Fennec Pharma officer plans $146K stock sale

FENNEC PHARMACEUTICALS INC.

Rhea-AI Filing Summary

FENNEC PHARMACEUTICALS INC. (FENC) received a Form 144 notice from officer Pierre S. Sayad covering a proposed sale of 12,000 shares of common stock through Morgan Stanley Smith Barney LLC on NASDAQ. The notice cites an aggregate market value of $146,169.60 and references 35,067,159 common shares outstanding. The shares relate to performance shares and restricted stock scheduled to vest in 2026.

Key Figures

Shares to be sold: 12,000 shares of common stock Aggregate market value of shares to be sold: $146,169.60 Shares outstanding: 35,067,159 shares +2 more

5 metrics

Shares to be sold 12,000 shares of common stock Proposed Rule 144 sale through Morgan Stanley Smith Barney LLC

Aggregate market value of shares to be sold $146,169.60 Value associated with the 12,000 common shares in the Form 144

Shares outstanding 35,067,159 shares Common shares outstanding referenced in the Form 144 notice

Performance Shares 11,157 shares Performance Shares of common stock dated 03/31/2026

Restricted Stock tranche 171 shares Restricted Stock of common stock dated 03/31/2026

Key Terms

Rule 144, Performance Shares, Restricted Stock, Aggregate market value

4 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Performance Shares financial

"Common | 03/31/2026 | Performance Shares | Issuer"

Performance shares are a type of company stock given to executives or employees that only become theirs if the company meets specific goals, like hitting certain profits or growth targets. They motivate leaders to work toward the company’s success, because their additional shares depend on achieving these results.

Restricted Stock financial

"Common | 03/31/2026 | Restricted Stock | Issuer"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Aggregate market value financial

"Common | Morgan Stanley Smith Barney LLC ... | 12000 | 146169.60"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

FAQ

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

What does the Form 144 filing for FENC disclose about planned share sales?

It discloses that officer Pierre S. Sayad has notified of a proposed sale of 12,000 shares of FENNEC PHARMACEUTICALS INC. common stock, with an indicated aggregate market value of $146,169.60, to be sold through Morgan Stanley Smith Barney LLC on NASDAQ.

How many FENC shares are outstanding according to this Form 144?

The notice lists 35,067,159 shares of FENNEC PHARMACEUTICALS INC. common stock as outstanding in connection with the proposed Rule 144 sale disclosure.

What types of equity awards underlie the FENC shares in this Form 144?

The securities to be sold include Performance Shares and Restricted Stock in FENNEC PHARMACEUTICALS INC., with specific tranches scheduled on dates in 2026 such as 03/31/2026, 04/30/2026, and later months.

How many FENC performance shares are referenced in the Form 144 filing?

The filing lists 11,157 Performance Shares of FENNEC PHARMACEUTICALS INC. common stock with a date of 03/31/2026 in the section describing securities to be sold.

Which broker is named in the FENC Form 144 filing?

The proposed sale of 12,000 FENC common shares is to be handled by Morgan Stanley Smith Barney LLC Executive Financial Services, located at 1 New York Plaza, in connection with trading on NASDAQ.

Who is the person for whose account FENC shares are to be sold under this Form 144?

The person for whose account the securities are to be sold is Pierre S. Sayad, identified as an Officer of FENNEC PHARMACEUTICALS INC., as stated in the Rule 144 notice.

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

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Available on EDGAR 08/31/2026 - 04:08 PM EDT Accepted by SEC EDGAR 08/31/2026 - 04:07 PM EDT Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0002043395
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	FENNEC PHARMACEUTICALS INC.
SEC File Number	001-32295
Address of Issuer	PO BOX 13628, 68 TW ALEXANDER DRIVE Research Triangle Park NORTH CAROLINA 27709
Phone	(919) 636-4530
Name of Person for Whose Account the Securities are To Be Sold	PIERRE S SAYAD
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Officer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	12000	146169.60	35067159	08/31/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	03/31/2026	Performance Shares	Issuer			11157	03/31/2026	Not Applicable
Common	03/31/2026	Restricted Stock	Issuer			171	03/31/2026	Not Applicable
Common	04/30/2026	Restricted Stock	Issuer			168	04/30/2026	Not Applicable
Common	05/31/2026	Restricted Stock	Issuer			168	05/31/2026	Not Applicable
Common	06/30/2026	Restricted Stock	Issuer			168	06/30/2026	Not Applicable
Common	07/31/2026	Restricted Stock	Issuer			168	07/31/2026	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks
Date of Notice	08/31/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Pierre Sargis Sayad
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)