Form 4: Intra-Cellular Therapies Executive Exercises Stock Options, Disposes of Shares for Tax Obligations
SEC Form 4 Filing
EVP and Chief Medical Officer of Intra-Cellular Therapies, Suresh K. Durgam, reports exercising stock options and disposing of shares to cover tax obligations on March 1, 2025.
Summary
- On March 1, 2025, Suresh K. Durgam, EVP and Chief Medical Officer of Intra-Cellular Therapies, Inc., executed transactions involving the company's stock.
- Durgam exercised restricted stock units, converting them into 8,742 shares of common stock.
- 3,709 shares were disposed of at a price of $128.2 to cover tax withholding obligations related to the vesting of restricted stock units.
- Following these transactions, Durgam directly owns 31,123 shares of Intra-Cellular Therapies, Inc.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reflects routine transactions related to executive compensation and tax obligations.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track management's sentiment and actions regarding their company's stock.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Reporting person was granted 26,227 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| 03/01/2025 | Date of transaction: exercise of restricted stock units and disposal of shares for tax obligations. |
| 03/04/2025 | Date of signature on the Form 4 filing. |
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