{"id":602249,"date":"2026-07-01T21:42:33","date_gmt":"2026-07-01T21:42:33","guid":{"rendered":"https:\/\/www.olympiajournal.com\/news\/story\/602249\/igc-pharma-nyse-igc-ceo-and-cfo-acquire-more-than-42-million-shares.html"},"modified":"2026-07-01T21:42:33","modified_gmt":"2026-07-01T21:42:33","slug":"igc-pharma-nyse-igc-ceo-and-cfo-acquire-more-than-42-million-shares","status":"publish","type":"post","link":"https:\/\/www.pennsylvania-magazine.com\/news\/story\/602249\/igc-pharma-nyse-igc-ceo-and-cfo-acquire-more-than-42-million-shares.html","title":{"rendered":"IGC Pharma (NYSE: IGC) CEO and CFO Acquire More Than 4.2 Million Shares"},"content":{"rendered":"
\"IGC<\/a><\/div>\n

IGC Pharma, Inc. (NYSE: IGC), a clinical-stage biotechnology company developing Alzheimer’s disease<\/strong> therapeutics and AI-enabled healthcare<\/strong> technologies, disclosed in a Form 4 filing that two senior executives increased their ownership stakes through debt-for-equity transactions.<\/p>\n

According to the filing dated July 1, 2026, Director and Principal Financial Officer Claudia Grimaldi acquired 2,048,378 shares<\/strong> of IGC Pharma common stock at $0.27 per share<\/strong> in exchange for the cancellation of approximately $553,062<\/strong> of debt owed to her by the company. Following the transaction, Grimaldi directly owns 3,421,092 shares<\/strong>. Form 4 IGC Pharma Inc (NYSE: IGC): July 1, 2026<\/a><\/p>\n

In a separate transaction, Chief Executive Officer Ram Mukunda acquired 2,226,475 shares<\/strong> at $0.27 per share<\/strong> by cancelling approximately $601,148<\/strong> of indebtedness owed to him by the company. Following the acquisition, Mukunda directly owns 6,875,563 shares<\/strong> of IGC Pharma common stock. Form 4 IGC Pharma Inc (NYSE: IGC): July 1, 2026<\/a><\/p>\n

The transactions were completed as private placements under the exemption provided by Section 4(a)(2) of the Securities Act of 1933. The shares were issued as restricted securities under Rule 144 and were approved in advance by disinterested members of the Board of Directors and the Audit Committee for Rule 16b-3 purposes.<\/p>\n

The insider transactions come as IGC Pharma continues advancing its Phase 2 CALMA clinical trial<\/strong> evaluating IGC-AD1<\/strong> for agitation associated with Alzheimer’s dementia<\/strong>, while also expanding its proprietary Artificial Intelligence (AI)<\/strong> platform designed to accelerate drug discovery<\/strong> and clinical research<\/strong>.<\/p>\n

 <\/p>\n

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\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

IGC Pharma, Inc. (NYSE: IGC), a clinical-stage biotechnology company developing Alzheimer’s disease therapeutics and AI-enabled healthcare technologies, disclosed in a Form 4 filing that two senior executives increased their ownership<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/posts\/602249"}],"collection":[{"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/comments?post=602249"}],"version-history":[{"count":0,"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/posts\/602249\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/media?parent=602249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/categories?post=602249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pennsylvania-magazine.com\/news\/wp-json\/wp\/v2\/tags?post=602249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}