Vimal Mehta - Mar 14, 2023 Form 4 Insider Report for BioXcel Therapeutics, Inc. (BTAI)

Role: CEO and President, Director
Signature: /s/ Javier Rodriguez, as Attorney in Fact for Vimal Mehta, Ph.D.
Stock symbol: BTAI
Transactions as of: Mar 14, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/16/2023, 06:00 PM
Previous filing: Feb 14, 2023
Next filing: Mar 22, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BTAI	Common Stock	Options Exercise		+10.4K	+104.82%		20.4K	Mar 14, 2023	Direct	F1
holding	BTAI	Common Stock						8.55M	Mar 14, 2023	See footnote	F2
holding	BTAI	Common Stock						2K	Mar 14, 2023	By spouse

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BTAI	Restricted Stock Units	Options Exercise	$0	-10.4K	-25%	$0.00	31.3K	Mar 14, 2023	Common Stock	10.4K		Direct	F1, F3
transaction	BTAI	Restricted Stock Units	Award	$0	+56K		$0.00	56K	Mar 15, 2023	Common Stock	56K		Direct	F1, F4
transaction	BTAI	Stock Option (Right to Buy)	Award	$0	+168K		$0.00	168K	Mar 15, 2023	Common Stock	168K	$19.60	Direct	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock.
F2	These securities are held of record by BioXcel LLC. BioXcel LLC is a subsidiary of BioXcel Holdings, Inc. ("Parent"). The Reporting Person is a manager and officer of BioXcel LLC and is a director, officer and stockholder of Parent. By virtue of these relationships, the Reporting Person may be deemed to be the beneficial owner of the securities held of record by BioXcel LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for the purpose of Section 16 or for any other purpose.
F3	On March 14, 2022, the Reporting Person was granted 41,750 RSUs, vesting as to 25% of the total number of RSUs on the first anniversary of March 14, 2022 and as to 6.25% of the total number of RSUs at the end of each successive three-month period thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.
F4	The RSUs will vest and settle as to 25% of the total number of RSUs on the first anniversary of March 15, 2023 and as to 6.25% of the total number of Restricted Stock Units at the end of each successive three-month period thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.
F5	The option vests and becomes exercisable as to 25% of the underlying shares on the first anniversary of March 15, 2023 and the remaining 75% of the underlying shares in 36 equal monthly installments thereafter, subject to the Reporting Person's continuous employment with the Issuer through the relevant vesting dates.