Medicus Pharma (NASDAQ: MDCX) director receives 25,000 stock options at $1.80

Rhea-AI Filing Summary

Medicus Pharma Ltd. director Ajay Raju reported receiving a new stock option grant. On December 16, 2025, he was granted an option to purchase 25,000 Common Shares of Medicus Pharma at an exercise price of $1.80 per share. The option is scheduled to vest quarterly in four equal installments over one year, meaning the right to purchase the shares will become available in stages rather than all at once.

The option expires on December 16, 2030, giving the director a five-year window from the grant date to exercise once vested. Following this grant, Ajay Raju beneficially owns 25,000 derivative securities in the form of this stock option, 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

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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^*

Raju Ajay

(Last) (First) (Middle)

TWO LIBERTY PLACE

50 S. 16TH STREET, SUITE 2710

(Street)

PHILADELPHIA PA 19102

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Medicus Pharma Ltd. [ MDCX ]

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)
12/16/2025

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

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
Stock Option (right to buy)	$1.8	12/16/2025		A		25,000		(1)	12/16/2030	Common Shares	25,000	$0	25,000	D

Explanation of Responses:

1. The option was granted on December 16, 2025. The option is scheduled to vest quarterly in four equal installments over one year.

	/s/ Raza Bokhari, as Attorney-in-Fact, for Ajay Raju	12/18/2025
	** 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).
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FAQ

What did Medicus Pharma (MDCX) report in this Form 4 filing?

The filing reports that director Ajay Raju received a grant of stock options covering 25,000 Common Shares of Medicus Pharma Ltd. on December 16, 2025, at an exercise price of $1.80 per share.

Who is the reporting person in the Medicus Pharma (MDCX) Form 4?

The reporting person is Ajay Raju, who is identified as a Director of Medicus Pharma Ltd. The Form 4 is signed by Raza Bokhari as Attorney-in-Fact for Ajay Raju.

How many stock options were granted to the Medicus Pharma (MDCX) director?

Ajay Raju was granted a stock option over 25,000 Common Shares of Medicus Pharma Ltd. as reported in Table II of the filing.

What is the exercise price of the Medicus Pharma (MDCX) stock options granted?

The stock option granted to director Ajay Raju has an exercise price of $1.80 per share for the underlying Common Shares.

When do the Medicus Pharma (MDCX) options granted to the director vest?

The option granted on December 16, 2025 is scheduled to vest quarterly in four equal installments over one year, as stated in the Explanation of Responses.

What is the expiration date of the Medicus Pharma (MDCX) stock option grant?

The stock option granted to director Ajay Raju expires on December 16, 2030, according to Table II of the filing.

How many derivative securities does the Medicus Pharma (MDCX) director beneficially own after this grant?

After the reported transaction, Ajay Raju beneficially owns 25,000 derivative securities in the form of this stock option, held directly.