Form 4: Intapp's Chief Product Officer Executes Stock Options and Sells Shares Under 10b5-1 Plan
SEC Form 4
Thad Jampol, Chief Product Officer of Intapp, Inc., exercised stock options and sold shares of common stock under a pre-arranged 10b5-1 trading plan.
Summary
- Thad Jampol, the Chief Product Officer of Intapp, Inc., executed transactions involving the company's common stock.
- On August 23, 2024, Jampol exercised options to acquire 65,403 shares at $3.99 per share and sold the same amount at a weighted average price of $44.1143.
- On August 26, 2024, Jampol exercised options to acquire 34,597 shares at $3.99 per share and sold the same amount at a weighted average price of $44.108.
- These transactions were executed under a 10b5-1 plan established on December 13, 2023.
- 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: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment about the company's prospects.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions. It is common for executives to utilize 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information. The filing itself doesn't provide specific insights into Intapp's overall performance or strategy but indicates that an executive is converting vested options into cash.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their insiders.
- The use of a 10b5-1 trading plan is a common strategy employed by executives at companies like Salesforce, Microsoft, and Oracle to manage their stock holdings while complying with insider trading regulations.
- The reported weighted average sale prices are within a normal range for stock transactions of this type.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the impact is likely minimal given the relatively small number of shares involved compared to the total outstanding shares.
- The transactions do not appear to have a direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 2023-12-13 | Date the 10b5-1 plan was put in place by the Reporting Person |
| 2024-08-23 | Date of first transaction: exercise of options and sale of shares |
| 2024-08-26 | Date of second transaction: exercise of options and sale of shares |
| 2024-08-27 | Date of report filing |
| 2025-08-27 | Expiration date of employee stock options |
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