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

Rhea-AI Filing Summary

Catalyst Pharmaceuticals (CPRX) President and CEO Richard J. Daly, who also serves as a director, reported new equity awards and related share activity. On November 21, 2025, he acquired 20,006 shares of common stock through the vesting of restricted stock units and had 7,872 shares withheld to cover taxes, leaving him with 238,928 shares of common stock held directly.

On November 20, 2025, he received options to purchase 381,948 shares of common stock at an exercise price of $22.77 per share, vesting in three equal annual tranches on November 20, 2026, November 20, 2027, and November 20, 2028. He was also granted 115,283 restricted stock units that vest on the same schedule. Following these transactions, Daly beneficially owns 2,661,978 derivative securities tied to Catalyst common stock.

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^*

Daly Richard J

(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
X	Officer (give title below)		Other (specify below)
	President and CEO

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		20,006	A	(1)	246,800	D
Common Stock, par value $0.001 per share	11/21/2025		F		7,872	D	(2)	238,928	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		381,948		(3)	11/20/2032	Common Stock	381,948	$0	2,546,695	D
Restricted Stock Units	(4)	11/20/2025		A		115,283		(3)	(4)	Common Stock	115,283	$0	2,681,984	D
Restricted Stock Units	(4)	11/21/2025		M			20,006	(5)	(6)	Common Stock	20,006	$0	2,661,978	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/ Richard J. Daly	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.
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FAQ

What insider transaction did CPRX CEO Richard J. Daly report?

Richard J. Daly, President, CEO and director of Catalyst Pharmaceuticals (CPRX), reported new option and restricted stock unit grants, as well as stock delivered upon RSU vesting and shares withheld for taxes.

How many Catalyst Pharmaceuticals shares does the CPRX CEO own after these transactions?

After the reported transactions, Richard J. Daly directly owns 238,928 shares of Catalyst Pharmaceuticals common stock and holds 2,661,978 derivative securities linked to the company’s common stock.

What stock options were granted to the CPRX CEO in this Form 4?

On November 20, 2025, Richard J. Daly was granted options to purchase 381,948 shares of Catalyst Pharmaceuticals common stock at an exercise price of $22.77 per share, vesting in three equal annual tranches starting in 2026 and ending in 2028.

What restricted stock units did Catalyst Pharmaceuticals grant to its CEO?

Catalyst Pharmaceuticals granted Richard J. Daly 115,283 restricted stock units on November 20, 2025. Each unit represents one share of common stock delivered upon vesting, with vesting in three equal tranches on November 20, 2026, November 20, 2027, and November 20, 2028.

Why were 7,872 CPRX shares deducted in the CEO’s Form 4?

The 7,872 shares of Catalyst Pharmaceuticals common stock were withheld by the company to satisfy applicable withholding taxes upon the vesting of restricted stock, as noted in the explanation of responses.

What RSU vesting and delivery occurred for the CPRX CEO on November 21, 2025?

On November 21, 2025, 20,006 shares of Catalyst Pharmaceuticals common stock were delivered to Richard J. Daly upon RSU vesting. The RSUs vest in three equal tranches on November 21, 2025, November 21, 2026, and November 21, 2027, with shares required to be delivered within sixty days of each vesting date.