual trade prices ranging from $3.00 to $3.20 per ADS. Following this purchase, he directly holds 88,535 ADS. No Rule 10b5-1 trading plan is reported for this transaction.

Insider Trade Summary

Net Buyer: 20,290 shares

Net Buy 1 txn

Insider Luo Peter

Role Chief Executive Officer

Bought 20,290 shs ($64K)

Type	Security	Shares	Price	Value
Purchase	American Depositary Shares (ADS) F1	20,290	$3.1533	$64K

Holdings After Transaction: American Depositary Shares (ADS) — 88,535 shares (Direct)

Footnotes (1)

1. F1. The price reported in Column 4 is an average price. These shares were purchased in multiple transactions at prices ranging from $3.00 to $3.20 per share.

Key Figures

ADS purchased: 20,290 ADS Average purchase price: $3.1533 per ADS Purchase price range: $3.00–$3.20 per ADS +2 more

5 metrics

ADS purchased 20,290 ADS Purchased by CEO Peter Luo on September 16, 2026

Average purchase price $3.1533 per ADS Weighted average price for ADS purchases on September 16, 2026

Purchase price range $3.00–$3.20 per ADS Range of individual trade prices for the September 16, 2026 purchases

Holdings after transaction 88,535 ADS CEO Peter Luo’s direct ADS holdings after the reported purchase

Number of buy transactions reported 1 transaction Single open-market or private purchase reported on this Form 4

Key Terms

American Depositary Shares (ADS), open market or private transaction, Rule 10b5-1

3 terms

American Depositary Shares (ADS) financial

"security titled “American Depositary Shares (ADS)”"

American depositary shares (ADS) are a way for investors in the United States to buy shares of foreign companies without dealing with the complexities of international markets. They represent ownership in a foreign company's stock and are traded on U.S. exchanges, making it easier and more convenient for Americans to invest internationally. ADSs allow investors to diversify their portfolios with foreign companies while using familiar trading platforms.

open market or private transaction financial

"described as a purchase in an open market or private transaction"

Rule 10b5-1 regulatory

"no Rule 10b5-1 trading plan is reported for this transaction"

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 insider transaction did ADAG report for CEO Peter Luo?

CEO Peter Luo purchased 20,290 American Depositary Shares of Adagene Inc. on September 16, 2026, in an open-market or private transaction at an average price of $3.1533 per ADS, with trade prices ranging from $3.00 to $3.20 per ADS.

How many ADAG shares does the CEO hold after this Form 4 transaction?

After the reported purchase, CEO Peter Luo directly holds 88,535 American Depositary Shares (ADS) of Adagene Inc., according to the Form 4 filing’s post-transaction holding figure.

What was the price range for the ADAG shares bought by the CEO?

The filing states that the $3.1533 reported price is an average, and that the ADS were purchased in multiple transactions at prices ranging from $3.00 to $3.20 per ADS.

Was the ADAG CEO’s share purchase under a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is not marked, and there is no footnote indicating a trading plan, so no Rule 10b5-1 plan is reported for this purchase.

Is the ADAG CEO’s ownership direct or indirect after this transaction?

The Form 4 characterizes the CEO’s post-transaction holdings as direct ownership of 88,535 ADS, with no nature-of-ownership footnote modifying that description.

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

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Available on EDGAR 09/17/2026 - 06:12 AM Accepted by SEC EDGAR 09/17/2026 - 06:11 AM 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^*

Luo Peter

(Last) (First) (Middle)

18855 NUTMEG DRIVE

(Street)

MORGAN HILL CALIFORNIA 95037

(City) (State) (Zip)

UNITED STATES

(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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2026

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 (ADS)	09/16/2026		P		20,290	A	$3.1533(1)	88,535	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. The price reported in Column 4 is an average price. These shares were purchased in multiple transactions at prices ranging from $3.00 to $3.20 per share.

	/s/ Peter LUO	09/17/2026
	** 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)