Adagene Inc. — Director's Dealing 2026

Mar 17, 2026

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Adagene Inc. (ADAG)
CIK: 0001818838
Period of Report: 2026-03-17

Reporting Person: Grawunder Ulf (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Ordinary Shares	25000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Nonqualified Stock Options	$2.26	2034-04-08	ADAG Ordinary Shares (40000)		Direct
Nonqualified Stock Options	$2.032	2036-02-05	ADAG Ordinary Shares (25000)		Direct

Footnotes

F1: 40,000 of time-based stock option granted on 4/8/2024 under the Adagene Inc. 2021 Performance Incentive Plan and became exercisable with respect to 50% of the shares on each of the first second anniversaries of the date of the grant, accordingly, 20,000 shares subject to this option are vested and be exercisable.

F2: 25,000 of time-based stock option granted on 2/5/2026 under the Adagene Inc. 2021 Performance Incentive Plan and became exercisable with respect to 25% of the shares on each of the first four anniversaries of the date of the grant