Mehta Vimal 4

What Happened

• Vimal Mehta, CEO, President and Director of BioXcel Therapeutics (BTAI), had 18,000 restricted stock units (RSUs) convert/exercise into 18,000 common shares on May 1, 2026. The Form 4 reports an acquisition via exercise/conversion (transaction code M) and a simultaneous disposition recorded at $0.00. No cash proceeds are reported.

Key Details

• Transaction date: May 1, 2026 (reported on Form 4 filed May 7, 2026).
• Transaction type/code: Exercise/conversion of a derivative (M).
• Shares involved: 18,000 RSUs converted to 18,000 common shares.
• Price/consideration: $0.00 reported for the disposition; acquisition price shown as N/A (typical for RSU vesting/conversion).
• Shares owned after transaction: not specified in the filing; the shares are reported of record as held by BioXcel LLC (see footnote).
• Footnotes: F1 explains each RSU equals a contingent right to one share; F2 notes the securities are held of record by BioXcel LLC and the reporting person disclaims beneficial ownership except for any pecuniary interest; F3 shows the RSUs were granted Aug 1, 2025 and vest 100% on or within 30 days of nine months from the grant date (consistent with May 1, 2026 vesting).
• Timeliness: Filing was made May 7 for a May 1 transaction — Form 4s are normally due within two business days, so this appears to be a late filing.

Context

• This was a conversion/vesting of RSUs, not an open‑market purchase or cash sale. The $0.00 disposition typically reflects shares being recorded in the name of the company’s LLC or transferred without cash consideration (per footnote F2), not a sale for cash. Such vesting events are routine compensation actions and do not by themselves indicate a change in the insider’s market view.