[Form 4] Incannex Healthcare Inc. Insider Trading Activity

Rhea-AI Filing Summary

Incannex Healthcare (IXHL) reported a director’s Form 4 showing an acquisition of 1,686,956 shares of restricted common stock at $0 on November 14, 2025 under the company’s 2023 Equity Incentive Plan. The award vests in four tranches: 421,739 on December 10, 2025, 421,739 on June 30, 2026, another 421,739 on June 30, 2026, and 421,739 on June 30, 2027. Following the grant, the reporting person beneficially owns 1,957,803 shares, held directly.

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
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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^*

Widdows Peter

(Last) (First) (Middle)

C/O INCANNEX HEALTHCARE INC.

RIALTO SOUTH TWR LVL 23, 525 COLLINS ST

(Street)

MELBOURNE C3 VIC 3008

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Incannex Healthcare Inc. [ IXHL ]

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)
11/14/2025

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 Stock, $0.0001 par value per share	11/14/2025		A		1,686,956(1)	A	$0	1,957,803	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. Includes the following shares of restricted stock (the "Shares") granted on November 14, 2025, under the Issuer's 2023 Equity Incentive Plan, (i) 421,739 Shares that vest in full on December 10, 2025, (ii) 421,739 Shares that vest in full on June 30, 2026, (iii) 421,739 Shares that vest in full on June 30, 2026 and (iv) 421,739 Shares that vest in full on June 30, 2027.

	/s/ Peter Widdows	11/14/2025
	** 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

What did Incannex (IXHL) disclose in this Form 4?

A director acquired 1,686,956 restricted shares at $0 on 11/14/2025 under the 2023 Equity Incentive Plan.

How do the restricted shares vest for IXHL’s director grant?

In four tranches of 421,739 shares each: 12/10/2025, 6/30/2026, 6/30/2026, and 6/30/2027.

What is the director’s total beneficial ownership after the transaction?

Beneficial ownership is 1,957,803 shares, reported as Direct.

What was the transaction code and price on the Form 4?

Transaction code A (grant/award) at a price of $0 per share.

Which plan governs the IXHL restricted stock grant?

The grant was made under the 2023 Equity Incentive Plan.

What is the issuer and ticker symbol referenced?

The issuer is Incannex Healthcare Inc. with ticker IXHL.