James P. Moran - 13 Mar 2024 Form 4 Insider Report for IGC Pharma, Inc. (IGC)

Role: Director
Signature: /s/ James P Moran
Issuer symbol: IGC
Transactions as of: 13 Mar 2024
Net transactions value: $0
Form type: 4
Filing time: 15 Mar 2024, 21:05:55 UTC
Previous filing: 28 Jun 2023
Next filing: 27 Sep 2024
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	+50,000	+37%	$0.000000	183,334	13 Mar 2024	Direct	F1
transaction	IGC	Common Stock	Options Exercise	$0	+33,334	+18%	$0.000000	216,667	13 Mar 2024	Direct	F2
transaction	IGC	Common Stock	Options Exercise	$0	+80,000	+37%	$0.000000	296,667	13 Mar 2024	Direct	F3
transaction	IGC	Common Stock	Options Exercise	$0	+28,500	+9.6%	$0.000000	325,167	13 Mar 2024	Direct	F4
transaction	IGC	Common Stock	Options Exercise	$0	+29,000	+8.9%	$0.000000	354,167	13 Mar 2024	Direct	F4

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	Options Exercise	$0	-33,333	-50%	$0.000000	33,333	13 Mar 2024	Common Stock	33,333		Direct	F2, F5
transaction	IGC	Restricted Stock Units	Options Exercise	$0	-50,000	-100%	$0.000000^*	0	13 Mar 2024	Common Stock	50,000		Direct	F1, F5
transaction	IGC	Restricted Stock Units	Options Exercise	$0	-80,000	-33%	$0.000000	160,000	13 Mar 2024	Common Stock	80,000		Direct	F3, F5
transaction	IGC	Restricted Stock Units	Options Exercise	$0	-57,500	-29%	$0.000000	142,500	13 Mar 2024	Common Stock	57,500		Direct	F4, F5
transaction	IGC	Restricted Stock Units	Award	$0	+150,000		$0.000000	150,000	13 Mar 2024	Common Stock	150,000		Direct	F5, F6
transaction	IGC	Restricted Stock Units	Award	$0	+100,000		$0.000000	100,000	13 Mar 2024	Common Stock	100,000		Direct	F5, F7

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

Explanation of Responses:

Id	Content
F1	Represents 150,000 restricted shares of IGC common stock subject to vesting equally over three years starting on January 18, 2022, and then on March 2023 and 2024, as per the RSU Agreement with Director Moran.
F2	On May 25, 2022, the Reporting Person was granted RSUs subject to vesting equally over three years starting March 2023.
F3	On June 20, 2023, the Reporting Person was granted RSUs subject to vesting equally over three years starting March 2024.
F4	On June 20, 2023, 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.
F5	Each restricted stock unit represents a right to receive one share of IGC common stock.
F6	On March 13, 2024, the Reporting Person was granted RSUs subject to vesting equally over three years starting March 2025.
F7	On March 13, 2024, 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.