Form 4: Intapp Executive Michele Murgel Sells Shares to Cover Tax Obligations

Michele Murgel, Chief People & Places Officer at Intapp, Inc., sold shares of common stock on May 21, 2024, to cover tax liabilities incurred from vesting performance share units.

Summary

• On May 21, 2024, Michele Murgel, the Chief People & Places Officer of Intapp, Inc., sold shares of the company's common stock.
• The sales were executed to cover tax liabilities arising from the vesting of performance share units granted under the Intapp, Inc. 2021 Omnibus Incentive Plan.
• The transactions were conducted under a pre-arranged 10b5-1 trading plan established by the company on December 12, 2023.
• A total of 7,033 shares were sold at weighted average prices of $36.744, $37.4514, and $38.187.
• Following the reported transactions, Murgel still beneficially owns 164,914 shares of Intapp common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction for tax purposes and doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Executive stock sales for tax purposes are a common occurrence, especially after vesting of equity compensation. The use of a 10b5-1 plan indicates a pre-planned and compliant approach to these transactions.

Stakeholder Impact

• The stock sale has a minimal impact on shareholders as it is a small percentage of the total outstanding shares and was conducted under a pre-arranged plan.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates