Mukunda Ram 4

What Happened

• Mukunda Ram, CEO and director of IGC Pharma (IGC), reported exercising/converting derivative awards on April 1, 2026. The filing shows acquisitions totaling 706,409 shares made via exercise/conversion of derivatives. Of those, 323,077 shares were exercised at a $0.26 strike price for aggregate cash paid of $84,000; the remaining shares were recorded as acquired at $0.00 (consistent with RSU conversions or zero‑strike instruments).
• The Form 4 also shows matching disposals of the same derivative instruments at $0.00. Those derivative disposals reflect the conversion/exercise of the instruments (reported as derivative dispositions) and are not reported here as open‑market cash sales of the underlying shares.

Key Details

• Transaction date: April 1, 2026 (Form filed April 6, 2026).
• Specific entries: 333,333 @ $0.00; 323,077 @ $0.26 (paid $84,000); 16,667 @ $0.00; 33,332 @ $0.00 — total acquired 706,409 shares.
• Matching derivative dispositions recorded for the same quantities at $0.00 (these represent conversion/exercise of the derivative instruments).
• Shares owned after the transactions: not specified in the supplied summary — see the full Form 4 for post‑transaction holdings.
• Footnotes from the filing: F1 (RSUs granted 6/20/2023, vesting equally over 3 years starting 3/31/2024); F2 (options granted 3/13/2024 exercisable at $0.26, vesting over 3 years starting March 2025); F3 & F4 (spouse granted RSUs on 6/26/2025 and 2/3/2026); F5 (each RSU = one share).
• Filing timeliness: Form filed April 6 for April 1 transactions; the summary provided does not include a late‑filing flag — check the full filing for any timeliness designation.

Context

• Code M on Form 4 indicates exercise or conversion of a derivative (options or RSUs). The presence of matching derivative disposals at $0.00 typically reflects conversion/cancellation of the derivative upon settlement rather than an outright market sale of underlying shares; the only cash outlay reported here was $84,000 to exercise option shares at $0.26.
• For retail investors: exercises/conversions are routine for executives when awards vest; purchases (cash outlay) can be a stronger bullish signal than mere vesting/conversion, but filings alone don’t explain the insider’s motives. Check the full Form 4 for post‑transaction holdings and any additional disclosures.