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

Intapp's Chief Product Officer, Thad Jampol, sold a portion of his shares to cover tax liabilities arising from the vesting of performance and restricted share units.

Summary

• Thad Jampol, Chief Product Officer at Intapp, Inc., sold shares of common stock on November 21, 2024.
• The sales were executed in multiple transactions at weighted average prices of $58.8488 and $59.3404 per share.
• A total of 1,695 shares were sold at the lower weighted average price and 18,479 shares were sold at the higher weighted average price.
• These sales 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 on June 10, 2024.
• Following the transactions, Mr. Jampol directly owns 821,879 shares and indirectly owns 34,972 shares through his spouse, 15,028 shares through the Melita Jampol 2021 Grantor Retained Annuity Trust, and 15,028 shares through the Thaddeus Jampol 2021 Grantor Retained Annuity Trust.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction for tax purposes, which is neither particularly positive nor negative. The use of a 10b5-1 plan suggests the sales were planned and not based on any new information.

Risks

• Sales by company executives can sometimes be perceived negatively by the market, although these sales were for tax purposes and under a pre-arranged plan.

Industry Context

This is a routine filing related to executive stock transactions and is common in publicly traded companies. It reflects the standard practice of executives selling shares to cover tax obligations arising from equity compensation.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among executives at publicly traded companies to avoid accusations of insider trading.
• The sale of shares to cover tax liabilities is a standard practice for executives who receive equity compensation.
• Similar filings are regularly made by executives at comparable companies such as Black Knight, Inc. and nCino, Inc. when they sell shares.

Stakeholder Impact

• The share sales may have a minor impact on the stock price, but the pre-arranged nature of the sales should mitigate any significant negative reaction from shareholders.

Key Dates

Keywords

Intapp, insider trading, Form 4, share sale, Thad Jampol, 10b5-1 plan, executive compensation, stock options, tax liability