Form 4: Intra-Cellular Therapies EVP, Chief Medical Officer, Suresh Durgam, Reports Stock Transactions

Suresh Durgam, EVP and Chief Medical Officer of Intra-Cellular Therapies, reports the vesting of performance-based restricted stock units (PRSUs) and shares withheld for tax obligations.

Summary

• On January 31, 2025, Suresh Durgam, EVP and Chief Medical Officer of Intra-Cellular Therapies, had 11,017 performance-based restricted stock units (PRSUs) vest.
• These PRSUs represent a contingent right to receive one share of common stock upon vesting and settlement.
• Also on January 31, 2025, 4,730 shares were withheld by the issuer to satisfy tax withholding obligations related to the vesting of the PRSUs.
• On February 3, 2025, Durgam was granted 24,621 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.

Sentiment

Score: 5

Explanation: This is a neutral filing, simply reporting stock transactions. It doesn't inherently indicate positive or negative sentiment.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is a common occurrence in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.

Stakeholder Impact

• The vesting of stock options and restricted stock units can be seen as a positive sign for employees, as it represents a form of compensation and alignment with the company's success.
• Shareholders may view insider transactions as a signal of management's confidence (or lack thereof) in the company's future prospects, although routine transactions like these are generally not significant.

Key Dates