Form 4: Intapp CFO David Morton Jr. Sells Shares to Cover Tax Obligations

Chief Financial Officer of Intapp, Inc., David Morton Jr., executed sales of common stock to cover tax liabilities arising from the vesting of performance share units.

Summary

• David Morton Jr., the CFO of Intapp, Inc., sold shares of the company's common stock on August 20 and 21, 2024.
• The sales were executed to cover tax liabilities incurred upon the vesting of performance share units.
• The sales were conducted under a pre-arranged 10b5-1 trading plan established on June 10, 2024.
• On August 20, 2024, 1,789 shares were sold at a weighted average price of $42.2288, with prices ranging from $41.93 to $42.71.
• On August 21, 2024, two transactions occurred: 2 shares were sold at $41.99 and 473 shares were sold at a weighted average price of $42.6326, with prices ranging from $42.00 to $42.995.
• Following these transactions, Morton directly owns 4,398 shares of Intapp common stock.

Sentiment

Score: 6

Explanation: The document is a routine SEC filing detailing stock sales by an executive. It doesn't contain any information that would significantly impact investor sentiment positively or negatively. The sales are for tax purposes and conducted under a pre-arranged plan, which is standard practice.

Industry Context

Sales of shares by company executives are a routine part of corporate governance. Often these sales are pre-planned to avoid any accusations of insider trading. It is common for executives to sell shares to cover tax obligations.

Comparison to Industry Standards

• Executive stock sales are a common practice across publicly traded companies, particularly to cover tax obligations related to equity compensation.
• The use of 10b5-1 trading plans is a standard method to ensure compliance with insider trading regulations, as it allows executives to sell shares at predetermined times and prices.
• Comparable companies in the software and technology sector, such as Salesforce, Adobe, and Oracle, also see regular Form 4 filings from their executives detailing similar transactions.

Stakeholder Impact

• The stock sales may have a minor, temporary impact on the stock price, but are unlikely to have a significant long-term effect on shareholders.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates