Catalyst Pharmaceuticals CMO equity converted in merger
CATALYST PHARMACEUTICALS, INC. reports that Chief Medical Officer William T. Andrews disposed of 2,309 common shares at $31.50 per share in a transaction with the issuer, in connection with the acquisition by Angelini Pharma S.p.A.
Rhea-AI Filing Summary
CATALYST PHARMACEUTICALS, INC. reports that Chief Medical Officer William T. Andrews disposed of 2,309 common shares at $31.50 per share in a transaction with the issuer, in connection with the acquisition by Angelini Pharma S.p.A. (the Merger).
On the same date, all of his reported RSUs (29,776 and 12,209 units) and stock options (98,652 at a $22.77 exercise price and 124,447 at $24.90) vested, were cancelled, and converted into cash rights based on the $31.50 merger price, leaving no reported remaining holdings in these awards.
Positive
- None.
Negative
- None.
Insider Trade Summary
Disposition: 267,393 shares
Disposition
5 txns
Insider
Andrews William T.
Role
Chief Medical Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Options to purchase common stock F3, F5 | 124,447 | $0.00 | $0.00 |
| Disposition | Options to purchase common stock F3, F5 | 98,652 | $0.00 | $0.00 |
| Disposition | Restricted Stock Units F2, F4, F5 | 12,209 | $0.00 | $0.00 |
| Disposition | Restricted Stock Units F2, F4, F5 | 29,776 | $0.00 | $0.00 |
| Disposition | Common Stock, par value $0.001 per share F1 | 2,309 | $31.50 | $73K |
Holdings After Transaction:
Options to purchase common stock — 0 contracts (Direct);
Restricted Stock Units — 0 contracts (Direct);
Common Stock, par value $0.001 per share — 0 shares (Direct)
Footnotes (5)
- F1. The reported securities were disposed of in connection with the consummation of the acquisition of the Issuer by Angelini Pharma S.p.A. (the "Merger")
- F2. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.
- F3. In connection with the consummation of the Merger, each reported stock option ("Option") was cancelled and converted into the right to receive a cash payment (without interest, and less applicable tax withholdings and other authorized deductions) equal to the product of (x) the excess of $31.50 per share over the per-share price of such Option, multiplied by (y) the total number of shares subject to such Option.
- F4. In connection with the consummation of the Merger, each reported restricted stock unit ("RSU") was cancelled and converted into the right to receive a cash payment (without interest, and less applicable tax withholdings and other authorized deductions) equal to the product of (x) the excess of $31.50 per share, multiplied by (y) the number of shares subject to such RSU.
- F5. Each Option or RSU, as applicable, vested in full in connection with the consummation of the Merger.
Key Figures
Common shares disposed: 2,309 shares
Merger consideration price: $31.50 per share
RSUs cancelled (grant 1): 29,776 units
+3 more
6 metrics
Common shares disposed
2,309 shares
Common Stock disposed of to issuer at $31.50 per share in connection with the Merger
Merger consideration price
$31.50 per share
Per-share price used to determine cash paid for common stock, RSUs and options
RSUs cancelled (grant 1)
29,776 units
Restricted Stock Units cancelled and converted into cash rights at $31.50 per share
RSUs cancelled (grant 2)
12,209 units
Additional Restricted Stock Units cancelled and converted into cash rights at $31.50 per share
Options cancelled at $22.77 strike
98,652 options
Stock options cancelled for cash equal to $31.50 minus $22.77 times shares
Options cancelled at $24.90 strike
124,447 options
Stock options cancelled for cash equal to $31.50 minus $24.90 times shares
Key Terms
Restricted Stock Units, stock option, cash payment
3 terms
Restricted Stock Units financial
"In connection with the consummation of the Merger, each reported restricted stock unit ("RSU") was cancelled"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
stock option financial
"each reported stock option ("Option") was cancelled and converted into the right to receive a cash payment"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
cash payment financial
"converted into the right to receive a cash payment (without interest, and less applicable tax withholdings)"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider activity did CPRX disclose for William T. Andrews?
CATALYST PHARMACEUTICALS, INC. disclosed that CMO William T. Andrews disposed of 2,309 common shares at $31.50 per share and had all reported RSUs and stock options cancelled and converted into cash rights in connection with the Angelini Pharma S.p.A. merger.
How were William T. Andrews’ CPRX restricted stock units treated in the merger?
All reported CPRX restricted stock units held by William T. Andrews, totaling 29,776 and 12,209 units, vested in full at the merger closing and were cancelled, converting into a right to receive a cash payment based on the $31.50 per-share merger price, subject to tax withholdings.
What happened to William T. Andrews’ CPRX stock options in the Angelini Pharma deal?
His reported CPRX stock options covering 98,652 shares at a $22.77 exercise price and 124,447 shares at $24.90 vested in full and were cancelled, converting into rights to receive cash payments equal to the spread over the $31.50 merger price, less withholdings.
Does William T. Andrews retain any of the reported CPRX equity awards after the merger?
For the awards reported, the post-transaction holdings are shown as 0, indicating no remaining RSUs, stock options, or the 2,309 common shares. All were disposed of or cancelled in connection with the Angelini Pharma S.p.A. acquisition of Catalyst Pharmaceuticals.
Was the CPRX insider transaction by William T. Andrews under a Rule 10b5-1 plan?
The disclosure indicates the Rule 10b5-1 checkbox is not marked for William T. Andrews. The transactions are instead described as occurring "in connection with the consummation of the Merger" with Angelini Pharma S.p.A., rather than under a pre-arranged trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
