Pasithea Therapeutics (KTTA) CEO awarded 1.76M stock options at $0.841
Rhea-AI Filing Summary
Pasithea Therapeutics Corp. reported that Chief Executive Officer Tiago Marques received a stock option grant covering 1,756,069 shares of common stock. The option has an exercise price of $0.841 per share and expires on April 30, 2036.
According to the grant terms, 33% of the underlying shares vest on the one-year anniversary of the grant date, with the remaining shares vesting in equal quarterly installments over the following two years, as long as he remains in continuous service. All unvested shares fully vest upon a Change in Control under the company’s 2023 Stock Incentive Plan. Vested options may generally be exercised for up to three years after termination of continuous service, other than for cause.
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Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Marques Tiago
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (right to buy) | 1,756,069 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (right to buy) — 1,756,069 shares (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: 1,756,069 shares
Exercise price: $0.841 per share
Expiration date: April 30, 2036
+2 more
5 metrics
Option grant size
1,756,069 shares
Stock option covering common stock granted to CEO
Exercise price
$0.841 per share
Strike price of CEO stock option grant
Expiration date
April 30, 2036
Option term end date for CEO grant
Initial vesting portion
33%
Vests on one-year anniversary of grant date
Post-termination exercise window
3 years
Exercise period after termination, excluding for Cause
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 of the Issuer's 2023 Stock Incentive Plan"
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, as amended"
Change in Control financial
"the shares underlying the Option will fully vest upon a Change in Control (as defined in the Plan)"
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 (as defined in the Plan)"
Cause financial
"three (3) years following termination of Continuous Service ..., other than a termination for Cause (as defined in the Plan)"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Pasithea Therapeutics (KTTA) disclose about Tiago Marques’ latest equity award?
Pasithea Therapeutics disclosed that CEO Tiago Marques received a stock option grant for 1,756,069 shares of common stock. The award was issued under the company’s 2023 Stock Incentive Plan and represents compensation, not an open-market share purchase or sale.
What is the exercise price and expiration date of Tiago Marques’ KTTA stock options?
The CEO’s option grant has an exercise price of $0.841 per share and an expiration date of April 30, 2036. These terms define the price at which he can buy shares and the final date by which he must exercise the options.
How do the new KTTA stock options granted to the CEO vest over time?
The options vest 33% on the one-year anniversary of the grant date. The remaining shares then vest in equal quarterly installments over the following two years, provided Tiago Marques remains in continuous service with Pasithea Therapeutics throughout each vesting date.
What happens to Tiago Marques’ KTTA options if there is a Change in Control?
If a Change in Control occurs, as defined in Pasithea’s 2023 Stock Incentive Plan, the shares underlying the CEO’s option will fully vest. This accelerates vesting, allowing him to exercise all underlying vested options under the plan’s terms.
How long can Tiago Marques exercise his vested KTTA options after leaving the company?
All vested and exercisable shares under the option may be exercised for up to three years following termination of continuous service. This extended post-termination exercise period does not apply if termination is for Cause, as defined in the company’s stock incentive plan.