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BioXcel Therapeutics, Inc.·4

May 22, 7:00 PM ET

Mehta Vimal 4

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BioXcel Therapeutics (BTAI) CEO Vimal Mehta Sells 19,419 Shares

What Happened

  • Vimal Mehta, CEO, President and a director of BioXcel Therapeutics (BTAI), had 49,758 restricted stock units (RSUs) convert to common shares on May 4, 2026 (an exercise/conversion of a derivative). Those RSU shares were recorded as acquired via conversion and reported in this Form 4.
  • On May 20, 2026, Mehta disposed of 19,419 of those shares in an open-market sale at a weighted-average price of $1.09 per share, generating proceeds of $21,108. The sale was executed under a Rule 10b5-1 trading plan adopted February 3, 2026 and was made solely to cover taxes due on the RSU vesting.

Key Details

  • Conversion/vesting date: May 4, 2026 — 49,758 RSUs converted to 49,758 shares (no cash paid; conversion of RSUs).
  • Sale date: May 20, 2026 — 19,419 shares sold at a weighted average price of $1.09 (per-share trades ranged $1.07–$1.105); total proceeds reported $21,108.
  • Purpose of sale: Per filing, sale under a 10b5-1 plan solely to cover tax withholding on RSU vesting (Footnote F2).
  • Record/beneficial ownership: The shares are held of record by BioXcel LLC (Footnote F4); Mehta is an executive officer and board member of related entities and disclaims beneficial ownership except to the extent of any pecuniary interest.
  • RSU grant context: The reported RSUs were part of a 199,032-RSU grant on Jan 1, 2026 with staggered 6‑month vesting (Footnote F5).
  • Filing date and timeliness: Form 4 was filed May 22, 2026. The May 20 sale was reported within a short window, but the May 4 RSU conversion was included in the May 22 filing (i.e., the conversion was reported later than the May 4 vesting date).
  • Shares owned after transaction: Not specified on the provided summary; filing notes record ownership via BioXcel LLC and includes the Reporting Person’s disclaimer (Footnote F4).

Context

  • These actions reflect RSU vesting and a routine sale to cover taxes rather than a fresh purchase signal; RSUs convert into shares rather than being purchased with cash. The 10b5-1 plan detail indicates the sale followed a prearranged plan.