STOCK TITAN

[Form 4] Fennec Pharmaceuticals Inc. Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

Fennec Pharmaceuticals Inc. (FENC) filed a Form 4 disclosing that Director Rosty Raykov acquired 5,208 common shares on 06/30/2025. The shares were received at $0 cost as they were released from restriction on previously granted awards dated 03/31/2023 and 05/16/2024. Following the vesting event, Raykov’s total direct beneficial ownership increased to 70,670 shares. No derivative securities were exercised or disposed of, and there were no open-market sales associated with this filing.

The transaction is relatively small in absolute terms and represents an internal vesting rather than a cash purchase; however, the absence of sales and the continued accumulation of equity may be read as a signal of ongoing alignment between the director and shareholders.

Fennec Pharmaceuticals Inc. (FENC) ha depositato un Modulo 4 comunicando che il Direttore Rosty Raykov ha acquisito 5.208 azioni ordinarie il 30/06/2025. Le azioni sono state ottenute a costo zero poiché sono state liberate da vincoli relativi a premi precedentemente concessi in data 31/03/2023 e 16/05/2024. A seguito dell'evento di maturazione, la proprietà diretta totale di Raykov è aumentata a 70.670 azioni. Non sono stati esercitati o ceduti titoli derivati e non vi sono state vendite sul mercato aperto collegate a questa comunicazione.

La transazione è relativamente modesta in termini assoluti e rappresenta una maturazione interna piuttosto che un acquisto in contanti; tuttavia, l’assenza di vendite e la continua accumulazione di azioni possono essere interpretate come un segnale di allineamento costante tra il direttore e gli azionisti.

Fennec Pharmaceuticals Inc. (FENC) presentó un Formulario 4 informando que el Director Rosty Raykov adquirió 5,208 acciones ordinarias el 30/06/2025. Las acciones se recibieron a costo cero ya que fueron liberadas de restricciones sobre premios otorgados anteriormente con fechas 31/03/2023 y 16/05/2024. Tras el evento de adquisición, la propiedad directa total de Raykov aumentó a 70,670 acciones. No se ejercieron ni dispusieron valores derivados, y no hubo ventas en el mercado abierto relacionadas con esta presentación.

La transacción es relativamente pequeña en términos absolutos y representa una adquisición interna en lugar de una compra en efectivo; sin embargo, la ausencia de ventas y la continua acumulación de acciones pueden interpretarse como una señal de alineación continua entre el director y los accionistas.

Fennec Pharmaceuticals Inc. (FENC)는 Form 4를 제출하여 이사 Rosty Raykov가 2025년 6월 30일에 5,208 보통주를 취득했다고 공시했습니다. 이 주식들은 2023년 3월 31일과 2024년 5월 16일에 부여된 이전 수상에서 제한이 해제되어 비용 없이 받았습니다. 권리 확정 이벤트 이후 Raykov의 직접 소유 지분은 총 70,670주로 증가했습니다. 파생 증권은 행사되거나 처분되지 않았으며, 이 제출과 관련된 공개 시장 매도도 없었습니다.

이 거래는 절대적인 규모로는 비교적 작으며 현금 구매가 아닌 내부 권리 확정에 해당합니다. 그러나 매도 부재와 지속적인 지분 축적은 이사와 주주 간의 지속적인 이해관계 일치를 나타내는 신호로 해석될 수 있습니다.

Fennec Pharmaceuticals Inc. (FENC) a déposé un Formulaire 4 révélant que le Directeur Rosty Raykov a acquis 5 208 actions ordinaires le 30/06/2025. Les actions ont été reçues à coût nul car elles ont été libérées de restrictions sur des attributions précédemment accordées en date du 31/03/2023 et du 16/05/2024. Suite à cet événement de levée de restrictions, la propriété directe totale de Raykov est passée à 70 670 actions. Aucun titre dérivé n’a été exercé ou cédé, et il n’y a eu aucune vente sur le marché ouvert liée à ce dépôt.

