[Form 4] ANAVEX LIFE SCIENCES CORP. Insider Trading Activity

Rhea-AI Filing Summary

Sandra Boenisch, the PFO & Treasurer of Anavex Life Sciences Corp. (AVXL), reported a change in beneficial ownership on 10/02/2025. A derivative transaction shows acquisition of 12,500 shares underlying a stock option at an exercise price of $5.36. After the transaction, the filing reports 25,000 shares beneficially owned directly by Ms. Boenisch. The filing explains the option was originally granted on 02/20/2024 for 50,000 shares and vests in four equal tranches tied to performance milestones; one milestone (readout of the AV3-71-SZ-001 schizophrenia study) was met, causing vesting of the 12,500 tranche.

Positive

• 12,500 option shares vested due to a disclosed performance milestone
• Direct beneficial ownership increased to 25,000 shares after the reported transaction
• Vesting tied to a specific, clearly disclosed milestone (readout of AV3-71-SZ-001)

Negative

• None.

Insights

Corporate Governance Specialist

Insider vesting follows a disclosed performance milestone, increasing direct holdings.

The report shows a vested tranche of 12,500 option shares became exercisable and were acquired on 10/02/2025, raising direct beneficial ownership to 25,000 shares. This is a disclosed, formulaic compensation event tied to a specific milestone (readout of the AV3-71-SZ-001 study).

Because the vesting was performance‑based and previously granted on 02/20/2024, it reflects planned executive compensation mechanics rather than an ad hoc transfer.

Compensation & Equity Plan Analyst

Vesting of a 50,000‑share option produced a 12,500‑share tranche at a $5.36 exercise price.

The filing documents that the original option granted on 02/20/2024 vests in four equal tranches; one tranche vested when a specified clinical readout milestone was met. The exercised tranche size (12,500) and stated exercise price ($5.36) are explicit in the filing.

This disclosure clarifies the link between corporate milestones and executive equity realization but contains no operational or financial projections.

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^*

Boenisch Sandra

(Last) (First) (Middle)

650 FIFTH AVENUE, 20TH FLOOR

(Street)

NEW YORK NY 10111

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ANAVEX LIFE SCIENCES CORP. [ AVXL ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2025

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

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

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

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
Stock Option (Right to Buy)	$5.36	10/02/2025		A		12,500(1)		10/02/2025	02/20/2034	Common Stock	12,500	$0	25,000	D

Explanation of Responses:

1. On February 20, 2024, the reporting person was granted an option to purchase 50,000 shares of common stock. The option vests in four equal tranches based on four performance milestones, one of which was Readout of AV3-71-SZ-001 schizophrenia study. The performance criteria for this milestone was met, resulting in vesting of the option as to 12,500 shares.

	/s/ Sandra Boenisch	10/03/2025
	** 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.

FAQ

What change did Sandra Boenisch report on Form 4 for AVXL?

The filing reports acquisition of 12,500 shares underlying a stock option on 10/02/2025, increasing her direct holdings to 25,000 shares.

What was the exercise price for the option shares reported by AVXL insider?

The derivative transaction lists an exercise/conversion price of $5.36 per share for the option tranche.

Why did 12,500 option shares vest for the reporting person?

The filing states the original 50,000-share option granted on 02/20/2024 vests in four equal tranches; one tranche vested when the specified performance milestone (readout of AV3-71-SZ-001) was met.

How many total option shares were originally granted to the reporting person?

The explanation discloses an original grant of 50,000 option shares on 02/20/2024.

When was the Form 4 signed and filed by the reporting person?

The signature block shows the form was signed by Sandra Boenisch on 10/03/2025 and the transaction date is 10/02/2025.