[Form 4] Pasithea Therapeutics Corp. Insider Trading Activity
Pasithea Therapeutics Corp. granted Chief Medical Officer Kartik Krishnan a stock option to acquire 1,129,323 shares of common stock at an exercise price of $0.841 per share.
Rhea-AI Filing Summary
Pasithea Therapeutics Corp. granted Chief Medical Officer Kartik Krishnan a stock option to acquire 1,129,323 shares of common stock at an exercise price of $0.841 per share. This is a compensation-related award, not an open-market purchase or sale.
The option was granted under the company’s 2023 Stock Incentive Plan. 33% of the underlying shares vest on the one-year anniversary of the grant date, and the remaining shares vest in equal quarterly installments over the following two years, subject to continued service. All shares underlying the option fully vest upon a Change in Control as defined in the plan.
Vested and exercisable shares may be exercised for up to three years after termination of continuous service, except in the case of termination for Cause. Following this grant, Krishnan’s reported derivative holdings from this option total 1,129,323 option shares.
Positive
- None.
Negative
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Insider Trade Summary
Grant/Award: 1,129,323 shares
Grant/Award
1 txn
Insider
Krishnan Kartik
Role
Chief Medical Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (right to buy) | 1,129,323 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (right to buy) — 1,129,323 contracts (Direct)
Footnotes (1)
- F1. The option (the "Option") award was made in accordance with the terms of the Issuer's 2023 Stock Incentive Plan, as amended (the "Plan"). The shares of the Issuer's common stock, par value $0.0001 per share, underlying the Option will vest at the rate of 33% upon the one-year anniversary of the date of grant and the remaining shares will vest in equal quarterly installments thereafter for the next two years; provided, that the Reporting Person remains in continuous service to the Issuer through such vesting dates; provided further, that the shares underlying the Option will fully vest upon a Change in Control (as defined in the Plan). Additionally, all vested and exercisable shares underlying the Option held by the grantee may be exercised by the grantee for a period of up until three (3) years following termination of Continuous Service (as defined in the Plan), other than a termination for Cause (as defined in the Plan).
Key Figures
Option grant size: 1,129,323 shares
Exercise price: $0.841 per share
Expiration date: April 30, 2036
+3 more
6 metrics
Option grant size
1,129,323 shares
Stock option underlying common stock
Exercise price
$0.841 per share
Strike price of granted stock option
Expiration date
April 30, 2036
Option term end date
Initial vesting tranche
33% of shares
Vests on one-year anniversary of grant
Post-termination exercise window
3 years
Following termination of continuous service (excluding Cause)
Derivative holdings after grant
1,129,323 option shares
Total shares underlying this option following transaction
Key Terms
Stock Option, 2023 Stock Incentive Plan, Change in Control, Continuous Service, +1 more
5 terms
Stock Option financial
"The option (the "Option") award was made in accordance with the terms"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
2023 Stock Incentive Plan financial
"award was made in accordance with the terms of the Issuer's 2023 Stock Incentive Plan"
Change in Control financial
"the shares underlying the Option will fully vest upon a Change in Control"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
Continuous Service financial
"three (3) years following termination of Continuous Service"
Cause financial
"following termination of Continuous Service ... other than a termination for Cause"
FAQ
What did Pasithea Therapeutics (KTTA) report in this Form 4 filing?
Pasithea Therapeutics reported a stock option grant to Chief Medical Officer Kartik Krishnan for 1,129,323 common shares. The award is compensation under the 2023 Stock Incentive Plan, not an open-market trade, and carries a fixed exercise price of $0.841 per share.
What is the exercise price and expiration date of Kartik Krishnan’s KTTA stock option?
The granted stock option has an exercise price of $0.841 per share and expires on April 30, 2036. This long-dated option provides a multi-year window for potential exercise once shares have vested, subject to continued service and plan terms.
How does the vesting schedule work for the KTTA option granted to the Chief Medical Officer?
The option vests 33% on the one-year anniversary of the grant date, with remaining shares vesting in equal quarterly installments over the next two years. Vesting requires the executive to remain in continuous service to Pasithea Therapeutics through the applicable dates.
What happens to the KTTA stock option if there is a Change in Control?
If a Change in Control, as defined in the 2023 Stock Incentive Plan, occurs, all shares underlying the option fully vest. This means any unvested portion of the 1,129,323-share option becomes vested upon such an event, subject to the plan’s definitions and conditions.
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