Form 4: Intapp CFO Sells Shares to Cover Tax Obligations

Intapp's Chief Financial Officer, David H. Morton Jr., sold shares of company stock to cover tax liabilities arising from the vesting of performance and restricted share units.

Summary

• David H. Morton Jr., the Chief Financial Officer of Intapp, Inc., sold a total of 4,204 shares of common stock on November 22, 2024.
• The sales were executed in two separate transactions, with 1,922 shares sold at a weighted average price of $59.6617 and 2,282 shares sold at a weighted average price of $60.2352.
• These sales were made to cover tax liabilities incurred from the vesting of performance share units and restricted share units.
• The transactions were conducted under a pre-arranged 10b5-1 trading plan established by the company on June 10, 2024.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to stock sales by an executive for tax purposes. It does not indicate any positive or negative sentiment about the company's performance.

Industry Context

Form 4 filings are a standard part of regulatory compliance for publicly traded companies, providing transparency into the trading activities of company insiders. This filing is a routine disclosure of stock sales by a company executive to cover tax obligations.

Comparison to Industry Standards

• The sale of shares by a CFO to cover tax obligations is a common practice among publicly traded companies.
• Many executives use 10b5-1 trading plans to avoid accusations of insider trading, which is a standard practice.
• The price ranges of the sales are within normal market fluctuations for a company like Intapp.

Stakeholder Impact

• The stock sales by the CFO are unlikely to have a significant impact on stakeholders as they are routine and for tax purposes.

Key Dates

Keywords

Intapp, insider trading, Form 4, David H. Morton Jr., stock sale, tax liability, 10b5-1 plan, share units, CFO