Tierney David S 4
4 · CATALYST PHARMACEUTICALS, INC. · Filed Jul 17, 2026
Research Summary
AI-generated summary of this filing
Catalyst Pharmaceuticals (CPRX) Director David Tierney Sells Shares
What Happened
David S. Tierney, a director of Catalyst Pharmaceuticals (CPRX), disposed of company equity in connection with the July 15, 2026 closing of the acquisition by Angelini Pharma. He sold 383,314 shares at $31.50 per share for reported proceeds of $12,074,391. In addition, a number of stock options and restricted stock units (RSUs) were cancelled/converted as part of the merger and are reported as derivative dispositions (listed with $0 proceeds in the table but described in the footnotes).
Key Details
- Transaction date: July 15, 2026 (reported on Form 4 filed July 17, 2026). Filing appears timely (within two business days).
- Reported cash proceeds: $12,074,391 from sale of 383,314 shares at $31.50 each.
- Other reported dispositions: multiple option and RSU holdings (33,500; 30,000; 20,000; 15,000; 29,524; 23,248; 18,115; 1,414; 1,894; 5,468) shown as derivative dispositions with $0 proceeds in the table—these reflect cancellation/conversion tied to the merger.
- Footnotes: (F1–F6) confirm all reported securities were disposed of due to the merger; RSUs represent contingent rights to one share; options and RSUs were cancelled and converted into cash payments based on $31.50 per share (options paid the excess over strike), and all options/RSUs vested in full at closing.
- Shares owned after the transaction: not included in the provided excerpt of the filing.
Context
These transactions are merger-related dispositions—common when a company is acquired and equity awards are cashed out. The filing shows a large cash payout to the director; it does not, by itself, indicate ongoing buying or selling intent beyond the merger consideration and award conversions.
Insider Transaction Report
- Disposition to Issuer
Common Stock, par value $0.001 per share
[F1]2026-07-15$31.50/sh−383,314$12,074,391→ 0 total - Disposition to Issuer
Options to purchase common stock
[F3][F5]2026-07-15−33,500→ 0 totalExercise: $4.64Exp: 2026-12-02→ Common Stock (33,500 underlying) - Disposition to Issuer
Options to purchase common stock
[F3][F5]2026-07-15−30,000→ 0 totalExercise: $3.42Exp: 2027-12-30→ Common Stock (30,000 underlying) - Disposition to Issuer
Options to purchase common stock
[F3][F5]2026-07-15−20,000→ 0 totalExercise: $7.07Exp: 2028-12-28→ Common Stock (20,000 underlying) - Disposition to Issuer
Options to purchase common stock
[F3][F5]2026-07-15−15,000→ 0 totalExercise: $18.59Exp: 2029-12-27→ Common Stock (15,000 underlying) - Disposition to Issuer
Options to purchase common stock
[F3][F6]2026-07-15−29,524→ 0 totalExercise: $14.15Exp: 2030-12-08→ Common Stock (29,524 underlying) - Disposition to Issuer
Options to purchase common stock
[F3][F6]2026-07-15−23,248→ 0 totalExercise: $21.12Exp: 2031-11-21→ Common Stock (23,248 underlying) - Disposition to Issuer
Options to purchase common stock
[F3][F6]2026-07-15−18,115→ 0 totalExercise: $22.77Exp: 2032-11-20→ Common Stock (18,115 underlying) - Disposition to Issuer
Restricted Stock Units
[F2][F4][F6]2026-07-15−1,414→ 0 totalExp: 2026-12-08→ Common Stock (1,414 underlying) - Disposition to Issuer
Restricted Stock Units
[F2][F4][F6]2026-07-15−1,894→ 0 totalExp: 2027-11-21→ Common Stock (1,894 underlying) - Disposition to Issuer
Restricted Stock Units
[F2][F4][F6]2026-07-15−5,468→ 0 totalExp: 2028-11-20→ Common Stock (5,468 underlying)
Footnotes (6)
- [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 was fully vested.
- [F6]Each Option or RSU, as applicable, vested in full in connection with the consummation of the Merger.