Form 4: Catalyst Pharma Director Converts RSUs to Stock

Catalyst Pharmaceuticals Director David S. Tierney converted 1,413 restricted stock units into common stock on December 8, 2025, as part of a scheduled vesting.

Summary

• Director David S. Tierney of Catalyst Pharmaceuticals, Inc. converted 1,413 Restricted Stock Units (RSUs) into common stock.
• The transaction occurred on December 8, 2025, and is identified by transaction code 'M' (exercise or conversion of derivative security).
• This conversion represents the second tranche of a pre-scheduled vesting event for the RSUs.
• Following this transaction, Mr. Tierney directly beneficially owns 381,980 shares of common stock.
• He also continues to hold 179,497 derivative securities, which are remaining Restricted Stock Units.

Sentiment

Score: 7

Explanation: The conversion of restricted stock units into common stock by a director is a routine, positive event as it increases the director's direct equity stake, aligning their interests with shareholders. It reflects a planned compensation event rather than a discretionary purchase or sale.

Positives

• A director is increasing their direct ownership of common stock, which generally aligns their interests more closely with those of shareholders.
• The transaction is a result of a pre-scheduled vesting event, indicating a planned and routine component of the director's compensation structure.

Future Outlook

NA

Industry Context

This is a standard insider transaction related to equity compensation, common across publicly traded companies, particularly in the pharmaceutical sector, to align management and director interests with shareholder value.

Related Party Transactions

• Director David S. Tierney converted restricted stock units granted by Catalyst Pharmaceuticals, Inc. into common stock as part of his equity compensation plan.

Stakeholder Impact

• Shareholders: Increased alignment of the director's interests with shareholders due to increased direct stock ownership.
• Employees: Reflects standard equity compensation practices for key personnel, which can be a positive signal for employee retention and motivation.

Next Steps

• The final tranche of restricted stock units held by David S. Tierney is scheduled to vest on December 8, 2026.

Key Dates

Recommendation

This Form 4 reports a routine, scheduled conversion of restricted stock units by a director, which is an expected part of executive compensation. It does not introduce new information that would fundamentally alter the investment thesis for Catalyst Pharmaceuticals, Inc., thus a 'hold' recommendation is appropriate.

Keywords

Catalyst Pharmaceuticals, CPRX, Form 4, Insider Transaction, Restricted Stock Units, RSU Conversion, Director Stock Ownership, Equity Compensation