Form 4: Intra-Cellular Therapies Director Riggs Reports Vesting of Restricted Stock Units

Director Rory B. Riggs reports the vesting of 14,189 restricted stock units into common stock of Intra-Cellular Therapies, Inc. on June 18, 2019.

Summary

• On June 18, 2019, Rory B. Riggs, a director of Intra-Cellular Therapies, Inc., had 14,189 restricted stock units vest.
• Each restricted stock unit converted into one share of common stock.
• The restricted stock units were granted on June 18, 2018, and vested on the first anniversary of the grant date.
• The reporting of this transaction was delayed due to an administrative error.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of stock vesting, but the late filing due to an administrative error slightly lowers the score.

Negatives

• The Form 4 filing was submitted late due to an administrative error.

Risks

• Administrative errors in reporting transactions could lead to compliance issues.

Industry Context

This is a standard Form 4 filing, which is common for corporate insiders reporting transactions in their company's stock. It reflects part of the executive compensation package.

Stakeholder Impact

• The vesting of restricted stock units increases the number of outstanding shares, which could have a minor dilutive effect on existing shareholders.

Key Dates