Form 4: Intapp COO Sells Shares to Cover Tax Obligations Following Vesting

Intapp's Chief Operating Officer, Donald F. Coleman, sold shares of company stock to cover tax liabilities arising from the vesting of performance and restricted share units.

Summary

• Donald F. Coleman, the Chief Operating Officer of Intapp, Inc., sold a total of 17,748 shares of common stock on November 21, 2024.
• The sales were executed in two tranches, with 1,492 shares sold at a weighted average price of $58.8488 and 16,256 shares sold at a weighted average price of $59.3404.
• These transactions 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. Coleman directly owns 695,498 shares and indirectly owns 150,000 shares through Gambatte LLC.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction (stock sales for tax purposes) by an executive, which is neither particularly positive nor negative. The use of a 10b5-1 plan suggests no unusual activity.

Risks

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

Industry Context

Executive stock sales are a common occurrence, especially following the vesting of equity awards. The use of a 10b5-1 plan indicates that the sales were pre-planned and not based on any non-public information.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a standard practice for executives to avoid accusations of insider trading.
• The sale of shares to cover tax obligations is a common practice among executives who receive equity compensation.
• The reported price ranges are within normal market fluctuations for a company like Intapp.

Stakeholder Impact

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

Key Dates

Keywords

Intapp, stock sale, insider trading, Form 4, Donald F. Coleman, Chief Operating Officer, 10b5-1 plan, share vesting, tax liability