Form 4: Intapp Executive Thad Jampol Sells Shares to Cover Tax Obligations

Chief Product Officer of Intapp, Thad Jampol, sold shares of common stock to cover tax liabilities incurred from vesting performance share units.

Summary

• Thad Jampol, Chief Product Officer of Intapp, Inc., sold shares of Intapp's common stock on August 20 and 21, 2024.
• The sales were executed to cover tax liabilities arising from the vesting of performance share units granted under the company's 2021 Omnibus Incentive Plan.
• The sales were conducted under a pre-arranged 10b5-1 trading plan established on June 10, 2024.
• On August 20, 2024, 18,975 shares were sold at a weighted average price of $42.2288, with individual prices ranging from $41.93 to $42.71.
• On August 21, 2024, multiple transactions occurred: 19 shares were sold at $41.99, 5,016 shares were sold at a weighted average price of $42.6326 (ranging from $42.00 to $42.995), and 3 shares were sold at $43.
• Following these transactions, Jampol directly owns 772,412 shares of Intapp common stock.
• Jampol also has indirect ownership through his spouse (34,972 shares) and two trusts (15,028 shares each).

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing simply reports stock sales for tax purposes, which is a routine event. There's no indication of positive or negative implications for the company's performance.

Positives

• The sales were conducted under a pre-arranged 10b5-1 trading plan, indicating transparency and avoiding concerns about insider trading based on non-public information.

Industry Context

Sales by company executives are a normal part of corporate activity, especially when related to tax obligations from vesting equity. The use of a 10b5-1 plan is a common practice to avoid insider trading concerns.

Comparison to Industry Standards

• Executive stock sales are common across the tech industry, particularly after vesting events.
• Companies like Salesforce, Workday, and ServiceNow often see similar filings from their executives.
• The use of 10b5-1 plans is a standard practice to ensure compliance with insider trading regulations, similar to what is seen at companies like Microsoft and Apple.

Stakeholder Impact

• The stock sale may have a minor, temporary impact on the stock price due to the increased supply of shares, but it is unlikely to be significant given the relatively small volume compared to the total outstanding shares.

Key Dates