Form 4: Intapp Executive Sells Shares to Cover Tax Obligations

Michele Murgel, Chief People & Places Officer at Intapp, Inc., sold shares of common stock to cover tax liabilities arising from vesting of performance share units and restricted share units.

Summary

• Michele Murgel, Chief People & Places Officer at Intapp, Inc., sold a total of 2,666 shares of common stock.
• The sales were executed on November 22, 2024, in two separate transactions.
• The first transaction involved the sale of 1,219 shares at a weighted average price of $59.6617 per share.
• The second transaction involved the sale of 1,447 shares at a weighted average price of $60.2352 per share.
• These sales were conducted to cover tax liabilities incurred upon the vesting of performance share units and restricted share units.
• The sales were made under a pre-arranged 10b5-1 trading plan established by the company on June 10, 2024.
• Following these transactions, Ms. Murgel beneficially owns 165,989 shares of Intapp common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction for an executive, which is neither positive nor negative for the company's overall performance. The use of a 10b5-1 plan indicates a planned and transparent approach.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax liabilities when stock options or restricted stock units vest.

Comparison to Industry Standards

• Sales of shares by executives to cover tax obligations are a common practice across the technology industry.
• Many companies use 10b5-1 trading plans to allow executives to sell shares in a pre-planned manner, avoiding accusations of insider trading.
• The price ranges of the sales are within the typical trading range for the stock, indicating no unusual market activity.

Stakeholder Impact

• The stock sales by the executive may have a minor impact on the stock price, but the volume is relatively small compared to the overall trading volume.
• The sales are not expected to have a significant impact on the company's operations or financial health.

Key Dates

Keywords

Intapp, insider trading, stock sale, Form 4, executive, share units, 10b5-1 plan, tax liability