Former Fennec director sells 10,000 shares at $12.11

FENNEC PHARMACEUTICALS INC.

Rhea-AI Filing Summary

FENNEC PHARMACEUTICALS INC. (FENC) reported that former director Rosty Raykov had two non-derivative transactions in common shares. On 2026-08-31, he acquired 2,778 common shares at $0.00 per share, representing shares released from restriction from an award granted on May 16, 2024. On 2026-09-01, he sold 10,000 common shares at $12.11 per share in a transaction described as a sale in the open market or a private transaction, executed pursuant to a Rule 10b5-1 trading plan dated September 19, 2025.

Insider Trade Summary 10b5-1

Net Seller: 10,000 shares

Net Sell 2 txns

Insider Raykov Rosty

Role Insider

Sold 10,000 shs ($121K)

Type	Security	Shares	Price	Value
Sale	Common shares F2	10,000	$12.11	$121K
Grant/Award	Common shares F1	2,778	$0.00	$0.00

Holdings After Transaction: Common shares — 124,411 shares (Direct)

Footnotes (2)

1. F1. Represents shares released from restriction from shares awarded 5/16/2024.
2. F2. Represents shares sold pursuant to a 10b5-1 plan dated September 19, 2025.

Key Figures

Shares sold: 10,000 common shares Sale price per share: $12.11 per share Shares acquired: 2,778 common shares +3 more

6 metrics

Shares sold 10,000 common shares Non-derivative sale on 2026-09-01 by former director Rosty Raykov

Sale price per share $12.11 per share Price for 10,000 common shares sold on 2026-09-01

Shares acquired 2,778 common shares Non-derivative acquisition on 2026-08-31 from release of restriction

Acquisition price per share $0.00 per share Release of restricted shares awarded on May 16, 2024

Net shares sold 10,000 common shares Net buy/sell shares across reported transactions (sale minus acquisition classified as grant/award)

Rule 10b5-1 plan date September 19, 2025 Plan under which the 10,000-share sale on 2026-09-01 was executed

Key Terms

Rule 10b5-1 plan, shares released from restriction, non-derivative, former director

4 terms

Rule 10b5-1 plan regulatory

"Represents shares sold pursuant to a 10b5-1 plan dated September 19, 2025."

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

shares released from restriction financial

"Represents shares released from restriction from shares awarded 5/16/2024."

non-derivative financial

"transaction_type": "non-derivative"

former director regulatory

""other": "Former Director""

FAQ

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

What insider transactions did FENC report for former director Rosty Raykov?

FENC reported that former director Rosty Raykov had two transactions: an acquisition of 2,778 common shares released from restriction on 2026-08-31, and a sale of 10,000 common shares at $12.11 per share on 2026-09-01.

How many FENC shares did Rosty Raykov sell and at what price?

Rosty Raykov sold 10,000 FENC common shares on 2026-09-01 at a price of $12.11 per share, characterized as a sale in the open market or a private transaction.

Were the FENC insider sales by Rosty Raykov under a Rule 10b5-1 plan?

Yes. The sale of 10,000 FENC common shares by Rosty Raykov on 2026-09-01 was executed pursuant to a Rule 10b5-1 plan dated September 19, 2025, and the filing’s 10b5-1 checkbox is marked true.

What does the 2,778-share acquisition by Rosty Raykov in FENC represent?

The 2,778-share acquisition on 2026-08-31 represents shares released from restriction from shares previously awarded on May 16, 2024, at an indicated per-share price of $0.00.

Is Rosty Raykov currently a director or officer of FENC?

The filing identifies Rosty Raykov as a Former Director of FENNEC PHARMACEUTICALS INC., and he is not reported as a current director, officer, or ten percent owner in this Form 4.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 09/01/2026 - 04:06 PM EDT Accepted by SEC EDGAR 09/01/2026 - 04:05 PM EDT 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).

X

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^*

Raykov Rosty

(Last) (First) (Middle)

C/O FENNEC PHARMACEUTICALS, INC.

PO BOX 13628, 68 TW ALEXANDER DRIVE

(Street)

RESEARCH TRIANGLE PARK NORTH CAROLINA 27709

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FENNEC PHARMACEUTICALS INC. [ FENC ]

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

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Former Director

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/31/2026

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
Common shares(1)	08/31/2026		A		2,778	A	$0	134,411	D
Common shares(2)	09/01/2026		S		10,000	D	$12.11	124,411	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. Represents shares released from restriction from shares awarded 5/16/2024.

2. Represents shares sold pursuant to a 10b5-1 plan dated September 19, 2025.

	/s/ Rosty Raykov	09/01/2026
	** 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)