Inhibikase (IKT) Insider Filing: 57,265 Shares Issued to Director After Acquisition

Rhea-AI Filing Summary

Insider share issuance tied to acquisition: This Form 4 shows director Amit Munshi received 57,265 shares of Inhibikase Therapeutics, Inc. (IKT) on 02/21/2025 as merger consideration for the acquisition of CorHepta Pharmaceuticals, Inc. Of those shares, 9,544 vested immediately on closing and 28,632 are scheduled to vest on the first anniversary of the closing. The remaining 19,089 shares are subject to a milestone-based vesting condition: 25% of that portion vests if a specified milestone is achieved and 75% vests on the first anniversary of closing, provided the reporting person continues service; if the milestone is not achieved by the first anniversary, all 19,089 shares are forfeited. The Form also discloses Mr. Munshi beneficially owns 365,000 shares indirectly through the Amit Munshi Revocable Trust. The filing is signed by an attorney-in-fact on 08/28/2025.

Positive

• Equity aligned to performance and service: Majority of issued shares vest over time or upon a milestone, aligning director incentives with post-acquisition outcomes
• Immediate ownership established: 9,544 shares vested on the closing date, giving the director immediate stake in the combined company

Negative

• Contingent tranche risk: 19,089 shares are forfeitable if the specified milestone is not achieved by the first anniversary, creating upside uncertainty
• Insufficient detail on milestone: The filing does not disclose the milestone conditions or thresholds, limiting investor ability to evaluate likelihood of vesting

Insights

Corporate Governance Expert

TL;DR: Director received equity as merger consideration with time- and milestone-based vesting, aligning incentives with post-closing performance and continued service.

The disclosure documents a typical post-acquisition equity allocation to a director: 57,265 shares issued at closing with explicit vesting mechanics. Immediate vesting of a subset (9,544 shares) provides near-term ownership, while the bulk is time- and milestone-conditioned, tying future realization to continued service and achievement of a defined objective. The report also clarifies indirect beneficial ownership of 365,000 shares via a revocable trust. There is no indication of sales or pledged shares in this filing. From a governance perspective, the structure preserves alignment without immediate dilution from secondary sales noted here.

M&A Specialist

TL;DR: Equity consideration disclosed as part of CorHepta acquisition includes contingent vesting tied to a milestone and time, reflecting deal-contingent compensation.

The Form 4 explicitly states these shares were issued as merger consideration under the merger agreement closing on 02/21/2025. Vesting terms split consideration between immediately vested shares, time-based vesting (first anniversary), and a conditional milestone tranche that may be forfeited if unmet by the anniversary. This mirrors common earnout-like structures used to preserve incentive alignment post-closing. The filing does not quantify the milestone or financial thresholds, so materiality of the contingent tranche to overall deal economics cannot be assessed from this document alone.

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^*

Munshi Amit

(Last) (First) (Middle)

1000 N. WEST STREET, SUITE 1200

(Street)

WILMINGTON DE 19801

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Inhibikase Therapeutics, Inc. [ IKT ]

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)
02/21/2025

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	02/21/2025		A		57,265(1)	A	$0	57,265	D
Common Stock								365,000	I	By Amit Munshi Revocable Trust

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

Explanation of Responses:

1. Represents shares of common stock issued to the Reporting Person as merger consideration upon the completion of the acquisition of CorHepta Pharmaceuticals, Inc. ("CorHepta") on February 21, 2025 (the "Closing Date") by the Issuer, pursuant to the Agreement and Plan of Merger and Reorganization by and among the Issuer, Project IKT Merger Sub, Inc., CorHepta, and Preston S. Klassen, solely in his capacity as sellers' representative. Of these, 9,544 shares vested on the Closing Date, 28,632 shares shall vest on the first anniversary of the Closing Date. 25% of the remaining 19,089 shares will vest upon achievement of a certain milestone and 75% will vest on the first anniversary of the Closing Date, subject to the Reporting Person's continued service through such date; provided that, if the milestone is not achieved by the first anniversary of the Closing Date, all 19,089 shares shall be forfeited.

	/s/ Mark Iwicki, attorney-in-fact	08/28/2025
	** Signature of Reporting Person	Date
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FAQ

What did Amit Munshi receive in the Form 4 filing for IKT?

Amit Munshi received 57,265 shares of Inhibikase common stock issued as merger consideration on 02/21/2025 related to the CorHepta acquisition.

How many of the issued shares vested immediately?

9,544 shares vested on the Closing Date (02/21/2025) according to the Form 4.

What are the vesting terms for the remaining shares?

28,632 shares vest on the first anniversary of the closing; 19,089 shares are contingent—25% vests on milestone achievement and 75% on the first anniversary, or forfeited if the milestone is not met by that anniversary.

Does Amit Munshi have additional beneficial ownership in IKT?

Yes. The filing reports 365,000 shares beneficially owned indirectly through the Amit Munshi Revocable Trust.

When was the Form 4 signed and filed?

The signature on the form is dated 08/28/2025, executed by Mark Iwicki as attorney-in-fact.