Michael H. Davidson - 09 Jan 2026 Form 4 Insider Report for TENAX THERAPEUTICS, INC. (TENX)

Role: Director
Signature: /s/ S. Halle Vakani, as Attorney-in-Fact
Issuer symbol: TENX
Transactions as of: 09 Jan 2026
Net transactions value: $0
Form type: 4
Filing time: 13 Jan 2026, 21:49:18 UTC
Previous filing: 09 Jan 2026
Next filing: 26 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Davidson Michael H.	Director	101 GLEN LENNOX DRIVE SUITE 300, CHAPEL HILL	/s/ S. Halle Vakani, as Attorney-in-Fact	13 Jan 2026	0001573785

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	TENX	Common Stock						2,881	09 Jan 2026	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TENX	Stock Option (right to buy)	Award	$0	+30,000	$0.000000	30,000	09 Jan 2026	Common Stock	30,000	$13.30	Direct
holding	TENX	Stock Option (right to buy)					4	09 Jan 2026	Common Stock	4	$3200.00	Direct
holding	TENX	Stock Option (right to buy)					4	09 Jan 2026	Common Stock	4	$992.00	Direct
holding	TENX	Stock Option (right to buy)					100,000	09 Jan 2026	Common Stock	100,000	$5.94	Direct
holding	TENX	Stock Option (right to buy)					80,000	09 Jan 2026	Common Stock	80,000	$5.75	Direct
holding	TENX	Pre-Funded Warrant					47,500	09 Jan 2026	Common Stock	47,500	$0.0100	Direct	F1
holding	TENX	Warrant					25,000	09 Jan 2026	Common Stock	25,000	$4.50	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The pre-funded warrant has no expiration date.
F2	The warrant will expire on the earlier of (i) thirty (30) trading days following the date of the Issuer's initial public announcement of topline data from its Phase 3 LEVEL Study (LEVosimendan to Improve Exercise Limitation in PH-HFpEF Patients) ( NCT05983250 ) (the "Topline Data Announcement"); (ii) proportionally upon the exercise of the Reporting Person's pre-funded warrant issued on August 8, 2024, if such exercise is prior to the Topline Data Announcement; and (iii) August 8, 2029.

Content

The pre-funded warrant has no expiration date.

The warrant will expire on the earlier of (i) thirty (30) trading days following the date of the Issuer's initial public announcement of topline data from its Phase 3 LEVEL Study (LEVosimendan to Improve Exercise Limitation in PH-HFpEF Patients) ( NCT05983250 ) (the "Topline Data Announcement"); (ii) proportionally upon the exercise of the Reporting Person's pre-funded warrant issued on August 8, 2024, if such exercise is prior to the Topline Data Announcement; and (iii) August 8, 2029.