CPRX Form 4: Director equity awards and 947 RSUs converted

Rhea-AI Filing Summary

Catalyst Pharmaceuticals (CPRX) director reports equity awards and vesting activity. A board member filed a Form 4 disclosing equity-based compensation and related share delivery in November 2025.

The reporting person was granted options to purchase 18,115 shares of common stock at an exercise price of $22.77 on November 20, 2025. These options vest in three equal annual installments on November 20 of 2026, 2027, and 2028. The filing also shows an award of 5,468 restricted stock units (RSUs) on November 20, 2025, each convertible into one share upon vesting.

On November 21, 2025, 947 RSUs were converted, and the corresponding 947 common shares were delivered to the director. Following these transactions, the director reports beneficial ownership of 496,026 shares of Catalyst Pharmaceuticals common stock directly, along with derivative holdings consisting of options and RSUs that will deliver additional shares as they vest over time.

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

OMB APPROVAL

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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^*

DENKHAUS DONALD A

(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)

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

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		947	A	(1)	496,026	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		18,115		(2)	11/20/2032	Common Stock	18,115	$0	176,389	D
Restricted Stock Units	(3)	11/20/2025		A		5,468		(2)	(3)	Common Stock	5,468	$0	181,857	D
Restricted Stock Units	(3)	11/21/2025		M			947	(4)	(5)	Common Stock	947	$0	180,910	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. 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.

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

4. 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.

5. 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/ Donald A. Denkhaus	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 did the Catalyst Pharmaceuticals (CPRX) director report on this Form 4?

The director reported receiving stock options and restricted stock units (RSUs)

How many stock options were granted to the CPRX director and at what price?

The director was granted options to purchase 18,115 shares of Catalyst Pharmaceuticals common stock at an exercise price of $22.77 per share on November 20, 2025.

When do the newly granted CPRX stock options vest?

The options vest in three equal tranches: one-third on November 20, 2026, one-third on November 20, 2027, and one-third on November 20, 2028, as disclosed in the explanation of responses.

How many restricted stock units (RSUs) did the CPRX director receive?

The director received 5,468 restricted stock units on November 20, 2025. Each RSU represents a contingent right to receive one share of common stock upon vesting, with shares delivered to the reporting person when the units vest.

What happened with the 947 CPRX restricted stock units on November 21, 2025?

On November 21, 2025, 947 RSUs were converted and 947 shares of common stock were delivered to the director. The explanation notes that shares related to this RSU award are required to be delivered within sixty days of vesting, and the first tranche was delivered on that date.

How many CPRX shares does the director beneficially own after these transactions?

After the reported transactions, the director beneficially owns 496,026 shares of Catalyst Pharmaceuticals common stock directly, in addition to derivative securities such as options and RSUs that may result in further share delivery as they vest or are exercised.