[Form 4] Scilex Holding Co Insider Trading Activity

Rhea-AI Filing Summary

Scilex Holding Co (SCLX) director Wu Yue Alexander received a grant of 20,000 nonstatutory stock options on 10/08/2025 with an exercise price of $17.58. The options vest in equal monthly installments of 1/48th of the total each month, conditional on continued service, and have an expiration tied to 10/08/2035. The filing was submitted on 10/09/2025 by an attorney-in-fact. This transaction increases the reporting person’s direct potential to acquire 20,000 shares if the options are exercised, and establishes a multi-year incentive linked to continued board service.

Insights

Corporate Governance Analyst

Director option grant ties compensation to multi-year service.

The grant of 20,000 nonstatutory options creates a long-term incentive for continued service through monthly vesting of 1/48th after the grant date. The structure aligns the director’s economic interest with shareholders only if the options become exercisable and underlying shares gain value above the $17.58 strike.

The primary dependency is continued service until each monthly vesting date; termination before vesting would forfeit unvested tranches. Monitor exercise behavior and any future filings that report exercises or cancellations over the next decade ending 10/08/2035.

Compensation & Dilution Specialist

Grant is modestly dilutive but material to equity pool sizing.

The award grants the right to acquire 20,000 common shares if exercised, which increases potential share count and could dilute existing holders depending on the company’s outstanding base. The filing shows direct beneficial ownership of 20,000 options post-grant.

Key near-term items to watch include subsequent Form 4s disclosing exercises or cancellations and any disclosures on the total option pool size relative to outstanding shares to assess dilution impact within the next 12–36 months.

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

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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^*

Wu Yue Alexander

(Last) (First) (Middle)

C/O SCILEX HOLDING COMPANY

960 SAN ANTONIO ROAD

(Street)

PALO ALTO CA 94303

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Scilex Holding Co [ SCLX ]

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)
10/08/2025

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
Nonstatutory Stock Option (right to buy)	$17.58	10/08/2025		A		20,000		(1)	10/08/2035	Common Stock	20,000	$0	20,000	D

Explanation of Responses:

1. 1/48th of the shares subject to the option shall vest on a monthly basis following the grant date, subject to the Reporting Person's continued service to the Issuer through each such vesting date.

	/s/ Stephen Ma, as Attorney-in-Fact	10/09/2025
	** 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).
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