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Regencell Bioscience (RGC) insiders extend share lock-up through April 2027

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Form Type
6-K

Rhea-AI Filing Summary

Regencell Bioscience Holdings Limited has extended the lock-up period for directors and employees who previously received stock options. All such employees agreed that 100% of their shares and vested options will remain locked up for an additional 12 months, until April 20, 2027. Directors agreed that between 82% and 92% of their shares and vested options will also remain subject to this extended lock-up over the same period. A standard form of this fifth lock-up extension is included as an exhibit and is governed by New York law.

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Insights

Extended insider lock-up limits potential share sales until April 2027.

Regencell Bioscience Holdings Limited is extending lock-up commitments for directors and employees with stock options by twelve months, to April 20, 2027. Employees keep 100% of their shares and vested options locked, while directors keep 82%–92% locked over this period.

This arrangement reduces the amount of insider-held equity that can be sold into the market, which can influence trading dynamics and perceived alignment between insiders and outside shareholders. The form agreement allows a limited percentage of vested options and related shares to be transferred, though the sample text leaves this percentage blank.

The lock-up extension is framed as a fifth extension and is governed by New York law. Future company filings covering periods that include April 20, 2027 may describe whether these restrictions are further extended, modified, or allowed to expire.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of February 2026

 

Commission File Number: 001-40617

 

Regencell Bioscience Holdings Limited

 

9/F Chinachem Leighton Plaza

29 Leighton Road

Causeway Bay, Hong Kong

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F         Form 40-F

 

 

 

 

 

Lock-up of Directors and Employees

 

Regencell Bioscience Holdings Limited today announced that all employees and directors who were previously granted stock options have agreed to a further lock-up undertaking for an additional 12 months, until April 20, 2027. Under this extended undertaking, 100% of each such employee’s shares and vested share options and 82% to 92% of each such director’s shares and vested share options will remain subject to the lock-up undertaking during the additional 12-month lock-up period. A form of the lock-up undertaking extension is attached hereto as Exhibit 99.1. Previously, all such directors and employees had signed lock-up undertakings and related extensions until April 20, 2026.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: February 13, 2026

 

  Regencell Bioscience Holdings Limited
     
  By: /s/ Yat-Gai Au
  Name: Yat-Gai Au
  Title: Chief Executive Officer and
Chairman of the Board of Directors

 

[Signature Page to Form 6-K]

 

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EXHIBIT INDEX

 

Exhibit No.   Description
99.1   Form of Letter of Lock-up Undertaking

 

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Exhibit 99.1

 

FORM OF Fifth EXTENSION OF letter of Lock-Up Undertaking

 

Date:

 

From:(the “Optionee”)

 

To:Regencell Bioscience Holdings Limited (the “Company”)

 

References are made in this forth extension of the letter of lock-up undertaking (this “Fifth Extension of Lock-Up Undertaking”) to:

 

1.An agreement of option to purchase ordinary shares of Regencell Bioscience Holdings Limited dated June 9, 2021, under which the Company granted certain options (the “Options”) to purchase ordinary shares of the Company in the amounts set forth therein;

 

2.A letter of lock-up undertaking by the Optionee dated May 6, 2022, under which the Optionee undertook to the Company, within the period of one year and six months immediately following the closing of the initial public offering of the Company, not to, and to procure any entities controlled by the Optionee and any trusts of which the Optionee is a beneficiary not to, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant for the sale of, or otherwise transfer or dispose of any of the Options or shares issued upon exercise of the Options (the “Lock-Up Undertaking”);

 

3.A letter of lock-up undertaking by the Optionee dated October 12, 2022, under which the Optionee undertook to the Company to extend the Lock-Up Undertaking for an additional six months (the “First Extension of the Lock-Up Undertaking”);

 

4.A letter of lock-up undertaking by the Optionee dated April 19, 2023, under which the Optionee undertook to the Company to extend the Lock-Up Undertaking and the First Extension of the Lock-Up Undertaking for an additional six months (the “Second Extension of the Lock-Up Undertaking”);

 

5.A letter of lock-up undertaking by the Optionee dated November 24, 2023, under which the Optionee undertook to the Company to extend the Lock-Up Undertaking for an additional twelve months (the “Third Extension of the Lock-Up Undertaking”),

 

6.A letter of lock-up undertaking by the Optionee dated October 30, 2024, under which the Optionee undertook to the Company to extend the Lock-Up Undertaking for an additional fifteen months until April 20, 2026 (the “Fourth Extension of the Lock-Up Undertaking,” and together with the Lock-Up Undertaking, the First Extension of the Lock-Up Undertaking, the Second Extension of the Lock-Up Undertaking and the Third Extension of the Lock-Up Undertaking, the “Lock-Up Undertakings”).

 

For good and valuable consideration received by the Optionee from the Company, the Optionee hereby agrees to enter into this Fifth Extension of Lock-Up Undertaking to extend the Lock-Up Undertakings for an additional twelve months until April 20, 2027, except that during the term of this Fifth Extension of the Lock-Up Undertaking, the Optionee may offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant for the sale of, or otherwise transfer or dispose of up to                % of the Options that have been vested as of the date hereof (and the shares issued upon exercise of such Options).

 

The laws of New York shall govern the interpretation, validity, administration, enforcement, and performance of the terms of this Fifth Extension of Lock-Up Undertaking, regardless of the law that might be applied under principles of conflicts of laws.

 

[The remainder of this page is intentionally left blank]

 

 

 

In Witness Whereof, the Optionee has executed this letter agreement as of the date first set forth above.

 

_______________________________

 

Acknowledged by
Regencell Bioscience Holdings Limited

 

_______________________________

Yat-Gai Au

Chief Executive Officer

 

Signature Page of Fifth Extension of Letter of Lock-Up Undertaking

 

FAQ

What did Regencell Bioscience (RGC) announce regarding insider lock-ups?

Regencell Bioscience extended lock-up agreements for directors and employees with stock options for twelve more months, until April 20, 2027. This means most insider-held shares and vested options remain restricted from sale for that additional period, limiting potential insider selling activity.

How much of employees’ equity is locked under Regencell (RGC)’s new undertaking?

Under the extended undertaking, 100% of each covered employee’s shares and vested stock options will remain locked until April 20, 2027. This full restriction continues prior lock-ups, aiming to keep employee-held equity off the open market during the additional twelve-month period.

What portion of directors’ shares are locked at Regencell Bioscience (RGC)?

Directors agreed that between 82% and 92% of their shares and vested stock options will stay subject to the lock-up through April 20, 2027. This leaves only a small portion potentially transferable, while the majority remains restricted under the extended commitment.

When do the extended lock-up agreements at Regencell (RGC) expire?

The extended lock-up agreements for Regencell’s directors and employees run for an additional twelve months, expiring on April 20, 2027. These extensions follow prior lock-ups that had been scheduled to run until April 20, 2026, effectively adding another year of restrictions.

Which law governs Regencell Bioscience (RGC)’s fifth lock-up extension form?

The form of the fifth extension of the lock-up undertaking for Regencell’s option holders is governed by the laws of New York. The agreement specifies New York law for interpretation, validity, administration, enforcement, and performance of its terms between the company and each optionee.

Is there a standard form for Regencell (RGC) employees and directors to extend lock-ups?

Yes. A standard form titled the Fifth Extension of Lock-Up Undertaking is provided as an exhibit. Individual optionees execute this letter to extend their existing lock-up by twelve months, confirming the percentages of vested options and related shares that remain restricted until April 20, 2027.

Filing Exhibits & Attachments

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