Form 4: Catalyst Pharma Director Boosts Equity Holdings

Catalyst Pharmaceuticals Director David S. Tierney reported new equity awards and the vesting of restricted stock units, increasing his beneficial ownership.

Summary

• David S. Tierney, a Director at Catalyst Pharmaceuticals, Inc. (CPRX), reported changes in his beneficial ownership.
• On November 21, 2025, Tierney acquired 947 shares of common stock, par value $0.001 per share, through the vesting and delivery of restricted stock units.
• Following this transaction, his direct beneficial ownership of common stock stands at 380,567 shares.
• On November 20, 2025, Tierney was granted 18,115 options to purchase common stock with an exercise price of $22.77, expiring on November 20, 2032. These options vest in three equal annual tranches starting November 20, 2026.
• Also on November 20, 2025, Tierney was granted 5,468 Restricted Stock Units (RSUs), which vest in three equal annual tranches starting November 20, 2026.
• On November 21, 2025, 947 Restricted Stock Units vested and were converted into common stock. These RSUs had a vesting schedule of 1/3rd on November 21, 2025, 1/3rd on November 21, 2026, and 1/3rd on November 21, 2027, with the first tranche delivered on November 21, 2025.
• Following these derivative transactions, Tierney beneficially owns 176,389 options and 180,910 Restricted Stock Units.

Sentiment

Score: 6

Explanation: The filing reports routine equity compensation for a director, including new option and RSU grants and the vesting of existing RSUs. This is a standard practice to align management interests with shareholders and is generally viewed as neutral to slightly positive, indicating ongoing commitment and compensation structure.

Positives

• Director David S. Tierney received new equity awards, including 18,115 options and 5,468 Restricted Stock Units, aligning his interests with shareholders.
• The vesting of 947 Restricted Stock Units into common stock increases the director's direct ownership in the company.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future performance or strategic outlook.

Industry Context

This filing is a routine disclosure of insider equity transactions, common across all publicly traded companies, and does not provide specific industry context for Catalyst Pharmaceuticals.

Related Party Transactions

• The equity awards (options and restricted stock units) granted to Director David S. Tierney represent compensation from the company, which is a standard related-party transaction in the context of executive and director compensation.

Stakeholder Impact

• Shareholders: The granting of equity awards to a director aligns their financial interests with those of shareholders, potentially incentivizing long-term performance. The increase in beneficial ownership also signals continued commitment.

Next Steps

• Vesting of 1/3rd of 18,115 options on November 20, 2026.
• Vesting of 1/3rd of 5,468 Restricted Stock Units on November 20, 2026.
• Vesting of 1/3rd of the remaining 947 Restricted Stock Units on November 21, 2026.
• Vesting of 1/3rd of 18,115 options on November 20, 2027.
• Vesting of 1/3rd of 5,468 Restricted Stock Units on November 20, 2027.
• Vesting of 1/3rd of the remaining 947 Restricted Stock Units on November 21, 2027.
• Vesting of 1/3rd of 18,115 options on November 20, 2028.
• Vesting of 1/3rd of 5,468 Restricted Stock Units on November 20, 2028.
• Delivery of shares of common stock to the reporting person upon vesting of RSUs.

Key Dates

Keywords

Catalyst Pharmaceuticals, CPRX, Form 4, Insider Trading, Director, Equity Awards, Stock Options, Restricted Stock Units, Beneficial Ownership, David S. Tierney