Senior management elects restricted common stock at $0.27 per share in lieu of repayment of amounts owed, including more than $552,362 of personal cash previously advanced to IGC

POTOMAC, MD / ACCESS Newswire / July 7, 2026 / IGC Pharma, Inc. (NYSE:IGC) ("IGC" or the "Company"), a clinical-stage biotechnology company developing therapeutics for Alzheimer's disease, today announced that Chief Executive Officer Ram Mukunda and Principal Financial Officer Claudia Grimaldi have purchased an aggregate of 4,274,853 shares of IGC common stock directly from the Company at $0.27 per share.

The shares were purchased through the cancellation of approximately $1.15 million of outstanding amounts owed by the Company to Mr. Mukunda and Ms. Grimaldi, including more than $552,362 of personal cash previously advanced to IGC and additional amounts deferred over multiple years. The $0.27 purchase price equaled the closing price of IGC common stock on the NYSE American on June 29, 2026, the trading day immediately preceding the transaction.

Mr. Mukunda purchased 2,226,475 shares of common stock through the cancellation of $601,148 owed to him by the Company, including $283,639 of personal cash previously advanced to IGC. Ms. Grimaldi purchased 2,048,378 shares of common stock through the cancellation of $553,062 owed to her by the Company, including $268,723 of personal cash previously advanced to IGC.

The transactions did not involve any cash payment by the Company and reduced outstanding obligations by approximately $1.15 million while increasing management's direct common equity ownership.