John E. Lynch - 31 May 2022 Form 4 Insider Report for India Globalization Capital, Inc. (IGC)

Role: Director
Signature: /s/ John E. Lynch
Issuer symbol: IGC
Transactions as of: 31 May 2022
Net transactions value: $0
Form type: 4
Filing time: 28 Jun 2022, 20:24:35 UTC
Previous filing: 04 Jun 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IGC	COMMON STOCK	Options Exercise	$0	+28,125	+29%	$0.000000	125,026	31 May 2022	Direct	F1
transaction	IGC	COMMON STOCK	Options Exercise	$0	+9,375	+7.5%	$0.000000	134,401	01 Jun 2022	Direct	F1

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	IGC	Restricted Stock Units	Award	$0	+150,000	+100%	$0.000000	300,000	20 Dec 2021	Common Stock	150,000	$0.000000	Direct	F1
transaction	IGC	Restricted Stock Units	Options Exercise	$0	-28,125	-9.4%	$0.000000	271,875	31 May 2022	Common Stock	28,125	$0.000000	Direct	F1
transaction	IGC	Restricted Stock Units	Options Exercise	$0	-9,375	-3.4%	$0.000000	262,500	01 Jun 2022	Common Stock	9,375	$0.000000	Direct	F1

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

Explanation of Responses:

Id	Content
F1	On December 20, 2021, the Reporting Person was granted RSUs subject to vesting according to specific milestones set by the Company's Board of Directors. The RSUs vest when milestones are achieved. On May 31 and June 1, 2022, two of the milestones related to our IGC-AD1 clinical trials were reached.