GRIMALDI CLAUDIA 4

What Happened Claudia Grimaldi, a director of IGC Pharma (IGC), converted 100,000 restricted stock units (RSUs) into common shares and exercised 138,462 stock options on April 1, 2026. The RSU conversion was reported at $0.00; the option exercise was at $0.26 per share for a reported cash cost of $36,000. The filing also shows the derivative instruments (the RSUs and options) were reported as disposed/cancelled in connection with the conversions/exercise (reported at $0.00).

Key Details

• Transaction date: April 1, 2026 (reported on Form 4 filed April 6, 2026)
• Shares acquired: 100,000 (RSU conversion at $0.00) + 138,462 (option exercise at $0.26) = 238,462 shares
• Cash paid for exercise: $36,000 (per filing)
• Disposals listed: the related derivative instruments were reported disposed/cancelled at $0.00 (reflecting conversion/exercise)
• Shares owned after transaction: not specified in the provided filing details
• Footnotes from the filing:
  • F1: RSUs were granted June 20, 2023, vesting equally over three years beginning March 2024.
  • F2: Options were granted March 13, 2024, vesting equally over three years beginning March 2025; exercise price $0.26.
  • F3: Each RSU equals one share of common stock.
• Timeliness: Form 4 filed April 6 for April 1 transactions — outside the standard two-business-day filing window, so the filing appears late.

Context The disposals reported at $0.00 reflect conversion/cancellation of derivative awards (RSUs/options) rather than an open-market sale of shares. Net effect: Grimaldi acquired 238,462 common shares and paid $36,000 to exercise the options. Conversions of vested RSUs and routine option exercises are common insider activities and do not by themselves indicate a change in sentiment; the modest cash outlay here ($36k) is relatively small.