Form 4: Intapp CFO Sells Over $750K in Company Stock for Tax Obligations Under Pre-Arranged Plan

Intapp, Inc.'s Chief Financial Officer, David H. Morton Jr., sold 13,331 shares of common stock totaling approximately $759,699 over two days in May 2025, primarily to cover tax liabilities from vested equity awards.

Summary

• David H. Morton Jr., Chief Financial Officer of Intapp, Inc. (INTA), reported the sale of common stock.
• On May 21, 2025, Mr. Morton sold 3,769 shares at a weighted average price of $56.7075 per share, and an additional 5,125 shares at a weighted average price of $57.3339 per share.
• On May 22, 2025, he sold 3,107 shares at a weighted average price of $56.5926 per share, and another 1,330 shares at a weighted average price of $57.1827 per share.
• The total number of shares sold across these transactions was 13,331.
• The aggregate value of the shares sold amounts to approximately $759,699.20.
• These sales were conducted to satisfy tax liabilities incurred upon the vesting of performance share units (PSUs) and restricted share units (RSUs) granted under the Intapp, Inc. 2021 Omnibus Incentive Plan.
• All transactions were executed pursuant to a Rule 10b5-1 plan, which was established by the Company on February 20, 2025.
• Following these transactions, Mr. Morton beneficially owns 42,739 shares of Intapp, Inc. common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The document reports a routine insider stock sale for tax purposes, pre-arranged under a 10b5-1 plan, which is a common and expected event for executives receiving equity compensation. It does not indicate any negative or positive operational or financial news for the company.

Positives

• The stock sales were conducted under a pre-arranged Rule 10b5-1 plan, which indicates that the transactions were scheduled in advance and not based on immediate, non-public information.
• The sales were explicitly stated to cover tax liabilities arising from the vesting of performance and restricted share units, which is a common and routine reason for insider stock sales and implies the successful vesting of equity awards.

Negatives

• Any insider selling, even for tax purposes, can sometimes be perceived negatively by the market, as it reduces the insider's direct equity stake in the company.

Risks

• No specific risks are mentioned in this Form 4 filing beyond the inherent risks associated with stock ownership and market fluctuations.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• The shares of Intapp, Inc.'s common stock were sold for tax liability incurred upon the vesting of performance share units and restricted share units granted pursuant to the Intapp, Inc. 2021 Omnibus Incentive Plan.
• Shares were sold pursuant to a 10b5-1 plan put in place by the Company on February 20, 2025.

Industry Context

Form 4 filings are standard regulatory disclosures for insider transactions across all publicly traded companies. The sale of shares to cover tax obligations upon the vesting of equity awards is a common practice among executives in various industries, particularly when such sales are pre-arranged under a 10b5-1 plan.

Stakeholder Impact

• Shareholders: The sale represents a minor reduction in the CFO's direct ownership, but given it's for tax purposes and under a 10b5-1 plan, it is generally not viewed as a significant negative signal.
• Employees: No direct impact on employees is indicated by this filing.

Next Steps

• No specific future actions, events, or milestones for the company are mentioned in this insider transaction report.

Key Dates

Keywords

Intapp, INTA, Form 4, insider trading, stock sale, CFO, beneficial ownership, 10b5-1 plan, equity awards, tax liability