Michael H. Davidson - Jul 1, 2025 Form 4 Insider Report for TENAX THERAPEUTICS, INC. (TENX)

Role: Director
Signature: /s/ S. Halle Vakani, as Attorney-in-Fact
Stock symbol: TENX
Transactions as of: Jul 1, 2025
Transactions value $: $0
Form type: 4
Date filed: 7/3/2025, 08:13 AM
Previous filing: Jun 9, 2025
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	2025-07-03	0001573785

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	TENX	Common Stock						2.88K	Jul 1, 2025	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	+80K	$0.00	80K	Jul 1, 2025	Common Stock	80K	$5.75	Direct
holding	TENX	Stock Option (right to buy)					4	Jul 1, 2025	Common Stock	4	$3,200.00	Direct
holding	TENX	Stock Option (right to buy)					4	Jul 1, 2025	Common Stock	4	$992.00	Direct
holding	TENX	Stock Option (right to buy)					100K	Jul 1, 2025	Common Stock	100K	$5.94	Direct
holding	TENX	Pre-Funded Warrant					47.5K	Jul 1, 2025	Common Stock	47.5K	$0.01	Direct	F1
holding	TENX	Warrant					25K	Jul 1, 2025	Common Stock	25K	$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.