Form 4: Intapp Chief Marketing Officer Sells Shares to Cover Tax Obligations

Intapp's Chief Marketing Officer, Scott Fitzgerald, sold a total of 5,221 shares of common stock to cover tax liabilities arising from the vesting of performance and restricted share units.

Summary

• Scott Fitzgerald, the Chief Marketing Officer of Intapp, Inc., sold 439 shares of common stock at a weighted average price of $58.8488 per share.
• He also sold 4,782 shares of common stock at a weighted average price of $59.3404 per share.
• These sales were executed on November 21, 2024, and were made to cover tax liabilities incurred upon the vesting of performance share units and restricted share units.
• The sales were conducted under a pre-arranged 10b5-1 trading plan established by the company on June 10, 2024.
• Following these transactions, Mr. Fitzgerald directly owns 51,334 shares and 46,552 shares respectively.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction for an executive, which is neither positive nor negative for the company's overall performance. The use of a 10b5-1 plan indicates good corporate governance.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax liabilities when stock options or restricted stock units vest.

Comparison to Industry Standards

• Sales of shares by executives to cover tax obligations are a common practice across the technology industry.
• Many companies use 10b5-1 plans to allow executives to sell shares in a pre-planned manner, avoiding accusations of insider trading.
• The price ranges of the sales are within normal market fluctuations for a company like Intapp.

Stakeholder Impact

• The stock sales may have a minor impact on the stock price, but it is unlikely to be significant given the relatively small volume of shares sold and the pre-planned nature of the transactions.
• The sales do not indicate any change in the executive's confidence in the company.

Key Dates

Keywords

Intapp, stock sale, insider trading, Form 4, Scott Fitzgerald, 10b5-1 plan, share units, tax liability