FENNEC PHARMACEUTICALS INC. — Director's Dealing 2023

Apr 3, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FENNEC PHARMACEUTICALS INC. (FENC)
CIK: 0001211583
Period of Report: 2023-03-31

Reporting Person: Raykov Rosty (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-31	Stock Option	$8.32	A	175000	Acquired	2033-03-31	Common shares (175000)	Direct
2023-03-31	Restricted Share Unit	$0	A	87500	Acquired	2033-03-31	Common shares (87500)	Direct

Footnotes

F1: On March 31, 2023, Rostislav Raykov was granted incentive stock options to purchase 175,000 shares of the issuers common shares pursuant to the issuer's 2020 Equity Incentive Plan.

F2: 1/3 of the shares subject to this option shall vest immediately and may be exercised as of March 31, 2024 (the "Vesting Commencement Date"). 1/24 of the shares subject to this option shall vest immediately and may be exercised as of the last day of each month following the Vesting Commencement Date. As of March 31, 2026 and thereafter, 100% of the total number of shares subject to this option shall be vested.

F3: On March 31, 2023, Rostislav Raykov was awarded restricted share units to receive 87,500 shares of the Issuer's common shares pursuant to the Issuer's 2020 Equity Incentive Plan.

F4: 1/3 of the shares subject to this award shall be released from restriction as of March 31, 2024 (the "Vesting Commencement Date"). 1/24 of the award shall be released from restriction as of the last day of each month following the Vesting Commencement Date. As of March 31, 2026 and thereafter, 100% of the total number of shares subject to this award shall be released.