IGC Pharma CEO spouse awarded RSUs, stock

IGC Pharma's CEO and director Ram Mukunda reported indirect transactions involving his spouse's holdings.

Rhea-AI Filing Summary

IGC Pharma's CEO and director Ram Mukunda reported indirect transactions involving his spouse's holdings. On February 3, 2026, his spouse acquired 50,000 shares of common stock at $0.0 per share, bringing indirectly held common stock to 860,752 shares.

On the same date, the spouse was granted 16,667 restricted stock units that vest immediately and 66,666 restricted stock units that vest over time, both indirectly attributed "BY SPOUSE." Each restricted stock unit represents the right to receive one share of IGC common stock.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Mukunda Ram

Role CEO

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	16,667	$0.00	$0.00
Grant/Award	Restricted Stock Units	66,666	$0.00	$0.00
Exercise	Common Stock	50,000	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 83,333 contracts (Indirect, BY SPOUSE); Common Stock — 860,752 shares (Indirect, BY SPOUSE)

Footnotes (4)

1. F1. On February 3, 2026, the Reporting Person's spouse were granted RSUs subject to immediate vesting.
2. F2. On February 3, 2026, the Reporting Person's spouse were granted RSUs subject to vesting on March 31, 2026.
3. F3. On February 3, 2026, the Reporting Person's spouse were granted RSUs subject to vesting equally over two years starting on March 31, 2026.
4. F4. Each restricted stock unit represents a right to receive one share of IGC common stock.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did IGC (IGC) report on February 3, 2026?

IGC reported that the CEO’s spouse acquired 50,000 shares of common stock at $0.0 per share and received new restricted stock unit grants, all held indirectly and attributed as ownership "BY SPOUSE" in the filing.

How many IGC (IGC) common shares are indirectly held after the reported transaction?

Following the transaction, 860,752 shares of IGC common stock are reported as beneficially owned indirectly through the CEO’s spouse. This total reflects the position after the 50,000-share acquisition at a reported price of $0.0 per share.

What restricted stock units were granted to the IGC (IGC) CEO’s spouse?

The CEO’s spouse received 16,667 restricted stock units that vest immediately and 66,666 restricted stock units that vest over time. Each unit represents the right to receive one share of IGC common stock, and the holdings are reported as indirect ownership.

How do the IGC (IGC) restricted stock units for the CEO’s spouse vest?

One portion of 16,667 restricted stock units vests immediately. Another grant of 66,666 restricted stock units is scheduled to vest equally over two years, starting on March 31, 2026, according to the vesting terms disclosed in the filing footnotes.

Who is identified as the reporting person in the IGC (IGC) Form 4 filing?

The reporting person is CEO and director Ram Mukunda. However, the reported common stock and restricted stock unit positions are indicated as indirectly owned "BY SPOUSE," meaning they are held through his spouse rather than as directly owned personal holdings.

What does each IGC (IGC) restricted stock unit represent in this Form 4?

Each restricted stock unit represents a right to receive one share of IGC common stock. The filing specifies this one-for-one relationship, linking the spouse’s RSU grants directly to an equivalent number of potential IGC common shares upon settlement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 02/04/2026 - 05:31 PM Learn about SEC filing dates

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Mukunda Ram

(Last) (First) (Middle)

10224 FALLS ROAD

(Street)

POTOMAC MD 20854

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IGC Pharma, Inc. [ IGC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/03/2026

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	02/03/2026		M		50,000(1)	A	$0.0	860,752	I	BY SPOUSE

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
Restricted Stock Units	(4)	02/03/2026		A		16,667(2)		(2)	(2)	Common Stock	16,667	$0.0	16,667	I	BY SPOUSE
Restricted Stock Units	(4)	02/03/2026		A		66,666(3)		(3)	(3)	Common Stock	66,666	$0.0	66,666	I	BY SPOUSE

Explanation of Responses:

1. On February 3, 2026, the Reporting Person's spouse were granted RSUs subject to immediate vesting.

2. On February 3, 2026, the Reporting Person's spouse were granted RSUs subject to vesting on March 31, 2026.

3. On February 3, 2026, the Reporting Person's spouse were granted RSUs subject to vesting equally over two years starting on March 31, 2026.

4. Each restricted stock unit represents a right to receive one share of IGC common stock.

	/s/ Ram Mukunda	02/04/2026
	** 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.