VistaGen Therapeutics Inc (VTGN)

[loanranger]

"They should be able to sell at least half to cover taxes instantly. That's usually prearranged and will state as such more or less on the 4 should they exercise the options. Whether or not they can sell all would be in the full plan."

These things are all news to me. I'm afraid that I don't agree with them.

Here's the 2016 plan:
https://www.sec.gov/Archives/edgar/data/1411685/000141588916006705/vtgndef14a_sep262016.htm
Here's the latest amendment:
https://www.sec.gov/Archives/edgar/data/1411685/000165495417006454/vtgn_pre14a.htm

I don't think they can sell any shares for 6 months.
I think they can either pay any taxes to the company as required withholding or return shares to the company for that purpose.
I've never seen Form 4 that deals with that issue other than a Form 5 that reflects an actual tax payment.
The Form 4 provide the details of the vesting schedule as adopted by the Board, not the plan itself. ("The Compensation Committee of the Board of Directors, referred to as the “Committee”, administers the 2016 Plan, including selecting the Award recipients, determining the number of shares to be subject to each Award, the exercise or purchase price of each Award and the vesting and exercise periods of each Award.")

But what do I know.