Javier Rodriguez - May 14, 2023 Form 4 Insider Report for BioXcel Therapeutics, Inc. (BTAI)

Role: Chief Legal Officer, Senior Vice President and Corporate Secretary
Signature: /s/ Richard Steinhart, as attorney-in-fact for Javier Rodriguez
Stock symbol: BTAI
Transactions as of: May 14, 2023
Transactions value $: -$48,765
Form type: 4
Date filed: 5/16/2023, 08:29 PM
Previous filing: Mar 16, 2023
Next filing: Jun 16, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BTAI	Common Stock	Options Exercise		+5K	+440.53%		6.14K	May 14, 2023	Direct	F1
transaction	BTAI	Common Stock	Sale	-$48.8K	-1.79K	-29.1%	$27.32	4.35K	May 15, 2023	Direct	F2, F3

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	-5K	-100%	$0.00^*	0	May 14, 2023	Common Stock	5K		Direct	F1, F4

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

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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	The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 22, 2022.
F3	The price reported is a weighted average price. The securities were sold in multiple transactions at per share prices ranging from $27.00 to $27.63. The Reporting Person undertakes to provide upon request the Securities and Exchange Commission staff, the Issuer, or any shareholder of the Issuer, full information regarding the number of securities sold at each separate price within the range set forth in this footnote.
F4	On May 14, 2022, the Reporting Person was granted 5,000 RSUs that vested and settled on May 14, 2023.

Remarks:

Chief Legal Officer, Senior Vice President and Corporate Secretary