Tenax Therapeutics (TENX) director awarded 30,000 new stock options

Rhea-AI Filing Summary

Tenax Therapeutics director Declan Doogan reported a new stock option grant. The Form 4 shows that on 01/09/2026 he received a stock option to buy 30,000 shares of Tenax common stock at an exercise price of $13.3 per share. The option is shown as exercisable on 01/09/2027 and expiring on 01/09/2036, and is held directly.

In addition to this grant, the filing lists previously awarded stock options covering 100,000 shares exercisable from 12/10/2025 and 80,000 shares exercisable from 07/01/2026, along with two very small option positions of 4 shares each. Doogan also directly holds 2,274 shares of Tenax common stock following the reported transactions.

Insights

Equity compensation analyst

Routine director option grant with modest direct share ownership.

The filing shows Tenax Therapeutics granted director Declan Doogan a stock option over 30,000 shares at an exercise price of $13.3, exercisable from 01/09/2027 and expiring on 01/09/2036. This appears to be standard equity compensation for board service rather than a market transaction, since the option is granted at no cost but must be paid for upon exercise.

Doogan’s overall incentive alignment comes mainly from options, with larger existing grants over 100,000 and 80,000 shares that become exercisable starting 12/10/2025 and 07/01/2026. His direct common stock position is relatively small at 2,274 shares, so most of his exposure depends on future stock performance and eventual option exercises. As a result, this filing is best viewed as a routine update to his equity-based compensation, without a clear directional signal about his view of the company.

Insider Trade Summary

6 transactions reported

Mixed 6 txns

Insider Doogan Declan

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy)	30,000	$0.00	--
holding	Stock Option (right to buy)	--	--	--
holding	Stock Option (right to buy)	--	--	--
holding	Stock Option (right to buy)	--	--	--
holding	Stock Option (right to buy)	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option (right to buy) — 30,000 shares (Direct); Common Stock — 2,274 shares (Direct)

Footnotes (1)

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
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^*

Doogan Declan

(Last) (First) (Middle)

101 GLEN LENNOX DRIVE SUITE 300

(Street)

CHAPEL HILL NC 27517

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TENAX THERAPEUTICS, INC. [ TENX ]

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)
01/09/2026

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
Common Stock								2,274	D

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
Stock Option (right to buy)	$13.3	01/09/2026		A		30,000		01/09/2027	01/09/2036	Common Stock	30,000	$0	30,000	D
Stock Option (right to buy)	$3,200							06/10/2022	06/10/2031	Common Stock	4		4	D
Stock Option (right to buy)	$992							06/09/2023	06/09/2032	Common Stock	4		4	D
Stock Option (right to buy)	$5.94							12/10/2025	12/10/2034	Common Stock	100,000		100,000	D
Stock Option (right to buy)	$5.75							07/01/2026	07/01/2035	Common Stock	80,000		80,000	D

Explanation of Responses:

	/s/ S. Halle Vakani, as Attorney-in-Fact	01/13/2026
	** 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 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 insider transaction did Tenax Therapeutics (TENX) report for Declan Doogan?

The Form 4 reports that director Declan Doogan received a grant of stock options to buy 30,000 shares of Tenax Therapeutics common stock on 01/09/2026 at an exercise price of $13.3 per share.

How many Tenax stock options does Declan Doogan hold after this Form 4?

After the reported grant, the filing shows Doogan holding a newly granted option over 30,000 shares, plus existing stock options over 100,000 shares and 80,000 shares, along with two small option positions of 4 shares each.

What is the exercise price and term of Declan Doogans new Tenax options?

The new stock option has an exercise price of $13.3 per share, becomes exercisable on 01/09/2027, and expires on 01/09/2036, according to the filing.

How many Tenax Therapeutics common shares does Declan Doogan own directly?

The Form 4 shows Doogan directly beneficially owning 2,274 shares of Tenax Therapeutics common stock following the reported transactions.

Is Declan Doogan a director or officer of Tenax Therapeutics?

The filing identifies Declan Doogan as a director of Tenax Therapeutics and does not list him as an officer or 10% owner.