Form 4: Catalyst Pharmaceuticals Executive Exercises Stock Options, Disposes of Shares for Tax Obligations
SEC Form 4 Filing
Brian Elsbernd, Chief Compliance/Legal Officer of Catalyst Pharmaceuticals, exercised restricted stock units and disposed of shares to cover withholding taxes on December 27, 2024.
Summary
- On December 27, 2024, Brian Elsbernd, the Chief Compliance/Legal Officer of Catalyst Pharmaceuticals, exercised 6,667 restricted stock units, each representing a contingent right to receive one share of Catalyst Pharmaceuticals' common stock.
- Following the exercise, Elsbernd disposed of 1,941 shares to satisfy withholding tax obligations.
- After these transactions, Elsbernd directly owns 181,250 shares of common stock and 1,081,276 derivative securities.
- The restricted stock units vest in three equal tranches annually on December 27, 2023, December 27, 2024, and December 27, 2025.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a standard insider transaction related to executive compensation and tax obligations.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives and their potential alignment with shareholder interests.
Key Dates
| Date | Description |
|---|---|
| 12/27/2023 | First tranche of restricted stock units vested. |
| 12/27/2024 | Second tranche of restricted stock units vested; shares delivered; tax obligations met. |
| 12/27/2025 | Final tranche of restricted stock units vests. |
| 12/31/2024 | Date of signature on the Form 4 filing. |
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