Fennec Pharmaceuticals (FENC) CEO granted 13,710 shares as PSUs vest

Rhea-AI Filing Summary

FENNEC PHARMACEUTICALS INC. Chief Executive Officer Jeffrey S. Hackman acquired common shares through an equity award vesting. On settlement of performance share units that vested on February 18, 2026, he received 13,710 common shares at no stated exercise price. Following this non-cash derivative exercise, his direct ownership increased to 28,710 common shares.

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

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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 NC 27709

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/18/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)	02/18/2026		M		13,710	A	$0	28,710	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 settlement of PSUs that vested on February 18, 2026.

	/s/ Jeff Hackman	02/19/2026
	** 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).
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FAQ

What insider transaction did FENNEC PHARMACEUTICALS (FENC) report for Jeffrey S. Hackman?

FENNEC PHARMACEUTICALS reported that CEO Jeffrey S. Hackman acquired 13,710 common shares. The shares were delivered through settlement of performance share units that vested on February 18, 2026, rather than an open-market purchase.

How many FENC shares does CEO Jeffrey S. Hackman own after this Form 4 transaction?

After the reported transaction, CEO Jeffrey S. Hackman directly owns 28,710 common shares of FENNEC PHARMACEUTICALS. This increase reflects settlement of vested performance share units into common shares on February 18, 2026, as disclosed in the Form 4.

Was the FENC CEO’s February 18, 2026 Form 4 transaction a market purchase or equity award vesting?

The February 18, 2026 Form 4 transaction was an equity award vesting, not a market purchase. It reflects settlement of performance share units into 13,710 common shares at a reported price of $0.00 per share.

What does transaction code "M" mean in the FENC CEO’s Form 4 filing?

Transaction code "M" in the FENNEC PHARMACEUTICALS Form 4 indicates an exercise or conversion of a derivative security. Here, it refers to performance share units settling into 13,710 common shares for CEO Jeffrey S. Hackman.

Did FENNEC PHARMACEUTICALS receive cash from the CEO’s February 18, 2026 Form 4 transaction?

No cash was indicated as received by FENNEC PHARMACEUTICALS from this transaction. The Form 4 shows an exercise price of $0.00 per share, reflecting non-cash settlement of vested performance share units into common shares.