Steinhart Richard I 4

What Happened Richard I. Steinhart, Chief Financial Officer of BioXcel Therapeutics (BTAI), converted restricted stock units (RSUs) into 68 shares of common stock: 33 shares on March 14, 2026 and 35 shares on March 15, 2026. The Form 4 reports these as derivative conversions (transaction code M). No cash was reported as paid or received for the conversions (reported $0).

Key Details

• Transaction dates: March 14, 2026 (33 shares) and March 15, 2026 (35 shares).
• Total shares received: 68 shares.
• Reported consideration: $0 (conversion of RSUs/derivative; reported as disposed/converted).
• Footnotes: F1–F3 indicate these were RSUs (each RSU = right to 1 share) granted on 3/14/2022 (521 RSUs) and 3/15/2023 (562 RSUs) with scheduled vesting; these conversions represent vested portions of those grants.
• Shares owned after the transaction: not specified in the provided excerpt.
• Filing: Report filed March 16, 2026 (appears timely based on transaction dates).

Context This filing documents the vesting/conversion of previously granted RSUs into common stock, not an open-market purchase or sale. Converting RSUs into shares is routine when awards vest; it does not by itself signal a buy or sell intent. Because the report shows conversion (derivative exercise/settlement) with $0 consideration, check future filings for any subsequent sales or tax-withholding share dispositions.