GRIMALDI CLAUDIA 4

What Happened Claudia Grimaldi, a director of IGC Pharma (IGC), acquired 2,048,378 shares on 2026-06-30 at $0.27 per share, a total value of $553,062. The shares were issued in a private placement as consideration for the cancellation of $553,062 of debt owed by the company to Ms. Grimaldi (transaction coded as "A" — award/grant/acquisition). This was an acquisition (a purchase-like event) rather than a sale.

Key Details

• Transaction date and price: 2026-06-30 at $0.27 per share.
• Shares received: 2,048,378; total value: $553,062.
• Shares owned after transaction: not specified in the filing.
• Security status and exemption: shares are restricted under Rule 144 and were issued in a transaction exempt from registration under Section 4(a)(2) of the Securities Act.
• Approval and conflict handling: the issuance was pre-approved by disinterested directors and the Audit Committee; Ms. Grimaldi was recused for Rule 16b-3 purposes.
• Filing timeliness: Form 4 covering the transaction was filed on 2026-07-01 (timely within required reporting window).

Context This was a share issuance in exchange for cancellation of indebtedness (non-cash consideration), not an open-market purchase. Restricted shares and the exemption from registration mean they may be subject to resale limitations. Purchases/acquisitions by insiders can be informative to investors, but this filing only reports the transaction mechanics (debt-for-equity) and does not provide insight into Ms. Grimaldi’s motives.