La transaction est relativement modeste en termes absolus et représente une levée interne plutôt qu’un achat en espèces ; toutefois, l’absence de ventes et l’accumulation continue de titres peuvent être interprétées comme un signe d’alignement durable entre le directeur et les actionnaires.

Fennec Pharmaceuticals Inc. (FENC) reichte ein Formular 4 ein, in dem offengelegt wurde, dass Direktor Rosty Raykov am 30.06.2025 5.208 Stammaktien erworben hat. Die Aktien wurden zu Nullkosten erhalten, da sie von Beschränkungen befreit wurden, die auf zuvor gewährte Auszeichnungen vom 31.03.2023 und 16.05.2024 zurückgingen. Nach dem Vesting-Ereignis erhöhte sich Raykovs gesamtes direktes Nutzungsrecht auf 70.670 Aktien. Es wurden keine derivativen Wertpapiere ausgeübt oder veräußert und es gab keine Verkäufe am offenen Markt, die mit dieser Meldung verbunden sind.

Die Transaktion ist in absoluten Zahlen relativ gering und stellt eine interne Freigabe dar und keinen Barerwerb; dennoch kann das Fehlen von Verkäufen und die fortgesetzte Ansammlung von Anteilen als Signal für eine anhaltende Übereinstimmung zwischen dem Direktor und den Aktionären gelesen werden.

Positive
  • No insider selling: the director only acquired shares, which avoids negative sentiment often linked to disposals.
  • Alignment of interests: increased personal stake (70,670 shares) signals continued commitment to the company.
Negative
  • Immaterial size: 5,208 shares is a negligible addition relative to total shares outstanding and unlikely to influence valuation.
  • Non-cash acquisition: the shares were granted at $0, offering limited insight into the director’s willingness to deploy personal capital.

Insights

TL;DR: Minor insider share vesting; neutral-to-slightly positive signal, no market-moving impact expected.

The Form 4 shows a routine RSU/stock award vesting, adding 5,208 shares to Director Raykov’s holdings and lifting his stake to 70,670 shares. Because the shares were acquired at no cost and there were no corresponding sales, the filing avoids the negative optics often attached to insider selling. Still, the quantity is modest relative to Fennec’s 27 million outstanding shares, so dilution and valuation effects are immaterial. From a governance perspective, continued share ownership maintains insider alignment, offering a small positive sentiment. Overall, this is a housekeeping event with minimal fundamental impact on FENC’s investment thesis.

Fennec Pharmaceuticals Inc. (FENC) ha depositato un Modulo 4 comunicando che il Direttore Rosty Raykov ha acquisito 5.208 azioni ordinarie il 30/06/2025. Le azioni sono state ottenute a costo zero poiché sono state liberate da vincoli relativi a premi precedentemente concessi in data 31/03/2023 e 16/05/2024. A seguito dell'evento di maturazione, la proprietà diretta totale di Raykov è aumentata a 70.670 azioni. Non sono stati esercitati o ceduti titoli derivati e non vi sono state vendite sul mercato aperto collegate a questa comunicazione.

La transazione è relativamente modesta in termini assoluti e rappresenta una maturazione interna piuttosto che un acquisto in contanti; tuttavia, l’assenza di vendite e la continua accumulazione di azioni possono essere interpretate come un segnale di allineamento costante tra il direttore e gli azionisti.

Fennec Pharmaceuticals Inc. (FENC) presentó un Formulario 4 informando que el Director Rosty Raykov adquirió 5,208 acciones ordinarias el 30/06/2025. Las acciones se recibieron a costo cero ya que fueron liberadas de restricciones sobre premios otorgados anteriormente con fechas 31/03/2023 y 16/05/2024. Tras el evento de adquisición, la propiedad directa total de Raykov aumentó a 70,670 acciones. No se ejercieron ni dispusieron valores derivados, y no hubo ventas en el mercado abierto relacionadas con esta presentación.

La transacción es relativamente pequeña en términos absolutos y representa una adquisición interna en lugar de una compra en efectivo; sin embargo, la ausencia de ventas y la continua acumulación de acciones pueden interpretarse como una señal de alineación continua entre el director y los accionistas.

