Addex reprices CMO Mills' equity awards to $0.032
Addex Therapeutics Ltd. (ADXN) reports that director and chief medical officer Roger Mills had existing equity awards economically repriced on September 2, 2026.
Rhea-AI Filing Summary
Addex Therapeutics Ltd. (ADXN) reports that director and chief medical officer Roger Mills had existing equity awards economically repriced on September 2, 2026. The exercise/strike price on 392,837 shares of common stock acquired via prior option exercises and on related stock options over 50,000 shares was reduced to $0.032 per share following a Remuneration Committee decision, with all other terms unchanged. The paired dispositions and acquisitions on the Form 4 reflect this repricing and are reported as exempt under Rule 16b-6(d) and Rule 16b-3, with U.S. dollar amounts converted from Swiss francs at an exchange rate of $1.2296 per CHF 1.00 as of September 2, 2026.
Positive
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Negative
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Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Mills Roger
Role
CHIEF MEDICAL OFFICER
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock-option (Right to Buy) F3, F2 | 50,000 | $0.00 | $0.00 |
| Grant/Award | Stock-option (Right to Buy) F3, F2 | 50,000 | $0.00 | $0.00 |
| Disposition | Common Stock F1 | 392,837 | $0.00 | $0.00 |
| Grant/Award | Common Stock F1 | 392,837 | $0.00 | $0.00 |
Holdings After Transaction:
Stock-option (Right to Buy) — 50,000 contracts (Direct);
Common Stock — 785,976 shares (Direct)
Footnotes (3)
- F1. Represents 392,837 shares of common Stock listed on SIX Swiss Exchange acquired following the exercise of options. Of these shares, 342,837 were acquired on October 26, 2022 under the deferred strike price payment plan with an initial strike price of $0.16 per share and 50,000 were acquired on November 27, 2023 with an initial strike price of $0.053 per share. On September 2, 2026, following the implementation of the Remuneration Committee's decision, the Strike price of all units was reduced to $0.032. All the other terms of the deferred strike price payment plan remain unchanged. Such transactions were exempt pursuant to Rule 16b-6(d) and Rule 16b-3 of the exchange act as applicable. The strike prices indicated in this section reflect the conversion from CHF to USD at an exchange rate of $1.2296 per CHF 1.00 as of September 2, 2026
- F2. On September 2, 2026, following the implementation of the Remuneration Committee's decision, the exercise price of the options were repriced to $0.032. All of the other terms of the options remain unchanged. Such transactions were exempt pursuant to Rule 16b-6(d) and Rule 16b-3 of the exchange act as applicable.
- F3. The exercise price is reported in U.S. dollars and reflects the conversion from CHF to USD at an exchange rate of $1.2296 per CHF 1.00 as of September 2, 2026.
Key Figures
Common shares repriced: 392,837 shares
Options repriced: 50,000 shares underlying options
New exercise price: $0.032 per share
+4 more
7 metrics
Common shares repriced
392,837 shares
Shares of common stock previously acquired via option exercises under a deferred strike price payment plan
Options repriced
50,000 shares underlying options
Stock options over common stock repriced on September 2, 2026
New exercise price
$0.032 per share
Exercise/strike price after Remuneration Committee decision on September 2, 2026
Initial strike price (major block)
$0.16 per share
Initial strike price for 342,837 shares acquired October 26, 2022
Initial strike price (second block)
$0.053 per share
Initial strike price for 50,000 shares acquired November 27, 2023
Currency conversion rate
$1.2296 per CHF 1.00
Rate used to convert CHF strike prices to USD as of September 2, 2026
Option expiration date
January 7, 2034
Expiration date for the repriced stock options
Key Terms
deferred strike price payment plan, Remuneration Committee, Rule 16b-6(d), Rule 16b-3, +1 more
5 terms
deferred strike price payment plan financial
"acquired on October 26, 2022 under the deferred strike price payment plan"
Remuneration Committee financial
"following the implementation of the Remuneration Committee's decision"
A remuneration committee is a group of independent board members who design, approve and oversee pay packages for a company’s executives and directors. Think of them as the household budget planners for top management: they decide salaries, bonuses and stock awards so pay rewards performance and limits excessive risk. For investors, their role matters because compensation policies affect management incentives, business strategy and the long‑term value shareholders receive.
Rule 16b-6(d) regulatory
"Such transactions were exempt pursuant to Rule 16b-6(d) and Rule 16b-3"
Rule 16b-3 regulatory
"Such transactions were exempt pursuant to Rule 16b-6(d) and Rule 16b-3"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
exercise price financial
"the exercise price of the options were repriced to $0.032"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
FAQ
What insider transaction did ADXN report for Roger Mills on September 2, 2026?
Addex Therapeutics reported that Roger Mills had existing equity awards repriced on September 2, 2026, with the strike or exercise price on certain common shares and related options reset to $0.032 per share pursuant to a Remuneration Committee decision.
What was the new exercise price for Roger Mills’ ADXN equity awards?
The Remuneration Committee’s decision set a new exercise or strike price of $0.032 per share for the affected options and related shares, with all other terms of the deferred strike price payment plan and options remaining unchanged.
Were the ADXN option repricing transactions made under a Rule 10b5-1 plan?
No. The filing indicates the Rule 10b5-1 checkbox is not affirmed, and the footnotes describe the repricing as following a Remuneration Committee decision and being exempt under Rule 16b-6(d) and Rule 16b-3 instead.
How were currency conversions handled in the ADXN option repricing disclosure?
The exercise and strike prices are reported in U.S. dollars and reflect conversion from Swiss francs at an exchange rate of $1.2296 per CHF 1.00, as of September 2, 2026, for the affected options and shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
