Ulf Grawunder - 17 Mar 2026 Form 3 Insider Report for Adagene Inc. (ADAG)

Role: Director
Signature: Ulf Grawunder
Issuer symbol: ADAG
Transactions as of: 17 Mar 2026
Net transactions value: $0
Form type: 3
Filing time: 17 Mar 2026, 08:56:17 UTC
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Grawunder Ulf	Director	RUETENENSTRASSE 41, BECKENRIED, SWITZERLAND	Ulf Grawunder	17 Mar 2026	0002120696

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	ADAG	Ordinary Shares						25,000	17 Mar 2026	Direct

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

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	ADAG	Nonqualified Stock Options							17 Mar 2026	ADAG Ordinary Shares	40,000	$2.26	Direct	F1
holding	ADAG	Nonqualified Stock Options							17 Mar 2026	ADAG Ordinary Shares	25,000	$2.03	Direct	F2

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

Explanation of Responses:

Id	Content
F1	40,000 of time-based stock option granted on 4/8/2024 under the Adagene Inc. 2021 Performance Incentive Plan and became exercisable with respect to 50% of the shares on each of the first second anniversaries of the date of the grant, accordingly, 20,000 shares subject to this option are vested and be exercisable.
F2	25,000 of time-based stock option granted on 2/5/2026 under the Adagene Inc. 2021 Performance Incentive Plan and became exercisable with respect to 25% of the shares on each of the first four anniversaries of the date of the grant