RedHill Biopharma (NASDAQ: RDHL) CCO Scruggs files Form 3 detailing large equity stake

Rhea-AI Filing Summary

RedHill Biopharma Ltd. director and Chief Commercial Officer Rick D. Scruggs filed an initial Form 3 disclosing his holdings in the company. As of the filing, he directly owns 312,500,000 Ordinary Shares, along with American Depositary Shares (ADSs) and equity awards linked to additional Ordinary Shares.

His equity-based compensation includes 31,250 unvested restricted share units, each tied to one ADS and settled in Ordinary Shares, plus 7,364 ADSs that are convertible at any time with no expiration date. He also holds fully vested stock options covering 750,000, 300,000, 70,000 and 840,000 Ordinary Shares, each granted under the RedHill 2010 Option Plan with exercise prices per ADS of $6,840, $7,000, $7,000 and $6,620, expiring between February 25, 2029 and July 25, 2031.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Scruggs Rick D

(Last) (First) (Middle)

21 HA'ARBA'A STREET

(Street)

TEL AVIV 6473921

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
RedHill Biopharma Ltd. [ RDHL ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Commercial Officer

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares	312,500,000(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
American Depositary Shares	(2)	(2)	Ordinary Shares	73,640,000	(2)	D
Stock Option (Right to Buy)	(3)	(3)	Ordinary Shares	750,000	(3)	D
Stock Option (Right to Buy)	(4)	(4)	Ordinary Shares	300,000	(4)	D
Stock Option (Right to Buy)	(5)	(5)	Ordinary Shares	70,000	(5)	D
Stock Option (Right to Buy)	(6)	(6)	Ordinary Shares	840,000	(6)	D

Explanation of Responses:

1. RepresentsIncludes 31,250 unvested restricted share units ("RSUs"), each with respect to one American Depositary Share ("ADS"), which represents 10,000 ordinary shares, par value NIS 0.01 per share ("Ordinary Shares"), of RedHill Biopharma Inc. (the "Issuer"). The RSUs are subject to time-based vesting conditions and are settled in Ordinary Shares.

2. Represents 7,364 ADSs, which are convertible at any time, at the holder's election and have no expiration date.

3. Represents stock option to purchase 750,000 Ordinary Shares (equivalent to 75 ADSs), issued to the reporting person pursuant to the RedHill 2010 Option Plan. The shares underlying this stock option are fully vested and exercisable. The exercise price of this stock option is $6,840 per ADS and the option expires on May 4, 2030.

4. Represents stock option to purchase 300,000 Ordinary Shares (equivalent to 30 ADSs), issued to the reporting person pursuant to the RedHill 2010 Option Plan. The shares underlying this stock option are fully vested and exercisable. The exercise price of this stock option is $7,000 per ADS and the option expires on February 25, 2029.

5. Represents stock option to purchase 70,000 Ordinary Shares (equivalent to 7 ADSs), issued to the reporting person pursuant to the RedHill 2010 Option Plan. The shares underlying this stock option are fully vested and exercisable. The exercise price of this stock option is $7,000 per ADS and the option expires on May 6, 2029.

6. Represents stock option to purchase 840,000 Ordinary Shares (equivalent to 84 ADSs), issued to the reporting person pursuant to the RedHill 2010 Option Plan. The shares underlying this stock option are fully vested and exercisable. The exercise price of this stock option is $6,620 per ADS and the option expires on July 25, 2031.

	/s/ Rick Scruggs	03/18/2026
	** 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 5 (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.
* Form 3: SEC 1473 (03-26)

FAQ

What does Rick D. Scruggs disclose in his Form 3 for RDHL?

Rick D. Scruggs discloses his initial ownership in RedHill Biopharma. He reports 312,500,000 Ordinary Shares held directly, plus ADSs, unvested restricted share units, and several fully vested stock option grants over additional Ordinary Shares under the company’s 2010 Option Plan.

How many RedHill Biopharma ordinary shares does Scruggs directly own?

Scruggs directly owns 312,500,000 Ordinary Shares of RedHill Biopharma. This figure reflects his reported common equity stake, separate from any American Depositary Shares, restricted share units, or stock options that provide rights to acquire additional Ordinary Shares in the future.

What restricted share units (RSUs) does Scruggs hold in RDHL?

Scruggs holds 31,250 unvested restricted share units linked to ADSs. Each RSU relates to one American Depositary Share representing Ordinary Shares of RedHill Biopharma. These RSUs vest over time based on time-based conditions and are settled in Ordinary Shares when they vest.

What American Depositary Shares (ADSs) are reported for Scruggs at RedHill Biopharma?

Scruggs reports holding 7,364 American Depositary Shares. The filing notes these ADSs are convertible into Ordinary Shares at any time at the holder’s election and have no expiration date, giving him ongoing flexibility to maintain or adjust this ADS position.

What stock options over RedHill Biopharma shares does Scruggs hold?

Scruggs holds four fully vested stock option grants over Ordinary Shares. These options cover 750,000, 300,000, 70,000 and 840,000 Ordinary Shares, all issued under the RedHill 2010 Option Plan with specified exercise prices per ADS and expirations between 2029 and 2031.

Are Scruggs’ stock options in RDHL vested and exercisable?

All reported stock options for Scruggs are fully vested and exercisable. Each option grant under the RedHill 2010 Option Plan is currently exercisable at its stated exercise price per ADS and remains outstanding until its respective expiration date between 2029 and 2031.