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

Rhea-AI Filing Summary

Catalyst Pharmaceuticals Executive Vice President and CFO Michael W. Kalb reported equity award activity in company stock. On 11/21/2025, he acquired 6,894 shares of common stock through an option exercise (code M) and had 2,485 shares withheld to cover taxes on vesting (code F), leaving him with 8,606 shares of common stock held directly.

He was granted options to purchase 131,536 shares at an exercise price of $22.77 per share, expiring on 11/20/2032. These options vest in three equal annual tranches on November 20, 2026, November 20, 2027, and November 20, 2028. He also received 39,701 restricted stock units, which convert into common shares upon vesting, and additional RSU-related vesting of 6,894 shares scheduled in equal tranches on November 21, 2025, November 21, 2026, and November 21, 2027.

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^*

Kalb Michael Wayne

(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)
	Executive Vice President & CFO

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		6,894	A	(1)	11,091	D
Common Stock, par value $0.001 per share	11/21/2025		F		2,485	D	(2)	8,606	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		131,536		(3)	11/20/2032	Common Stock	131,536	$0	607,235	D
Restricted Stock Units	(4)	11/20/2025		A		39,701		(3)	(4)	Common Stock	39,701	$0	646,936	D
Restricted Stock Units	(4)	11/21/2025		M			6,894	(5)	(6)	Common Stock	6,894	$0	640,042	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/ Michael W. Kalb	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).
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FAQ

What insider transaction did Catalyst Pharmaceuticals (CPRX) report for its CFO?

Executive Vice President and CFO Michael W. Kalb exercised options to acquire 6,894 shares of Catalyst Pharmaceuticals common stock and had 2,485 shares withheld to cover taxes on vested stock.

How many stock options did the Catalyst Pharmaceuticals (CPRX) CFO receive?

He received options to purchase 131,536 shares of common stock at an exercise price of $22.77 per share, expiring on November 20, 2032.

What new RSU awards did the Catalyst Pharmaceuticals (CPRX) CFO receive?

He was granted 39,701 restricted stock units, each representing the right to receive one share of common stock upon vesting.

How do the new Catalyst Pharmaceuticals (CPRX) options for the CFO vest?

The options for 131,536 shares vest in three equal tranches: 1/3 on November 20, 2026, 1/3 on November 20, 2027, and 1/3 on November 20, 2028.

How do the RSUs tied to the 6,894 shares for Catalyst Pharmaceuticals (CPRX) vest?

The RSUs related to 6,894 shares vest in three equal tranches on November 21, 2025, November 21, 2026, and November 21, 2027, with shares delivered within sixty days of each vesting date.

How many Catalyst Pharmaceuticals (CPRX) common shares does the CFO own after these transactions?

After the reported transactions, Michael W. Kalb directly holds 8,606 shares of Catalyst Pharmaceuticals common stock.