Krishnan Nandabalan - 06 Apr 2023 Form 4 Insider Report for BioXcel Therapeutics, Inc. (BTAI)

Role
Director, 10%+ Owner
Signature
/s/ Krishnan Nandabalan
Issuer symbol
BTAI
Transactions as of
06 Apr 2023
Transactions value $
-$1,014,600
Form type
4
Filing time
10 Apr 2023, 18:20:14 UTC
Previous filing
06 Jan 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 $24.6K +60K $0.41* 60K 06 Apr 2023 Direct
transaction BTAI Common Stock Sale -$1.04M -60K -100% $17.32* 0 06 Apr 2023 Direct F1, F2
holding BTAI Common Stock 8.55M 06 Apr 2023 See footnote 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 Stock Options Options Exercise $0 -60K -16.95% $0.00 294K 06 Apr 2023 Common Stock 60K $0.41 Direct 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 The sale reported in this Form 4 were effected pursuant to a plan that complies with Rule 10b5-1 entered into on August 31, 2022.
F2 The price reported is a weighted average price. The securities were sold in multiple transactions at per share prices ranging from $17.03 to $17.70. The Reporting Person undertakes to provide upon request the SEC 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.
F3 These securities are held of record by BioXcel LLC. BioXcel LLC is a subsidiary of BioXcel Holdings, Inc. ("Holdings"). By virtue of the Reporting Person's relationship with BioXcel LLC and Holdings, 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.
F4 The options are fully vested and exercisable.