Fennec CEO granted 200,000 stock options at $5.77

FENNEC PHARMACEUTICALS INC. reported that Chief Executive Officer Jeffrey S. Hackman received an incentive stock option grant to purchase 200,000 common shares at $5.77 per share, expiring on March 31, 2036, under the company’s 2020 Equity Incentive Plan.

Rhea-AI Filing Summary

FENNEC PHARMACEUTICALS INC. reported that Chief Executive Officer Jeffrey S. Hackman received an incentive stock option grant to purchase 200,000 common shares at $5.77 per share, expiring on March 31, 2036, under the company’s 2020 Equity Incentive Plan.

On March 31, 2026, one-third of these options become exercisable, with additional portions vesting monthly so that all 200,000 options are vested by March 31, 2029. Hackman also acquired additional common shares through the settlement of performance share units that vested on March 31, 2026 and through the release of previously restricted shares awarded on March 28, 2025.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Hackman Jeffrey S.

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	Stock Options	200,000	$5.77	$1.15M
Exercise	Common Shares	16,695	$0.00	$0.00
Exercise	Common Shares	1,159	$0.00	$0.00
Exercise	Common Shares	13,943	$0.00	$0.00

Holdings After Transaction: Stock Options — 725,000 contracts (Direct); Common Shares — 46,564 shares (Direct)

Footnotes (4)

1. F1. Represents settlement of PSUs that vested on March 31, 2026.
2. F2. Represents shares released from restriction from shares awarded 3/28/2025.
3. F3. On March 31, 2026, granted incentive stock options to purchase 200,000 shares of the issuers common shares pursuant to the Issuer's 2020 Equity Incentive Plan.
4. F4. One-third of the shares subject to this option may be exercised as of March 31, 2027 ("Vesting Commencement Date"). One twenty-fourth of the shares subject to this option shall vest and may be exercised as of the last day of each month following the Vesting Commencement Date. As of March 31, 2029, 100% of the total number of shares subject to this option shall be vested.

Key Figures

Option grant size: 200,000 stock options Option exercise price: $5.77 per share Option expiration: March 31, 2036 +4 more

7 metrics

Option grant size 200,000 stock options Granted March 31, 2026 under 2020 Equity Incentive Plan

Option exercise price $5.77 per share Incentive stock options granted March 31, 2026

Option expiration March 31, 2036 Expiration date of 200,000 incentive stock options

Options after grant 725,000 options Total stock options held following March 31, 2026 grant

PSU settlement shares 16,695 common shares Common shares acquired March 31, 2026 via derivative exercise/conversion

Shares from released restriction 13,943 common shares Common shares acquired March 28, 2026 via derivative exercise/conversion

Common shares after March 31, 2026 46,564 shares Directly held common shares following one reported transaction on March 31, 2026

Key Terms

PSUs, incentive stock options, 2020 Equity Incentive Plan, Vesting Commencement Date, +1 more

5 terms

PSUs financial

"Represents settlement of PSUs that vested on March 31, 2026."

PSUs are company shares promised to employees or executives that only become actual stock if the business hits specific performance targets over a set period. For investors, PSUs matter because they link pay to measurable outcomes — similar to a conditional bonus that converts into ownership — which can influence management decisions, dilution of shares, and signals about confidence in future results.

incentive stock options financial

"On March 31, 2026, granted incentive stock options to purchase 200,000 shares"

Incentive stock options are a type of employee stock option that gives eligible workers the right to buy company shares at a fixed price later on, often below future market value. They matter to investors because they align employee incentives with company performance, can dilute existing ownership when exercised, and create potential tax advantages for option holders if certain holding-time rules are met — think of them as a coupon to buy stock at today’s price with extra tax rules attached.

2020 Equity Incentive Plan financial

"pursuant to the Issuer's 2020 Equity Incentive Plan."

Vesting Commencement Date financial

"as of March 31, 2027 ("Vesting Commencement Date")."

The vesting commencement date is the starting point when an employee begins earning ownership rights to their promised benefits, such as stock options or retirement contributions. Think of it like the day a savings account is opened—only after this date do the benefits start to grow and become fully available over time. It matters to investors because it marks when the clock begins ticking toward full ownership, affecting the timing and value of these benefits.

performance share units financial

"Represents settlement of PSUs that vested on March 31, 2026."

Performance share units are a type of company stock award given to employees that depend on the company meeting specific goals or targets. If these goals are achieved, the employee receives shares or the value of shares; if not, they may receive little or no compensation. This aligns employees’ interests with the company's success and encourages performance that benefits investors.

FAQ

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

What insider transactions did FENC CEO Jeffrey Hackman report on this Form 4?

Jeffrey S. Hackman reported receiving an incentive stock option grant and acquiring common shares. The common shares came from performance share units that vested on March 31, 2026 and from shares released from restriction that were originally awarded on March 28, 2025.

How many stock options were granted to the FENC CEO and at what price?

The CEO received incentive stock options to purchase 200,000 common shares at $5.77 per share. These options were granted on March 31, 2026 under Fennec Pharmaceuticals’ 2020 Equity Incentive Plan, forming a significant component of his equity-based compensation.

When do Jeffrey Hackman’s new Fennec stock options vest and become exercisable?

One-third of the option grant becomes exercisable on March 31, 2027, the vesting commencement date. After that, one twenty-fourth of the options vests on the last day of each following month, so that all 200,000 options are fully vested by March 31, 2029.

What is the expiration date of the FENC CEO’s newly granted stock options?

The incentive stock options granted to the CEO expire on March 31, 2036. This long-dated expiration gives him a multi‑year window to exercise the options once vested, aligning his potential share ownership with the company’s longer-term performance.

How did Jeffrey Hackman acquire additional FENC common shares besides the option grant?

He acquired additional common shares through equity awards rather than open-market purchases. The filing notes settlement of performance share units that vested on March 31, 2026 and shares released from restriction that were originally awarded on March 28, 2025.

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

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Accepted by SEC EDGAR 04/02/2026 - 04:05 PM 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).

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^*

Hackman Jeffrey S.

(Last) (First) (Middle)

68 TW ALEXANDER DRIVE

PO BOX 13628

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/28/2026

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)	03/31/2026		M		16,695	A	$0	45,405	D
Common Shares(2)	03/31/2026		M		1,159	A	$0	46,564	D
Common Shares(2)	03/28/2026		M		13,943	A	$0	60,507	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
Stock Options(3)	$5.77	03/31/2026		A		200,000		03/31/2027(4)	03/31/2036	Common Shares	200,000	$5.77	725,000	D

Explanation of Responses:

1. Represents settlement of PSUs that vested on March 31, 2026.

2. Represents shares released from restriction from shares awarded 3/28/2025.

3. On March 31, 2026, granted incentive stock options to purchase 200,000 shares of the issuers common shares pursuant to the Issuer's 2020 Equity Incentive Plan.

4. One-third of the shares subject to this option may be exercised as of March 31, 2027 ("Vesting Commencement Date"). One twenty-fourth of the shares subject to this option shall vest and may be exercised as of the last day of each month following the Vesting Commencement Date. As of March 31, 2029, 100% of the total number of shares subject to this option shall be vested.

	/s/ Jeff Hackman	04/02/2026
	** 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.
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* Form 4: SEC 1474 (03-26)