Moran James P 4

What Happened

• James P. Moran, a director of IGC Pharma, reported exercise/conversion of derivative securities on April 1, 2026. The Form 4 shows 80,000 and 50,000 shares acquired (total 130,000) and matching dispositions of 80,000 and 50,000 shares (total 130,000). All transactions report $0 consideration. M is the SEC code for exercise or conversion of a derivative security.

Key Details

• Transaction date: 2026-04-01; Filing date (Form 4): 2026-04-06 (appears to be filed after the typical 2-business-day window).
• Reported activity: 80,000 shares acquired and 80,000 disposed; 50,000 shares acquired and 50,000 disposed — totals = 130,000 acquired and 130,000 disposed.
• Reported price/consideration: $0 per share for all entries; total cash consideration reported = $0.
• Shares owned after the transactions: not disclosed in the supplied filing details.
• Footnotes: F1 — RSUs granted June 20, 2023, vest equally over three years starting Mar 31, 2024. F2 — RSUs granted Mar 13, 2024, vest equally over three years starting Mar 2025. F3 — each restricted stock unit converts to one share of IGC common stock.

Context

• M-code transactions reflect conversion/exercise of derivative awards (e.g., RSUs/options). This filing shows matching acquisitions and dispositions on the same date, which is commonly seen when vested units are converted and some or all resulting shares are immediately disposed; the Form 4 does not state the reason (e.g., tax withholding or sale). The filing appears to have been submitted after the typical 2-business-day reporting window, which is worth noting for timing compliance but does not by itself indicate anything about company performance.