Andrews William T. 4

What Happened William T. Andrews, Chief Medical Officer of Catalyst Pharmaceuticals (CPRX), exercised derivative awards on June 3, 2026 that converted into 3,052 shares of common stock. To satisfy withholding tax obligations, 743 of those shares were withheld by the company, leaving a net delivery of 2,309 shares to the reporting person. The filing shows a related prior-year entry (2025) reporting a 3,052-share derivative conversion at $0.00, but the primary transaction in this report is the June 3, 2026 conversion and the tax withholding.

Key Details

• Transaction dates: June 3, 2026 (exercise/conversion and tax withholding). Form 4 filed June 5, 2026 (filed within the standard two-business-day window).
• Shares acquired via exercise/conversion (code M): 3,052 shares on 2026-06-03.
• Shares disposed to cover taxes (code F): 743 shares withheld on 2026-06-03.
• Net shares delivered to Andrews on this tranche: 2,309 shares (3,052 − 743).
• Price/consideration: The 2026 exercise price is listed as N/A in the reported lines; a 2025 line shows a $0.00 per-share figure for a similar 3,052-share conversion.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Relevant footnotes:
  • F1/F2: These involve restricted stock units converting to common shares and shares withheld to satisfy taxes on vesting.
  • F3: The derivative awards vest in five equal tranches (1/5th each) on June 2 of 2026–2030.
  • F4: Shares from the first tranche were required to be delivered within 60 days; delivery occurred on June 3, 2026.

Context This was an exercise/conversion of company-granted derivative awards that resulted in issuance of shares, not an open-market purchase or sale. The withholding of 743 shares is a routine tax-withholding action (not an open-market sale) to satisfy payroll/tax obligations upon vesting/conversion. The filing appears timely (transaction date June 3, filed June 5). For retail investors, exercises/vestings are common compensation events and do not by themselves indicate the insider is buying additional stock in the market or signaling a change in view.