[Form 4] Scilex Holding Co Insider Trading Activity

Rhea-AI Filing Summary

Director Chun Jay received a grant of a nonstatutory stock option to purchase 20,000 shares of common stock with an exercise price of $17.58. The option was granted on 10/08/2025, vests at 1/48th per month following the grant subject to continued service, and expires on 10/08/2035. The filing was reported on Form 4 by an attorney-in-fact on 10/09/2025. The option is held directly and the reported exercise price for the underlying shares is shown as $0 in the table for the resulting common stock record (the derivative itself lists $17.58 as the conversion/exercise price).

Positive

• 20,000-share option grant to a director indicates alignment of incentives
• Monthly vesting (1/48th) encourages continued service over a multi-year period
• Long expiration (10/08/2035) gives flexibility for long-term alignment

Negative

• None.

Insights

Compensation & Governance Analyst

Grant aligns a director with shareholder value over a multi-year vesting schedule.

The award of a 20,000-share nonstatutory option with an exercise price of $17.58 vests monthly at 1/48th increments, tying potential upside to sustained service through the vesting period starting 10/08/2025. The option expires on 10/08/2035, providing a long horizon for exercise.

The main governance dependencies are continued service for vesting and eventual exercise decisions by the director; dilution occurs only if options are exercised. Monitor reported outstanding equity counts and future Form 4s for exercises or additional grants within the next 12/2026 year to assess cumulative compensation dilution.

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^*

Chun Jay

(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).
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 did Scilex Holding Co (SCLX) disclose on Form 4?

The Form 4 reports that director Chun Jay was granted a nonstatutory option for 20,000 shares at an exercise price of $17.58 on 10/08/2025.

What is the vesting schedule for the option reported for SCLX?

The option vests at 1/48th of the shares per month following the grant date, subject to continued service.

When does the option expire?

The option has an expiration date of 10/08/2035.

How was the Form 4 filed and when was it signed?

The Form 4 was reported via an attorney-in-fact (Stephen Ma) and dated 10/09/2025.

Is the reported option held directly or indirectly?

The filing indicates the reported ownership form is Direct.