Fennec CCO granted 120,000 stock options

FENNEC PHARMACEUTICALS INC.

Rhea-AI Filing Summary

FENNEC PHARMACEUTICALS INC. Chief Commercial Officer Terry L Evans received an incentive stock option grant covering 120,000 common shares at an exercise price of $5.77 per share. The options were granted under the 2020 Equity Incentive Plan and vest over time, with one-third exercisable as of March 31, 2027 and the remainder vesting monthly so that all are vested by March 31, 2029.

On the same date, Evans also acquired 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. Following these equity awards and releases, Evans directly holds 20,679 common shares and 270,000 stock options, reflecting routine compensation-related transactions rather than open-market buying or selling.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Evans Terry L

Role Chief Commercial Officer

Type	Security	Shares	Price	Value
Grant/Award	Stock Options	120,000	$5.77	$692K
Exercise	Common Shares	18,456	$0.00	$0.00
Exercise	Common shares	171	$0.00	$0.00
Exercise	Common shares	2,052	$0.00	$0.00

Holdings After Transaction: Stock Options — 270,000 contracts (Direct); Common shares — 18,627 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 120,000 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: 120,000 options Option exercise price: $5.77 per share Options after grant: 270,000 options +5 more

8 metrics

Option grant size 120,000 options Incentive stock options granted on March 31, 2026

Option exercise price $5.77 per share Exercise price for the 120,000 stock options

Options after grant 270,000 options Total stock options held after the March 31, 2026 grant

Shares from PSU settlement 18,456 shares Common shares acquired on March 31, 2026 from vested PSUs

Additional released shares 2,052 shares Common shares released from restriction on March 28, 2026

Common shares held 20,679 shares Direct common share holdings after reported transactions

Option vest start March 31, 2027 Vesting commencement date for one-third of options

Full vesting date March 31, 2029 Date by which 100% of options will be vested

Key Terms

performance share units, incentive stock options, 2020 Equity Incentive Plan, Vesting Commencement Date, +1 more

5 terms

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.

incentive stock options financial

"On March 31, 2026, granted incentive stock options to purchase 120,000 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

"may be exercised 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.

restricted shares financial

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

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

FAQ

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

What did Fennec Pharmaceuticals (FENC) disclose about Terry L Evans in this Form 4?

Fennec Pharmaceuticals reported that Chief Commercial Officer Terry L Evans received a grant of 120,000 stock options and additional common shares from PSU settlements and restricted share releases, updating his direct equity holdings without any open-market share purchases or sales.

How many stock options did Terry L Evans receive from Fennec Pharmaceuticals (FENC)?

Terry L Evans received incentive stock options to purchase 120,000 common shares at $5.77 per share. These options were granted under Fennec Pharmaceuticals’ 2020 Equity Incentive Plan as part of his compensation package, not as an open-market transaction.

What is the vesting schedule for Terry L Evans’ new Fennec (FENC) stock options?

One-third of Evans’ 120,000 stock options may be exercised starting March 31, 2027, the vesting commencement date. The remaining options vest in equal monthly installments, with 100% of the options fully vested and exercisable by March 31, 2029.

How many Fennec (FENC) common shares does Terry L Evans hold after these transactions?

After the performance share unit settlement and restricted share release, Terry L Evans directly holds 20,679 common shares. These shares arose from equity awards and vesting events rather than from buying shares in the open market.

Were Terry L Evans’ Fennec (FENC) transactions open-market trades?

No, the reported transactions are compensation-related. They include a stock option grant, settlement of performance share units that vested on March 31, 2026, and release of previously restricted shares, with no open-market buying or selling disclosed.

Under which plan were Terry L Evans’ new Fennec (FENC) options granted?

The incentive stock options for 120,000 common shares were granted pursuant to Fennec Pharmaceuticals’ 2020 Equity Incentive Plan. This plan governs equity-based compensation awards such as stock options, PSUs, and restricted share grants for eligible participants.

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^*

Evans Terry L

(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
X	Officer (give title below)		Other (specify below)
	Chief Commercial 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		18,456	A	$0	18,456	D
Common shares(2)	03/31/2026		M		171	A	$0	18,627	D
Common shares(2)	03/28/2026		M		2,052	A	$0	20,679	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		120,000		03/31/2027(4)	03/31/2036	Common Shares	120,000	$5.77	270,000	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 120,000 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/ Terry Evans	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.
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)