FENNEC PHARMACEUTICALS INC. (OTCMKTS:FENCF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
Amendment to Stock Option Plan
As further described under Item 5.07 below, on June 18, 2019, the shareholders of Fennec Pharmaceuticals Inc. (“Fennec” or the “Company”) approved an amendment (the “Amendment”) to the Company’s Amended and Restated Stock Option Plan (as amended, the “Stock Option Plan”) providing that stock options granted under the Plan may have a maximum exercise period of up to ten (10) years. Prior to the Amendment, the maximum exercise period for stock options granted under the Plan was up to eight (8) years. The Amendment was also previously approved by Fennec’s Board of Directors, subject to subsequent shareholder approval of the Amendment.
A complete copy of the Plan is attached hereto as Exhibit 10.1 and is incorporated herein by reference. The foregoing description of the Plan is qualified in its entirety by reference to the complete text of the Plan.
Extension of Outstanding Options
As further described under Item 5.07 below, on June 18, 2019, the shareholders of Fennec approved an extension of the exercise period of outstanding stock options held by Fennec’s officers and directors to the ten (10) year anniversary of the respective grant date of the stock options. The following table shows the impact of this extension on outstanding stock options held by Fennec’s officers and directors.
On June 18, 2019, the Company held an annual and special meeting of shareholders (the “Meeting”). The shareholders approved all proposals considered at the Meeting and approved all nominees of the Company for director, as follows:
1. The following five (5) nominees were elected to serve as directors, each to serve until the next annual meeting of shareholders of the Company or until their respective successor shall have been duly elected or duly approved:
| 10.1 | Fennec Pharmaceuticals Inc. Amended and Restated Stock Option Plan (as amended on June 18, 2019). |
FENNEC PHARMACEUTICALS INC. Exhibit
EX-10.1 2 tv523883_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 FENNEC PHARMACEUTICALS INC. AMENDED AND RESTATED STOCK OPTION PLAN PLAN DESCRIPTION 1.Purpose of the Plan The purpose of the Fennec Pharmaceuticals Inc. Amended and Restated Stock Option Plan is to develop the interest and incentive of eligible employees,…
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About FENNEC PHARMACEUTICALS INC. (OTCMKTS:FENCF)
Fennec Pharmaceuticals Inc., formerly Adherex Technologies Inc., is a biopharmaceutical company focused on cancer therapeutics. The Company’s lead product candidate in the clinical stage of development includes Sodium Thiosulfate (STS), which has completed patient enrollment of over two Phase III clinical trials for the prevention of cisplatin induced hearing loss, or ototoxicity in children. STS has been studied by cooperative groups in over two Phase III clinical studies of survival and reduction of ototoxicity, The Clinical Oncology Group Protocol ACCL0431 and SIOPEL 6. The Children’s Oncology Group (COG) ACCL0431 protocol enrolled 20% childhood cancers typically treated with intensive cisplatin therapy for localized and disseminated disease, including hepatoblastoma, germ cell tumor, osteosarcoma, neuroblastoma and medulloblastoma. SIOPEL 6 enrolled only hepatoblastoma patients with localized tumors.