Catalyst Pharmaceuticals (CPRX) Director Donald Denkhaus Sells Shares

What Happened

• Donald A. Denkhaus, a director of Catalyst Pharmaceuticals (CPRX), had dispositions reported in connection with the July 15, 2026 closing of Catalyst’s acquisition by Angelini Pharma S.p.A. He disposed of 498,773 common shares at $31.50 each for proceeds of $15,711,350. In addition, a total of 178,163 derivative units (stock options and restricted stock units) were cancelled/settled in the transaction and reported as dispositions (listed at $0.00 in the filing because they were converted into cash payments under the merger terms).

Key Details

• Transaction date: 2026-07-15; Form 4 filed: 2026-07-17 (no late filing indicated).
• Primary cash sale: 498,773 shares @ $31.50 = $15,711,350 (sale/disposition to the issuer in connection with the merger).
• Derivative dispositions: 33,500; 30,000; 20,000; 15,000; 29,524; 23,248; 18,115; 1,414; 1,894; 5,468 (total 178,163) reported as disposed at $0.00 because they were cancelled and converted to cash under the merger agreement.
• Footnotes: (F1) dispositions were tied to the consummation of the Angelini merger; (F2–F4) RSUs and options were converted into cash payments (RSUs: cash = $31.50 × shares; Options: cash = (31.50 − option strike) × shares); (F5–F6) options were fully vested and vested in full on closing.
• Shares owned after the transactions are not specified in the provided excerpt of the filing.

Context

• These were not open-market trades: the transactions were merger-related cash settlements and share cancellations/repurchases as part of the acquisition. The filing shows dispositions to the issuer and cancellations of derivatives rather than voluntary sell-offs on the market. For retail investors, merger cash-outs and option/RSU conversions are routine corporate-transaction outcomes and do not necessarily indicate the insider’s private view on the company’s future.