Form 4: Palatin CEO Carl Spana Reports Routine Stock Withholding
Statement of Changes in Beneficial Ownership
Palatin Technologies CEO Carl Spana reported the withholding of 345 common shares for tax obligations related to vested equity grants.
Summary
- Carl Spana, President and CEO, and a Director of Palatin Technologies, Inc. (PTN), reported changes in beneficial ownership.
- A total of 345 shares of common stock were disposed of (withheld by the issuer) to cover employee withholding taxes.
- These transactions occurred on November 14, 2025, and were related to equity grants that vested on various dates in June 2025.
- The per share values for tax withholding were determined as $8.00 for three transactions and $5.50 for one transaction.
- Following these transactions, Carl Spana directly beneficially owns 33,113 shares of common stock.
- The transactions were made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged disposition.
Sentiment
Score: 5
Explanation: The filing reports routine tax-related share withholdings, which are neutral events and do not indicate positive or negative sentiment regarding the company's performance or outlook.
Future Outlook
NA
Industry Context
This is a routine insider transaction filing (Form 4) and does not provide information relevant to broader industry trends or competitive analysis. It reflects standard equity compensation practices.
Related Party Transactions
- The transactions involve the withholding of shares by the issuer (Palatin Technologies, Inc.) to cover the reporting person's (Carl Spana) tax obligations related to vested equity awards, which is a standard related-party transaction in the context of executive compensation.
Stakeholder Impact
- The impact on shareholders is minimal, as these are routine tax-related transactions and do not represent a discretionary sale of shares by the CEO. The number of shares is small relative to the company's total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 06/04/2025 | Vesting date for a grant of 395 shares, from which 142 shares were withheld for taxes. |
| 06/20/2025 | Vesting date for a grant of 141 shares, from which 51 shares were withheld for taxes. |
| 06/22/2025 | Vesting date for a grant of 91 shares, from which 33 shares were withheld for taxes. |
| 06/22/2025 | Vesting date for a grant of 330 shares, from which 119 shares were withheld for taxes. |
| 11/14/2025 | Transaction date for the withholding of shares to pay employee withholding taxes. |
| 11/18/2025 | Signature date of the Form 4 filing. |
Keywords
Palatin Technologies, PTN, Carl Spana, Form 4, Insider Transaction, Stock Withholding, Equity Compensation, Beneficial Ownership
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