Form 4: Intapp CFO David Morton Jr. Reports Share Transactions Following RSU Vesting
SEC Form 4
David Morton Jr., CFO of Intapp, Inc., reports the acquisition and disposal of common stock and restricted share units (RSUs) related to vesting and tax obligations.
Summary
- On May 19, 2025, David Morton Jr., CFO of Intapp, acquired 29,908 shares of common stock at $0 related to performance share units.
- On May 20, 2025, Morton acquired 8,698 and 4,549 shares of common stock at $0 due to RSU vesting.
- Also on May 20, 2025, Morton sold 8,741 shares of common stock at a weighted average price of $56.7496 to cover tax liabilities.
- These transactions were executed under a 10b5-1 plan established on February 20, 2025.
- Following these transactions, Morton directly owns 56,070 shares of Intapp common stock and holds 127,942 derivative securities (RSUs).
Sentiment
Score: 7
Explanation: The document reflects routine transactions related to executive compensation, suggesting a neutral to slightly positive sentiment as it indicates executives are vested in the company's success.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates activity related to equity compensation and tax obligations, which is typical for executives.
Comparison to Industry Standards
- Equity compensation is a standard practice in the tech industry, with companies like Intapp using RSUs and performance share units to incentivize and retain key employees.
- The use of 10b5-1 trading plans is also common among executives to avoid accusations of insider trading when selling company stock.
- Comparing Intapp's equity compensation practices to similar companies in the legal tech space would provide further context, but specific competitor data isn't available in this document.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the sale of shares, but the overall impact is likely minimal as it relates to tax obligations.
- Employees holding similar equity grants may be interested in these transactions as a reference point.
Key Dates
| Date | Description |
|---|---|
| February 20, 2025 | Date the 10b5-1 plan was put in place by the Company |
| May 19, 2025 | Date of acquisition of 29,908 shares of common stock related to performance share units. |
| May 20, 2025 | Date of RSU vesting and subsequent sale of shares for tax obligations. |
| May 21, 2025 | Date of signature of the Form 4 filing. |
Keywords
Intapp, David Morton Jr., CFO, Form 4, Share Transactions, RSU, Vesting, 10b5-1 Plan, Common Stock, Performance Share Units
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