Adler Reid G. 4
4 · Vistagen Therapeutics, Inc. · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
Vistagen (VTGN) CLO Reid G. Adler Receives ESPP Shares
What Happened
Reid G. Adler, Chief Legal Officer of Vistagen Therapeutics (VTGN), acquired 36,818 shares on 2026-06-30 under the company's Employee Stock Purchase Plan (ESPP). The shares were acquired at $0.19 per share for a total transaction value of $7,073. This was an acquisition (purchase), which is generally viewed as a more informative signal than routine sales.
Key Details
- Transaction date: 2026-06-30; Form 4 filed: 2026-07-02 (timely filing).
- Transaction type/code: Acquisition under ESPP (reported as "A").
- Shares acquired: 36,818 at $0.19 per share; total value $7,073.
- Shares owned after transaction: Not stated in the provided filing excerpt.
- Footnote: Acquisition made under the Issuer's 2019 Employee Stock Purchase Plan; reporting person purchased the maximum amount permitted under the ESPP. Transaction reported as exempt under Rule 16b-3.
Context
This was an ESPP purchase (paying payroll or other contributions to buy discounted company stock), not an option exercise or sale. Such purchases are common for employees participating in an ESPP and reflect a personal purchase of company stock rather than a disposition or gift.
Insider Transaction Report
- Award
Common Stock
[F1]2026-06-30$0.19/sh+36,818$7,073→ 60,868 total
Footnotes (1)
- [F1]Represents acquisition of shares under the Issuer's 2019 Employee Stock Purchase Plan, as amended (the "ESPP"), in a transaction exempt under Rule 16b-3 and Rule 16b-3(d). The Reporting Person purchased the maximum amount permitted under the ESPP.