[Form 4] CATALYST PHARMACEUTICALS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Catalyst Pharmaceuticals (CPRX)November 20, 2025, the officer received options to purchase 98,652 shares of common stock at an exercise price of $22.77 per share, expiring on November 20, 2032. These options vest in three equal annual installments on November 20 of 2026, 2027, and 2028.

The officer was also granted 29,776 restricted stock units (RSUs), which convert into common shares upon vesting, with the same three-year vesting schedule. On November 21, 2025, 5,161 shares underlying RSUs were delivered, while 2,030 shares were withheld to cover taxes. After these transactions, the officer directly held 234,170 shares of common stock and 969,876 derivative securities, mainly options and RSUs.

11/24/2025 - 08:08 PM

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Elsbernd Brian

(Last) (First) (Middle)

355 ALHAMBRA CIRCLE

SUITE 801

(Street)

CORAL GABLES FL 33134

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Compliance/Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.001 per share	11/21/2025		M		5,161	A	(1)	236,200	D
Common Stock, par value $0.001 per share	11/21/2025		F		2,030	D	(2)	234,170	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Options to purchase common stock	$22.77	11/20/2025		A		98,652		(3)	11/20/2032	Common Stock	98,652	$0	945,161	D
Restricted Stock Units	(4)	11/20/2025		A		29,776		(3)	(4)	Common Stock	29,776	$0	975,037	D
Restricted Stock Units	(4)	11/21/2025		M			5,161	(5)	(6)	Common Stock	5,161	$0	969,876	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Registrant's common stock upon vesting.

2. Shares withheld by the Registrant to satisfy applicable withholding taxes upon vesting of restricted common stock.

3. Derivative securities vest in equal tranches, 1/3rd on November 20, 2026, 1/3rd on November 20, 2027 and 1/3rd on November 20, 2028.

4. Shares of common stock will be delivered to the Reporting Person upon vesting.

5. Derivative securities vest in equal tranches, 1/3rd on November 21, 2025, 1/3rd on November 21, 2026, and 1/3rd on November 21, 2027.

6. Shares of common stock are required to be delivered to the Reporting Person within sixty days of vesting. The first tranche of shares was delivered on November 21, 2025.

	/s/ Brian Elsbernd	11/24/2025
	** 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 4 (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 insider transaction was reported for Catalyst Pharmaceuticals (CPRX)?

The Chief Compliance/Legal Officer of Catalyst Pharmaceuticals (CPRX) reported equity awards and related share deliveries on November 20–21, 2025, including stock options, restricted stock units, and shares withheld for taxes.

How many stock options were granted to the Catalyst Pharmaceuticals officer?

The officer received options to purchase 98,652 shares of Catalyst Pharmaceuticals common stock at an exercise price of $22.77 per share, with an expiration date of November 20, 2032.

What restricted stock unit (RSU) grants did the Catalyst Pharmaceuticals insider receive?

The officer was granted 29,776 restricted stock units (RSUs), each representing a right to receive one share of common stock upon vesting, with equal vesting tranches on November 20, 2026, November 20, 2027, and November 20, 2028.

How many Catalyst Pharmaceuticals shares vested and were delivered in November 2025?

On November 21, 2025, 5,161 shares of common stock were delivered to the officer upon RSU vesting, and 2,030 shares were withheld by the company to satisfy withholding tax obligations.

What are the vesting schedules for the Catalyst Pharmaceuticals equity awards?

The options for 98,652 shares vest in three equal tranches on November 20, 2026, November 20, 2027, and November 20, 2028. The 29,776 RSUs follow the same three-year equal-tranche vesting schedule.

How many Catalyst Pharmaceuticals shares and derivatives does the officer own after these transactions?

Following the reported transactions, the officer beneficially owned 234,170 shares of Catalyst Pharmaceuticals common stock directly and 969,876 derivative securities, including options and RSUs.

What is the officer’s role at Catalyst Pharmaceuticals mentioned in the Form 4?

The reporting person is an officer of Catalyst Pharmaceuticals, serving as Chief Compliance/Legal Officer.