IGC Pharma Director Richard K. Prins Receives 170,000 Shares

What Happened

• Richard K. Prins, a director of IGC Pharma (IGC), converted restricted stock units (derivative securities) into 170,000 shares of common stock on April 1, 2026. The filing shows acquisitions of 100,000 and 70,000 shares at $0.00 and corresponding dispositions of the underlying derivative units (code M = exercise/conversion of a derivative). No cash was paid; this reflects RSU conversion/vesting rather than an open-market purchase or sale.

Key Details

• Transaction date: April 1, 2026; Filing date (Form 4): April 6, 2026 (appears to be filed late; Form 4s are generally due within 2 business days).
• Price: $0.00 per share (conversion of RSUs, not a market purchase).
• Shares involved: 100,000 + 70,000 = 170,000 shares converted.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes: F1 — RSUs granted June 20, 2023 vesting equally over three years starting March 31, 2024. F2 — RSUs granted March 13, 2024 vesting equally over three years starting March 2025. F3 — Each RSU equals one share of IGC common stock.
• Transaction code: M (exercise or conversion of a derivative security).

Context

• This filing documents a routine RSU conversion/vesting event, not a market buy or sale; the simultaneous "disposition" entries reflect removal of the derivative RSU interest when converted to shares. Such conversions commonly occur upon vesting and do not, by themselves, indicate insider market sentiment. The late filing reduces timeliness of disclosure but does not change the underlying nature of the transaction.