Form 4: Intapp Executive Sells Over 9,000 Shares for Tax Obligations Under 10b5-1 Plan

David Benjamin Harrison, President of Industries at Intapp, Inc., sold 9,125 shares of common stock across multiple transactions in May 2025 to cover tax liabilities from vested equity awards.

Summary

• David Benjamin Harrison, President, Industries of Intapp, Inc. (INTA), reported the sale of 9,125 shares of common stock.
• The sales occurred on May 21, 2025, and May 22, 2025.
• On May 21, 2025, Mr. Harrison sold 2,580 shares at a weighted average price of $56.7075 and 3,508 shares at a weighted average price of $57.3339.
• On May 22, 2025, he sold 2,127 shares at a weighted average price of $56.5926 and 910 shares at a weighted average price of $57.1827.
• The transactions were executed pursuant to a Rule 10b5-1 plan established on February 20, 2025.
• The purpose of these sales was 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.
• Following these transactions, Mr. Harrison beneficially owns 14,275 shares of Intapp common stock directly.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The sales are for tax purposes related to vested equity, a common and expected event for executives, and were conducted under a pre-arranged 10b5-1 plan. This typically does not signal a change in management's confidence in the company.

Positives

• The sales were conducted under a pre-arranged 10b5-1 plan, indicating a planned and automated transaction rather than a discretionary sale based on new information.
• The sales were explicitly for tax liability, which is a common and routine reason for insider stock sales following equity award vesting.

Negatives

• The transactions represent a reduction in direct insider ownership, although for a routine tax-related purpose.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This filing is a routine disclosure of an insider stock transaction, common across all industries, particularly for executives receiving equity-based compensation. It does not provide specific insights into broader industry trends for the legal and professional services software sector where Intapp operates.

Stakeholder Impact

• Shareholders: A minor reduction in insider ownership, but for a routine tax-related purpose, which is generally not viewed negatively.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Keywords

Intapp, INTA, Form 4, Insider Trading, Stock Sale, Tax Liability, 10b5-1 Plan, Equity Awards, Restricted Stock Units, Performance Share Units, Corporate Governance