FENNEC PHARMACEUTICALS INC. - Director's Dealing 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FENNEC PHARMACEUTICALS INC. (FENC)
CIK: 0001211583
Period of Report: 2025-12-31

Reporting Person: Raykov Rosty (N/A)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-31	Common shares	A	5208	—	Acquired	82734	Direct
2026-01-02	Common shares	M	15598	$2.45	Acquired	98332	Direct
2026-01-02	Common shares	S	10312	$7.60	Disposed	88020	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-01-02	Stock Options	$2.45	M	15598	Disposed	2026-07-05	Options (15598)	Direct

F1: Represents shares released from restriction from shares awarded 3/31/2023 and 5/16/2024.

F2: Shares acquired through the exercise of an option pursuant to a 10b5-1 plan adopted on September 19, 2025.

F3: Shares sold to satisfy tax obligation on option exercise.

F4: Represents options exercised pursuant to a 10b5-1 plan adopted on September 19, 2025.