Cioffi Christiana Marie 4
4 · FENNEC PHARMACEUTICALS INC. · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Fennec (FENC) CSO Christiana Cioffi Exercises Shares, Receives Option Grant
What Happened
Christiana Marie Cioffi, Chief Strategy Officer of Fennec Pharmaceuticals (FENC), acquired 19,165 shares through exercise/conversion of derivatives (reported as $0 cost) tied to vested awards and released restricted shares, and on March 31, 2026 was granted incentive stock options to purchase 120,000 shares at a $5.77 exercise price (aggregate strike value $692,400). The exercised/converted shares reflect PSU settlements and releases of previously awarded restricted shares; the 120,000-share item is a new option grant, not an immediate market purchase.
Key Details
- Transactions reported:
- 2026-03-28: Exercise/conversion (M) — 1,901 shares @ $0.00 (acquired) — footnote: release of award from 3/28/2025 (F2).
- 2026-03-31: Exercise/conversion (M) — 17,106 shares @ $0.00 (acquired) — footnote: settlement of PSUs that vested 3/31/2026 (F1).
- 2026-03-31: Exercise/conversion (M) — 158 shares @ $0.00 (acquired).
- 2026-03-31: Grant/award (A) — 120,000 incentive stock options @ $5.77 (strike) — reported aggregate $692,400 (F3).
- Vesting for the 120,000 options: 1/3 exercisable 3/31/2027; thereafter one‑twenty‑fourth vests monthly; fully vested by 3/31/2029 (F4).
- Shares owned after the transactions: not specified in the provided filing details.
- Filing: Form 4 filed with accession 0002043411-26-000004 on April 2, 2026, reporting the Mar 28 and Mar 31 transactions.
Context
The 19,165-share acquisitions were settlements/releases of compensation awards (PSUs/RSUs), recorded at $0 cash price to the insider — these are compensation events, not open-market purchases. The 120,000‑share item is an option grant (a future right to buy shares at $5.77) with multi-year vesting; options are not immediately exercisable in full and are not the same as an outright purchase. These filings are factual disclosures of insider compensation/award activity and do not by themselves indicate intent to buy or sell stock in the market.
Insider Transaction Report
- Exercise/Conversion
Common shares
[F1]2026-03-31+17,106→ 21,806 total - Exercise/Conversion
Common shares
[F2]2026-03-31+158→ 21,964 total - Exercise/Conversion
Common shares
[F2]2026-03-28+1,901→ 23,865 total - Award
Stock Options
[F3][F4]2026-03-31$5.77/sh+120,000$692,400→ 265,300 totalExercise: $5.77From: 2027-03-31Exp: 2036-03-31→ Common Shares (120,000 underlying)
Footnotes (4)
- [F1]Represents settlement of PSUs that vested on March 31, 2026.
- [F2]Represents shares released from restriction from shares awarded 3/28/2025.
- [F3]On March 31, 2026, granted incentive stock options to purchase 120,000 shares of the issuers common shares pursuant to the Issuer's 2020 Equity Incentive Plan.
- [F4]One-third of the shares subject to this option may be exercised as of March 31, 2027 ("Vesting Commencement Date"). One twenty-fourth of the shares subject to this option shall vest and may be exercised as of the last day of each month following the Vesting Commencement Date. As of March 31, 2029, 100% of the total number of shares subject to this option shall be vested.