Quoin (QNRX) Director Option Grant — 4,105 ADSs, $9.07 Exercise Price

Rhea-AI Filing Summary

Quoin Pharmaceuticals director Natalie Ee Mun Leong reported an award of a share option on 08/21/2025 exercisable for 4,105 American Depositary Shares (ADSs) representing underlying ordinary shares. The option’s stated exercise price is $9.07 per ADS. The grant was approved by the Compensation Committee and Board on May 29, 2025 and was subsequently approved by shareholders on August 21, 2025. The option vests over four annual installments: 20% on each of May 29, 2026, 2027 and 2028, and 40% on May 29, 2029.

Positive

• Option grant was approved by the Compensation Committee and Board on May 29, 2025 and subsequently approved by shareholders on August 21, 2025
• Award size is specified: the option covers 4,105 ADSs, with clear vesting dates and schedule
• Terms disclosed clearly: exercise price of $9.07 per ADS and vesting installments on May 29 of 2026, 2027, 2028 and 2029

Negative

• None.

Insights

Securities Analyst

TL;DR: Director received a time‑based option for 4,105 ADSs at a $9.07 exercise price, subject to staged vesting and shareholder approval.

The filing documents a standard equity compensation award to a director, approved by both the Compensation Committee and the Board and ratified by shareholders. Key contractual terms disclosed include the number of ADSs (4,105), the per‑ADS exercise price ($9.07), and a four‑year vesting schedule with final 40% vesting in year four. This is a routine director compensation disclosure rather than a transaction indicating immediate economic transfer.

Corporate Governance Expert

TL;DR: Governance process followed: committee and board approval, then shareholder ratification for the option grant.

The document shows corporate governance steps were taken for the equity award: Compensation Committee and Board approval on May 29, 2025 and shareholder approval on August 21, 2025. Vesting terms are time‑based across four installments, which is consistent with retention incentives for a director. The disclosure is specific about form (ADS denominated, 35 ordinary shares per ADS) and direct ownership form.

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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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^*

Leong Natalie Ee Mun

(Last) (First) (Middle)

C/O QUOIN PHARMACEUTICALS LTD.,

42127 PLEASANT FOREST COURT

(Street)

ASHBURN VA 20148

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Quoin Pharmaceuticals, Ltd. [ QNRX ]

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)
08/21/2025

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
Share Option (Right to Buy)	$9.07(1)	08/21/2025(2)		A		4,105(1)		(3)	05/28/2035	ADS(1)	4,105(1)	$0	4,105(1)	D

Explanation of Responses:

1. The number of securities underlying the option and the exercise price are listed in terms of American Depositary Shares ("ADSs"). Each ADS represents thirty-five ordinary shares of the Issuer.

2. The option grant was approved by the Compensation Committee and the Board on May 29, 2025, subject to shareholder approval. The Company's shareholder's approved this option grant on August 21, 2025.

3. The option vests in four annual installments with 20% vesting on each of May 29, 2026, 2027 and 2028 and 40% vesting on May 29, 2029.

	/s/ Natalie Leong	08/25/2025
	** 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 option did Natalie Leong report on Quoin Pharmaceuticals (QNRX)?

She reported an option grant covering 4,105 ADSs with an exercise price of $9.07 per ADS, reported on 08/21/2025.

When were the option grant and shareholder approval for the QNRX grant executed?

The Compensation Committee and Board approved the grant on May 29, 2025, and shareholders approved it on August 21, 2025.

What is the vesting schedule for the option reported on Form 4 for QNRX?

The option vests over four installments: 20% on each of May 29, 2026, 2027, 2028 and 40% on May 29, 2029.

How are the ADSs defined in the filing for QNRX?

The filing states each ADS represents thirty‑five ordinary shares of the issuer.

Is the ownership form direct or indirect for the reported option?

The filing indicates the ownership form is reported as Direct (D) following the transaction.