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

Role
CEO and President, Director
Signature
/s/ Richard Steinhart, as Attorney in Fact for Vimal Mehta, Ph.D.
Issuer symbol
BTAI
Transactions as of
14 Jun 2023
Net transactions value
-$1,227,127
Form type
4
Filing time
16 Jun 2023, 18:40:04 UTC
Previous filing
24 May 2023
Next filing
18 Sep 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BTAI Common Stock Options Exercise +2,609 +7% 39,903 14 Jun 2023 Direct F1
transaction BTAI Common Stock Options Exercise $12,300 +30,000 +75% $0.4100* 69,903 15 Jun 2023 Direct
transaction BTAI Common Stock Sale $470,763 -21,988 -31% $21.41 47,915 15 Jun 2023 Direct F2, F3
transaction BTAI Common Stock Sale $175,463 -8,012 -17% $21.90 39,903 15 Jun 2023 Direct F2, F4
transaction BTAI Common Stock Options Exercise $12,300 +30,000 +75% $0.4100* 69,903 16 Jun 2023 Direct
transaction BTAI Common Stock Sale $499,990 -24,987 -36% $20.01 44,916 16 Jun 2023 Direct F2, F5
transaction BTAI Common Stock Sale $89,159 -4,266 -9.5% $20.90 40,650 16 Jun 2023 Direct F2, F6
transaction BTAI Common Stock Sale $16,352 -747 -1.8% $21.89 39,903 16 Jun 2023 Direct F2
holding BTAI Common Stock 2,000 14 Jun 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 -2,609 -8.3% $0.000000 28,704 14 Jun 2023 Common Stock 2,609 Direct F1, F7
transaction BTAI Stock Option (Right to Buy) Options Exercise $0 -30,000 -8.5% $0.000000 324,000 15 Jun 2023 Common Stock 30,000 $0.4100 Direct F8
transaction BTAI Stock Option (Right to Buy) Options Exercise $0 -30,000 -9.3% $0.000000 294,000 16 Jun 2023 Common Stock 30,000 $0.4100 Direct F8
* 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 plan that complies with Rule 10b5-1 entered into on August 31, 2022.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.83 to $21.825, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.83 to $22.03, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.57 to $20.42, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.59 to $21.44, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F7 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.
F8 The option is fully vested and exercisable.