[8-K] Connect Biopharma Holdings Limited American Reports Material Event

Rhea-AI Filing Summary

Trio-Tech International (TRT) filed a Form 4 indicating that Senior Corporate Vice President & COO (Testing) Lim Hwee Poh received a grant of 10,000 stock options on 07/07/2025 at an exercise price of $5.24 per share, expiring on 07/06/2030. The filing was submitted on 07/08/2025.

Of the total award, 2,500 options vested immediately, while the remaining 7,500 options will vest in three equal annual installments. After the transaction, the executive’s beneficial ownership stands at 10,000 derivative securities, held directly. No common shares were bought or sold and there were no dispositions of existing equity.

This is a routine equity-based compensation grant intended to align the executive’s interests with shareholders. The award is modest relative to the company’s total shares outstanding and has minimal immediate dilution or cash-flow impact. Investors may view the filing as neutral, providing limited insight into near-term sentiment or operational performance.

Positive

• Equity incentive aligns executive goals with shareholder value through stock option grant.
• No insider selling was reported, avoiding negative sentiment signals.

Negative

• Potential dilution from 10,000 additional option shares, though quantitatively small.
• Grant does not involve open-market purchase, so it offers limited insight into insider confidence beyond compensation.

Insights

Financial Analyst

TL;DR: Routine option grant; negligible dilution; neutral impact.

The 10,000-share option grant to the COO represents a standard incentive award with an exercise price close to recent trading ranges. With staggered vesting through 2028 and a zero-cost grant, cash flow and earnings per share remain unaffected. The absence of share sales suggests no negative insider signal, yet the grant size is too small to imply strong bullish conviction. Overall investor impact is immaterial.

Corporate Governance Expert

TL;DR: Grant aligns incentives but offers limited governance insight.

The Form 4 discloses a 10b5-1-compliant option grant, supporting alignment of long-term incentives. Immediate vesting of 25% is slightly front-loaded but still within common practice. No red flags related to timing, pricing, or volume emerge. Dilution risk is de minimis, and the grant structure adheres to standard governance guidelines. Impact on shareholder rights or voting power is minimal.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

________________________________________

FORM 8-K

________________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 9, 2025

________________________________________

Connect Biopharma Holdings Limited

(Exact name of Registrant as Specified in Its Charter)

________________________________________

Cayman Islands			001-40212			Not Applicable
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(IRS Employer Identification No.)
			3580 Carmel Mountain Road, Suite 200
			San Diego, California			92130
			(Address of Principal Executive Offices)			(Zip Code)

Registrant’s Telephone Number, Including Area Code: (858) 727-1040

________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

American Depositary Shares, each representing one Ordinary Share, par value $0.000174 per Share

CNTB

The Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 7.01 Regulation FD Disclosure.

On July 9, 2025, Connect Biopharma Holdings Limited (the “Company”) issued a press release announcing that the Company’s collaborator and exclusive licensee in China, Simcere Pharmaceutical Co., Ltd. (“Simcere”), has submitted its New Drug Application (“NDA”) for rademikibart to the National Medical Products Administration of China (“NMPA”) for the treatment of atopic dermatitis (“AD”) in adults and adolescents. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated into this Item 7.01 by reference.

The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 8.01 Other Events.

On July 9, 2025, the Company announced that Simcere has submitted its NDA for rademikibart to the NMPA for the treatment of AD in adults and adolescents.

Forward-Looking Statements

This disclosure, including the press release furnished herewith as Exhibit 99.1, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “plan,” “potential,” “aim,” “expect,” “anticipate,” “promising” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on the Company’s expectations and assumptions as of the date of this Current Report on Form 8-K. Forward-looking statements contained herein include, but are not limited to, statements regarding the Company’s strategy and plans, the potential clinical effects, benefits, safety and efficacy of rademikibart, the timing, nature and significance of enrollment and data from the Company’s trials evaluating rademikibart, the timing of any further releases of data or of any presentations or investor conference calls, the Company’s plans and expectations for its asthma and COPD program, anticipated patient populations or market opportunities for the Company’s prospective products, if approved, whether the NMPA approves Simcere’s NDA and the timing of any such approval, whether the Company becomes eligible for any additional milestone or royalty payments under its agreement with Simcere, and risks and uncertainties associated with drug development and commercialization. Many factors may cause differences between current expectations and actual results, including unexpected safety or efficacy data or results observed during clinical trials or in data readouts; the occurrence of adverse safety events; risks of unexpected costs, delays or other unexpected hurdles; difficulties in collaborating with other companies; successful development and/or commercialization of alternative product candidates by the Company’s competitors; changes in expected or existing competition; delays in or disruptions to the Company’s business or clinical trials due to geopolitical changes or other external factors; and unexpected litigation or other disputes. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements, or the scientific data presented. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements herein are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including the section titled “Risk Factors” contained therein, including in our annual report on Form 10-K for the year ended December 31, 2024, and any subsequent filings with the SEC. Except as required by law, the Company assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.						Description
99.1						Press Release of the Company, dated July 9, 2025
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

									CONNECT BIOPHARMA HOLDINGS LIMITED
Date:			July 9, 2025			By:			/s/ David Szekeres
						Name:			David Szekeres
						Title:			President

FAQ

What insider transaction did TRT report on 07/07/2025?

Trio-Tech granted COO Lim Hwee Poh 10,000 stock options at $5.24 per share.

How many Trio-Tech (TRT) options were granted?

The filing shows a single grant of 10,000 options to purchase common stock.

What is the exercise price and expiration date of the options?

The options carry an $5.24 exercise price and expire on 07/06/2030.

When do the granted TRT options vest?

2,500 vested immediately; the remaining 7,500 vest in three equal annual installments starting one year from the grant date.

Did the TRT executive sell any shares?

No. The Form 4 only reports an acquisition of derivative securities; there were no disposals.

How does this option grant affect dilution?

The 10,000 options add a small incremental dilution relative to total shares outstanding, with minimal impact on EPS.