IXHL CEO granted 22,608,692 restricted shares at $0; holds 24,186,177

Incannex Healthcare (IXHL) reported an insider equity grant on Form 4.

Rhea-AI Filing Summary

Incannex Healthcare (IXHL) reported an insider equity grant on Form 4. CEO/President and Director Joel Latham acquired 22,608,692 shares of common stock on November 14, 2025 at a price of $0 (transaction code A). Following the grant, his beneficial ownership stands at 24,186,177 shares, held directly.

The filing states these are restricted shares granted under the company’s 2023 Equity Incentive Plan, with vesting in four equal tranches of 5,652,173 shares each: December 10, 2025, June 30, 2026 (two tranches), and June 30, 2027. This outlines the schedule by which the award becomes fully vested over time.

Insider Trade Summary

Grant/Award: 22,608,692 shares

Grant/Award 1 txn

Insider Latham Joel

Role CEO and President

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $0.0001 par value per share	22,608,692	$0.00	$0.00

Holdings After Transaction: Common Stock, $0.0001 par value per share — 24,186,177 shares (Direct)

Footnotes (1)

1. F1. Includes the following shares of restricted stock (the "Shares") granted on November 14, 2025, under the Issuer's 2023 Equity Incentive Plan, (i) 5,652,173 Shares that vest in full on December 10, 2025, (ii) 5,652,173 Shares that vest in full on June 30, 2026, (iii) 5,652,173 Shares that vest in full on June 30, 2026 and (iv) 5,652,173 Shares that vest in full on June 30, 2027.

FAQ

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

What did IXHL disclose on this Form 4?

It disclosed an insider equity grant: 22,608,692 restricted shares were awarded to CEO/President and Director Joel Latham on November 14, 2025 at $0.

How many IXHL shares does Joel Latham own after the transaction?

His beneficial ownership is 24,186,177 shares, held directly after the reported grant.

What is the vesting schedule for the restricted shares granted to IXHL’s CEO?

Four tranches of 5,652,173 shares each vest on Dec 10, 2025, Jun 30, 2026, Jun 30, 2026, and Jun 30, 2027.

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

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

Which plan governed the IXHL restricted stock award?

The award was granted under the 2023 Equity Incentive Plan.

What security was reported in the IXHL Form 4?

Common stock, $0.0001 par value per share, as restricted stock under the plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/14/2025 - 06:12 AM 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^*

Latham Joel

(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
X	Officer (give title below)		Other (specify below)
	CEO and President

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		22,608,692(1)	A	$0	24,186,177	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) 5,652,173 Shares that vest in full on December 10, 2025, (ii) 5,652,173 Shares that vest in full on June 30, 2026, (iii) 5,652,173 Shares that vest in full on June 30, 2026 and (iv) 5,652,173 Shares that vest in full on June 30, 2027.

	/s/ Joel Latham	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.