Form 4: Citius Pharmaceuticals Director Exercises Options and Disposes of Shares
SEC Form 4 Filing
A Citius Pharmaceuticals director, Carol Webb, exercised stock options and disposed of shares to cover tax obligations.
Summary
- On March 4, 2024, Carol Webb, a director of Citius Pharmaceuticals, exercised stock options to acquire 12,071 shares of common stock at a price of $0.015 per share.
- Following the exercise, Webb disposed of 236 shares to satisfy tax obligations at a price of $0.766 per share.
- After these transactions, Webb directly owns 11,835 shares of Citius Pharmaceuticals common stock.
- Webb also holds options to purchase a total of 318,334 additional shares at various exercise prices and expiration dates.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing reflects routine transactions related to stock options and tax obligations.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge insider sentiment and potential future stock performance.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the small number of shares involved.
- The exercise of options and subsequent sale of shares for tax purposes is a normal part of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/17/2017 | Date of stock options |
| 09/13/2018 | Options vested in full |
| 09/04/2019 | Options vested in full |
| 10/08/2020 | Options vested in full |
| 07/07/2021 | Options vested in full |
| 10/06/2021 | Options vested in full |
| 02/16/2022 | Options vested in full |
| 07/22/2022 | Options vested in full |
| 10/11/2022 | Options vested in full |
| 10/04/2023 | Options vested in full |
| 10/10/2023 | Options were granted |
| 03/04/2024 | Earliest transaction date; stock options exercised and shares disposed of |
| 03/17/2024 | Expiration date of stock options |
| 06/23/2026 | Expiration date of stock options |
| 09/13/2027 | Expiration date of stock options |
| 09/04/2028 | Expiration date of stock options |
| 10/08/2029 | Expiration date of stock options |
| 07/07/2030 | Expiration date of stock options |
| 10/06/2030 | Expiration date of stock options |
| 02/16/2031 | Expiration date of stock options |
| 07/22/2031 | Expiration date of stock options |
| 10/11/2031 | Expiration date of stock options |
| 10/04/2032 | Expiration date of stock options |
| 10/10/2033 | Expiration date of stock options |
| 08/30/2024 | Signature date |
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