Yocca Frank 4

What Happened
Frank Yocca, Chief Scientific Officer of BioXcel Therapeutics (BTAI), converted a total of 68 restricted stock units (RSUs) into common shares on March 14–15, 2026 (33 shares on Mar 14; 35 shares on Mar 15). The filing shows matching disposals for the same share counts at $0.00, so no cash proceeds were reported. The transaction type is listed as "M" (exercise/conversion of a derivative security).

Key Details

• Transaction dates: March 14, 2026 (33 shares) and March 15, 2026 (35 shares). Total converted: 68 shares.
• Prices/values reported: Acquisitions show price N/A; disposals reported at $0.00, total proceeds $0.00.
• Filing: Reported on Form 4 filed March 16, 2026 for transactions on March 14–15, 2026 (timely filing).
• Shares owned after the transaction: not specified in the provided excerpt.
• Relevant footnotes:
  • F1: Each RSU represents a contingent right to receive one share of common stock.
  • F2/F3: RSUs were granted March 14, 2022 (521 RSUs) and March 15, 2023 (562 RSUs) with standard time-based vesting (25% at first anniversary, then 6.25% quarterly thereafter).

Context

• Code M denotes exercise or conversion of a derivative; here it reflects RSUs vesting and converting into shares. The matching disposals at $0.00 are commonly how filings record shares surrendered upon conversion (often to satisfy tax withholding), but the filing excerpt does not specify the reason for the $0.00 disposals.
• These are not open-market purchases or sales intended as market bets; they reflect compensation vesting mechanics rather than an express buy/sell decision.