Fennec Pharmaceuticals Inc. (FENC)는 Form 4를 제출하여 이사 Rosty Raykov가 2025년 6월 30일에 5,208 보통주를 취득했다고 공시했습니다. 이 주식들은 2023년 3월 31일과 2024년 5월 16일에 부여된 이전 수상에서 제한이 해제되어 비용 없이 받았습니다. 권리 확정 이벤트 이후 Raykov의 직접 소유 지분은 총 70,670주로 증가했습니다. 파생 증권은 행사되거나 처분되지 않았으며, 이 제출과 관련된 공개 시장 매도도 없었습니다.

이 거래는 절대적인 규모로는 비교적 작으며 현금 구매가 아닌 내부 권리 확정에 해당합니다. 그러나 매도 부재와 지속적인 지분 축적은 이사와 주주 간의 지속적인 이해관계 일치를 나타내는 신호로 해석될 수 있습니다.

Fennec Pharmaceuticals Inc. (FENC) a déposé un Formulaire 4 révélant que le Directeur Rosty Raykov a acquis 5 208 actions ordinaires le 30/06/2025. Les actions ont été reçues à coût nul car elles ont été libérées de restrictions sur des attributions précédemment accordées en date du 31/03/2023 et du 16/05/2024. Suite à cet événement de levée de restrictions, la propriété directe totale de Raykov est passée à 70 670 actions. Aucun titre dérivé n’a été exercé ou cédé, et il n’y a eu aucune vente sur le marché ouvert liée à ce dépôt.

La transaction est relativement modeste en termes absolus et représente une levée interne plutôt qu’un achat en espèces ; toutefois, l’absence de ventes et l’accumulation continue de titres peuvent être interprétées comme un signe d’alignement durable entre le directeur et les actionnaires.

Fennec Pharmaceuticals Inc. (FENC) reichte ein Formular 4 ein, in dem offengelegt wurde, dass Direktor Rosty Raykov am 30.06.2025 5.208 Stammaktien erworben hat. Die Aktien wurden zu Nullkosten erhalten, da sie von Beschränkungen befreit wurden, die auf zuvor gewährte Auszeichnungen vom 31.03.2023 und 16.05.2024 zurückgingen. Nach dem Vesting-Ereignis erhöhte sich Raykovs gesamtes direktes Nutzungsrecht auf 70.670 Aktien. Es wurden keine derivativen Wertpapiere ausgeübt oder veräußert und es gab keine Verkäufe am offenen Markt, die mit dieser Meldung verbunden sind.

Die Transaktion ist in absoluten Zahlen relativ gering und stellt eine interne Freigabe dar und keinen Barerwerb; dennoch kann das Fehlen von Verkäufen und die fortgesetzte Ansammlung von Anteilen als Signal für eine anhaltende Übereinstimmung zwischen dem Direktor und den Aktionären gelesen werden.

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*
Raykov Rosty

(Last) (First) (Middle)
C/O FENNEC PHARMACEUTICALS, INC.
PO BOX 13628, 68 TW ALEXANDER DRIVE

(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
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025
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) 06/30/2025 A 5,208 A $0 70,670 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 3/31/2023 and 5/16/2024.
/s/ Rosty Raykov 07/01/2025
** 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.

FAQ

How many FENC shares did Director Rosty Raykov acquire?

He received 5,208 common shares through the release of restricted stock.

What is the director's total ownership after this Form 4 filing?

Rosty Raykov now directly owns 70,670 FENC shares.

Was this an open-market purchase?

No. The acquisition was a vesting event with a reported price of $0.

Did the filing include any insider sales?

No insider sales were reported; only an acquisition was disclosed.

Does this transaction materially affect Fennec Pharmaceuticals' share count?

No. The number of shares vested is insignificant relative to the company’s total shares outstanding.
Fennec Pharmaceuticals Inc

NASDAQ:FENC

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FENC Stock Data

229.24M
22.83M
16.2%
58.62%
7.02%
Biotechnology
Biological Products, (no Disgnostic Substances)
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United States
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