[Form 3] Catalyst Pharmaceutical Inc. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Daniel J. Curran, a director of Catalyst Pharmaceuticals (CPRX), reports no direct common stock ownership and holds options to acquire 40,000 shares at an exercise price of $21.12. The options vest in three annual tranches beginning August 1, 2026 and expire on August 1, 2032, creating multi-year equity alignment with the company.

Positive

• 40,000-option grant provides equity-based alignment between the director and shareholders
• Clear vesting schedule (three annual tranches beginning 08/01/2026) ties compensation to multi-year performance

Negative

• No direct common stock ownership reported (0 shares reported beneficially owned)

Insights

Corporate Governance Expert

TL;DR: Director received a time‑vested option grant that aligns long‑term interests but shows no current direct share ownership.

The Form 3 discloses a standard equity grant structure for a director: 40,000 options with a defined exercise price and a multi‑year vesting schedule. Such grants are commonly used to align executive and director incentives with shareholder value over time. The filing also shows zero direct common stock holdings, which is a factual detail investors may note when assessing the director's current stake.

Securities Analyst

TL;DR: 40,000 options at $21.12 vesting from 08/01/2026 to 08/01/2028, expiring 08/01/2032; routine insider disclosure with limited immediate market impact.

The disclosure identifies an option grant for 40,000 underlying shares, an exercise price of $21.12 and an expiration date of 08/01/2032, with vesting in three annual tranches beginning 08/01/2026. This is a routine Form 3 reporting of beneficial ownership tied to compensation and does not itself indicate a market transaction or sale proceeds.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Curran Daniel J.

(Last) (First) (Middle)

355 ALHAMBRA CIRCLE

SUITE 801

(Street)

CORAL GABLES FL 33134

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/01/2025

3. Issuer Name and Ticker or Trading Symbol
CATALYST PHARMACEUTICALS, INC. [ CPRX ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $0.001 per share	0	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Options to purchase common stock	(1)	08/01/2032	Common Stock	40,000	$21.12	D

Explanation of Responses:

1. Options vest in three annual tranches beginning on August 1, 2026.

	/s/ Daniel J. Curran	08/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Daniel J. Curran report on Form 3 for Catalyst Pharmaceuticals (CPRX)?

He reported 0 shares of common stock directly owned and options to purchase 40,000 shares at an exercise price of $21.12.

How many shares can Daniel J. Curran acquire under the reported derivative securities?

He can acquire 40,000 shares under the reported option grant.

What is the exercise price and expiration date of the options reported on the CPRX Form 3?

The exercise price is $21.12 and the options expire on 08/01/2032.

When do the options vest according to the filing?

The options vest in three annual tranches beginning 08/01/2026.

Does Daniel J. Curran currently own common stock in CPRX according to this filing?

No. The filing shows 0 shares of common stock beneficially owned directly.