SEC Form 3 · accession 0001729510-26-000004

ADARx Pharmaceuticals, Inc. · ADRX

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Zhen Li

Officer — President and CEO · Director · 10% Owner

Period of report

Sep 24, 2026

Accepted (ET)

Sep 24, 2026 · 6:35 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001802369

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1	holding	—	—		—	5,861,199	I	By Trust

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Employee Stock Option (right to buy)^F2	$0.24	holding	—	—	—	—	Aug 19, 2030	Common Stock	1,171,325	—	D
Employee Stock Option (right to buy)^F3	$0.24	holding	—	—	—	—	Dec 6, 2030	Common Stock	327,378	—	D
Employee Stock Option (right to buy)^F4	$0.24	holding	—	—	—	—	Mar 18, 2031	Common Stock	320,500	—	D
Employee Stock Option (right to buy)^F5	$0.56	holding	—	—	—	—	May 20, 2031	Common Stock	845,726	—	D
Employee Stock Option (right to buy)^F6	$2.29	holding	—	—	—	—	Jul 29, 2031	Common Stock	710,541	—	D
Employee Stock Option (right to buy)^F7	$2.29	holding	—	—	—	—	Feb 22, 2032	Common Stock	436,715	—	D
Employee Stock Option (right to buy)^F8	$3.26	holding	—	—	—	—	Feb 25, 2033	Common Stock	436,715	—	D
Employee Stock Option (right to buy)^F9	$5.84	holding	—	—	—	—	Jan 16, 2034	Common Stock	773,085	—	D
Employee Stock Option (right to buy)^F10	$7.05	holding	—	—	—	—	Feb 11, 2035	Common Stock	426,730	—	D
Employee Stock Option (right to buy)^F11	$6.31	holding	—	—	—	—	Jan 27, 2036	Common Stock	443,799	—	D
Employee Stock Option (right to buy)^F12	$0.24	holding	—	—	—	—	Aug 19, 2030	Common Stock	17,069	—	I
Employee Stock Option (right to buy)^F13	$0.24	holding	—	—	—	—	Mar 18, 2031	Common Stock	12,801	—	I
Employee Stock Option (right to buy)^F14	$2.29	holding	—	—	—	—	Feb 22, 2032	Common Stock	8,534	—	I
Employee Stock Option (right to buy)^F15	$3.26	holding	—	—	—	—	Feb 25, 2033	Common Stock	6,827	—	I
Employee Stock Option (right to buy)^F16	$5.84	holding	—	—	—	—	Jan 16, 2034	Common Stock	5,120	—	I
Employee Stock Option (right to buy)^F17	$7.05	holding	—	—	—	—	Feb 11, 2035	Common Stock	5,120	—	I
Employee Stock Option (right to buy)^F18	$6.31	holding	—	—	—	—	Jan 27, 2036	Common Stock	12,801	—	I

Explanation of responses

F1The shares are held by the Reporting Person and her spouse as Trustees of the Titanium Boulder Irrevocable Trust dated July 11, 2020 (the "Titanium Trust"). The Reporting Person and her spouse share voting and dispositive power with respect to the securities held by the Titanium Trust.
F10Granted to the Reporting Person on February 12, 2025. 1/4 of the total number of shares vested and became exercisable on January 1, 2026 and the remaining shares vest and become exercisable in equal quarterly installments thereafter over a three-year period, subject to the Reporting Person's continued service to the Issuer on each vesting date.
F11Granted to the Reporting Person on January 28, 2026. 1/4 of the total number of shares vest and become exercisable on January 1, 2027 and the remaining shares vest and become exercisable in equal quarterly installments thereafter over a three-year period, subject to the Reporting Person's continued service to the Issuer on each vesting date.
F12Granted to the Reporting Person's spouse on August 20, 2020. The shares subject to the option are fully vested and exercisable.
F13Granted to the Reporting Person's spouse on March 19, 2021. The shares subject to the option are fully vested and exercisable.
F14Granted to the Reporting Person's spouse on February 23, 2022. The shares subject to the option are fully vested and exercisable.
F15Granted to the Reporting Person's spouse on February 26, 2023. 1/4 of the total number of shares vested and became exercisable on January 1, 2024 and the remaining shares vest and become exercisable in equal quarterly installments thereafter over a three-year period, subject to the Reporting Person's spouse's continued service to the Issuer on each vesting date.
F16Granted to the Reporting Person's spouse on January 17,2024. 1/4 of the total number of shares vested and became exercisable on January 1, 2025 and the remaining shares vest and become exercisable in equal quarterly installments thereafter over a three-year period, subject to the Reporting Person's spouse's continued service to the Issuer on each vesting date.
F17Granted to the Reporting Person's spouse on February 12, 2025. 1/4 of the total number of shares vested and became exercisable on January 1, 2026 and the remaining shares vest and become exercisable in equal quarterly installments thereafter over a three-year period, subject to the Reporting Person's spouse's continued service to the Issuer on each vesting date.
F18Granted to the Reporting Person's spouse on January 28, 2026. 1/4 of the total number of shares vest and become exercisable on January 1, 2027 and the remaining shares vest and become exercisable in equal quarterly installments thereafter over a three-year period, subject to the Reporting Person's spouse's continued service to the Issuer on each vesting date.
F2Granted to the Reporting Person on August 20, 2020. The shares subject to the option are fully vested and exercisable.
F3Granted to the Reporting Person on December 7, 2020. The shares subject to the option are fully vested and exercisable.
F4Granted to the Reporting Person on March 19, 2021. The shares subject to the option are fully vested and exercisable.
F5Granted to the Reporting Person on May 21, 2021. The shares subject to the option are fully vested and exercisable.
F6Granted to the Reporting Person on July 30, 2021. The shares subject to the option are fully vested and exercisable.
F7Granted to the Reporting Person on February 23, 2022. The shares subject to the option are fully vested and exercisable.
F8Granted to the Reporting Person on February 26, 2023. 1/4 of the total number of shares vested and became exercisable on January 1, 2024 and the remaining shares vest and become exercisable in equal quarterly installments thereafter over a three-year period, subject to the Reporting Person's continued service to the Issuer on each vesting date.
F9Granted to the Reporting Person on January 17, 2024. 1/4 of the total number of shares vested and became exercisable on January 1, 2025 and the remaining shares vest and become exercisable in equal quarterly installments thereafter over a three-year period, subject to the Reporting Person's continued service to the Issuer on each vesting date.

Remarks

Exhibit 24 - Power of Attorney