Form 4: Intapp COO Sells Over 8,400 Shares for Tax Obligations Under Pre-Arranged 10b5-1 Plan

Intapp, Inc.'s Chief Operating Officer, Donald F. Coleman, sold 8,438 shares of common stock across multiple transactions in May 2025 to cover tax liabilities from vested equity awards, as disclosed in a recent SEC Form 4 filing.

Summary

• Donald F. Coleman, Chief Operating Officer of Intapp, Inc. (INTA), reported the sale of 8,438 shares of the company's common stock.
• The sales occurred on May 21, 2025, and May 22, 2025.
• The shares were sold to cover 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.
• These transactions were executed pursuant to a Rule 10b5-1 plan, which was put in place by the company on February 20, 2025.
• The weighted average sale prices ranged from $56.5926 to $57.3339 per share.
• Following these transactions, Mr. Coleman directly owns 435,076 shares of common stock.
• Additionally, Mr. Coleman indirectly beneficially owns 414,395 shares through the Coleman Family Trust and 150,000 shares through Gambatte LLC, totaling 564,395 indirect shares.
• His total beneficial ownership after the reported transactions stands at 999,471 shares.

Sentiment

Score: 7

Explanation: The transaction is a routine sale by an executive to cover tax obligations arising from the vesting of equity awards, executed under a pre-established 10b5-1 plan. This type of sale is generally not indicative of a change in management's outlook on the company's prospects and is a common part of executive compensation.

Positives

• The sale was conducted under a pre-established Rule 10b5-1 plan, indicating it was not a discretionary sale based on new information or a negative outlook.
• The purpose of the sale was explicitly stated as covering tax liabilities from vested equity awards, which is a common and routine practice for executives receiving stock-based compensation.

Negatives

• Any insider selling, even for tax purposes, can sometimes be perceived negatively by the market, although this specific type of transaction is generally considered routine.

Future Outlook

N/A

Management Comments

• Shares 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.
• The sales were executed pursuant to a 10b5-1 plan put in place by the Company on February 20, 2025.

Industry Context

N/A

Related Party Transactions

• The reporting person holds 414,395 shares indirectly through the Coleman Family Trust, of which he and his spouse are trustees and sole beneficiaries.
• An additional 150,000 shares are held indirectly by Gambatte LLC, an entity controlled by and for the sole benefit of the Coleman Family Trust.

Stakeholder Impact

• Shareholders: The sale represents a minor reduction in the executive's direct ownership, but as a routine tax-related transaction under a 10b5-1 plan, it is unlikely to signal a lack of confidence in the company's future.
• Employees: No direct impact on employees is mentioned or implied by this transaction.

Key Dates

Recommendation

Keywords

Intapp, INTA, SEC Form 4, Insider Trading, Stock Sale, Executive Compensation, 10b5-1 Plan, Common Stock, Donald F. Coleman, Chief Operating Officer, Tax Liability, Equity Awards