Fennec (NASDAQ: FENC) CCO gets 120,000 options, 20,679 shares
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
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 | -- |
| Exercise | Common shares | 171 | $0.00 | -- |
| Exercise | Common shares | 2,052 | $0.00 | -- |
Holdings After Transaction:
Stock Options — 270,000 shares (Direct);
Common Shares — 18,456 shares (Direct);
Common shares — 18,627 shares (Direct)
Footnotes (1)
- Represents settlement of PSUs that vested on March 31, 2026. Represents shares released from restriction from shares awarded 3/28/2025. 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. 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
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.
FAQ
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.
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.