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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 stakes through debt-for-equity transactions.
According to the filing dated July 1, 2026, Director and Principal Financial Officer Claudia Grimaldi acquired 2,048,378 shares of IGC Pharma common stock at $0.27 per share in exchange for the cancellation of approximately $553,062 of debt owed to her by the company. Following the transaction, Grimaldi directly owns 3,421,092 shares. Form 4 IGC Pharma Inc (NYSE: IGC): July 1, 2026
In a separate transaction, Chief Executive Officer Ram Mukunda acquired 2,226,475 shares at $0.27 per share by cancelling approximately $601,148 of indebtedness owed to him by the company. Following the acquisition, Mukunda directly owns 6,875,563 shares of IGC Pharma common stock. Form 4 IGC Pharma Inc (NYSE: IGC): July 1, 2026
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.
The insider transactions come as IGC Pharma continues advancing its Phase 2 CALMA clinical trial evaluating IGC-AD1 for agitation associated with Alzheimer’s dementia, while also expanding its proprietary Artificial Intelligence (AI) platform designed to accelerate drug discovery and clinical research.