Kalb Michael Wayne 4
4 · CATALYST PHARMACEUTICALS, INC. · Filed Jul 17, 2026
Research Summary
AI-generated summary of this filing
Catalyst Pharmaceuticals (CPRX) CFO Michael Kalb Sells Shares in Merger
What Happened
Michael Wayne Kalb, Chief Financial Officer of Catalyst Pharmaceuticals (CPRX), disposed of company securities in connection with the closing of the company’s acquisition by Angelini Pharma S.p.A. On July 15, 2026 he surrendered 13,665 common shares at $31.50 per share for gross proceeds of $430,448. In addition, a total of 632,903 option/RSU-equivalent awards were cancelled/converted (reported at $0 per share because they were cash-settled under the merger terms).
Key Details
- Transaction date: July 15, 2026; Form 4 filed July 17, 2026 (filed within the standard 2‑business‑day window).
- Reported cash proceeds: $430,448 from sale of 13,665 common shares at $31.50.
- Other reported disposals (derivative/award items): 257,214; 169,248; 131,536; 21,416; 13,788; and 39,701 units (total 632,903) reported with $0 per-unit because they were cash‑settled.
- Total shares/equivalents affected: 646,568 (13,665 common shares + 632,903 options/RSUs).
- Footnotes: (F1–F5) disclose that the dispositions were made in connection with the Merger; RSUs/options vested on closing and were cancelled and converted into cash payments calculated under the merger (cash payments are net of tax withholdings).
- Filing timeliness: Noted as filed July 17 for a July 15 transaction — within the typical Form 4 reporting window (timely).
Context
These were disposals to the issuer as part of the acquisition closing, not open‑market sales. Options and restricted stock units vested at closing and were converted into cash payments per the merger agreement (i.e., cancelled and cashed out). Such merger-related cash settlements are routine corporate‑transaction outcomes and reflect the deal mechanics rather than an independent trading decision by the insider.
Insider Transaction Report
- Disposition to Issuer
Common Stock, par value $0.001 per share
[F1]2026-07-15$31.50/sh−13,665$430,448→ 0 total - Disposition to Issuer
Options to purchase common stock
[F3][F5]2026-07-15−257,214→ 0 totalExercise: $16.81Exp: 2031-01-01→ Common Stock (257,214 underlying) - Disposition to Issuer
Options to purchase common stock
[F3][F5]2026-07-15−169,248→ 0 totalExercise: $21.12Exp: 2031-11-21→ Common Stock (169,248 underlying) - Disposition to Issuer
Options to purchase common stock
[F3][F5]2026-07-15−131,536→ 0 totalExercise: $22.77Exp: 2032-11-20→ Common Stock (131,536 underlying) - Disposition to Issuer
Restricted Stock Units
[F2][F4][F5]2026-07-15−21,416→ 0 totalExp: 2029-01-01→ Common Stock (21,416 underlying) - Disposition to Issuer
Restricted Stock Units
[F2][F4][F5]2026-07-15−13,788→ 0 totalExp: 2027-11-21→ Common Stock (13,788 underlying) - Disposition to Issuer
Restricted Stock Units
[F2][F4][F5]2026-07-15−39,701→ 0 totalExp: 2028-11-20→ Common Stock (39,701 underlying)
Footnotes (5)
- [F1]The reported securities were disposed of in connection with the consummation of the acquisition of the Issuer by Angelini Pharma S.p.A. (the "Merger")
- [F2]Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.
- [F3]In connection with the consummation of the Merger, each reported stock option ("Option") was cancelled and converted into the right to receive a cash payment (without interest, and less applicable tax withholdings and other authorized deductions) equal to the product of (x) the excess of $31.50 per share over the per-share price of such Option, multiplied by (y) the total number of shares subject to such Option.
- [F4]In connection with the consummation of the Merger, each reported restricted stock unit ("RSU") was cancelled and converted into the right to receive a cash payment (without interest, and less applicable tax withholdings and other authorized deductions) equal to the product of (x) the excess of $31.50 per share, multiplied by (y) the number of shares subject to such RSU.
- [F5]Each Option or RSU, as applicable, vested in full in connection with the consummation of the Merger.