[Form 4] FENNEC PHARMACEUTICALS INC. Insider Trading Activity

Rhea-AI Filing Summary

Andrade Robert reported acquisition or exercise transactions in this Form 4 filing.

FENNEC PHARMACEUTICALS INC. reported insider equity awards for Chief Financial Officer Robert Andrade. On March 31, 2026, he received incentive stock options to purchase 120,000 common shares at $5.77 per share under the 2020 Equity Incentive Plan, vesting monthly from March 31, 2027 until March 31, 2029.

On the same date, 14,724 common shares were issued from settlement of PSUs that vested, and 2,213 common shares were released from restriction from prior awards. On March 28, 2026, 12,270 additional common shares were released from restriction from a 2025 award. Following these transactions, he directly holds 273,593 common shares and 921,045 stock options.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Andrade Robert

Role CHIEF FINANCIAL OFFICER

Type	Security	Shares	Price	Value
Grant/Award	Stock Options	120,000	$5.77	$692K
Exercise	Common shares	14,724	$0.00	--
Exercise	Common shares	2,213	$0.00	--
Exercise	Common shares	12,270	$0.00	--

Holdings After Transaction: Stock Options — 921,045 shares (Direct); Common shares — 271,380 shares (Direct)

Footnotes (1)

1. Represents settlement of PSUs that vested on March 31, 2026. Represents shares released from restriction from shares awarded 3/31/2023 and 5/16/2024. Represents shares released from restriction from shares awarded 3/28/2025. 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. 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.

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
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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^*

Andrade Robert

(Last) (First) (Middle)

C/O FENNEC PHARMACEUTICALS, INC.

PO BOX 13628, 68 TW ALEXANDER DRIVE

(Street)

RESEARCH TRIANGLE PARK NORTH CAROLINA 27709

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FENNEC PHARMACEUTICALS INC. [ FENC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF FINANCIAL OFFICER

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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 shares(1)	03/31/2026		M		14,724	A	$0	271,380	D
Common shares(2)	03/31/2026		M		2,213	A	$0	273,593	D
Common shares(3)	03/28/2026		M		12,270	A	$0	285,863	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 Options(4)	$5.77	03/31/2026		A		120,000		03/31/2027(5)	03/31/2036	Options	120,000	$5.77	921,045	D

Explanation of Responses:

1. Represents settlement of PSUs that vested on March 31, 2026.

2. Represents shares released from restriction from shares awarded 3/31/2023 and 5/16/2024.

3. Represents shares released from restriction from shares awarded 3/28/2025.

4. 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.

5. 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.

	/s/ Robert Andrade	04/02/2026
	** 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.
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* Form 4: SEC 1474 (03-26)