{"url_path":"/sec/igc/8-k/2026-07-06/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-06","source_url":"https://www.sec.gov/Archives/edgar/data/1326205/0001185185-26-002808-index.html","accession_number":"0001185185-26-002808","cik":"0001326205","ticker":"IGC","issuer_name":"IGC Pharma, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1326205/0001185185-26-002808-index.html","primary_entity_key":"0001326205","primary_entity_name":"IGC Pharma, Inc."},"word_count":292,"has_tables":true,"body_markdown":"**Item 1.01 Entry into a Material Definitive Agreement**\n\n \n\nOn June 30, 2026, IGC Pharma, Inc. (the “Company”) entered\ninto separate Stock Purchase Agreements with Ram Mukunda, the Company’s Chief Executive Officer (“CEO”), and Claudia\nGrimaldi, the Company’s Vice President and Principal Financial Officer (“PFO”), pursuant to which Mr. Mukunda and Ms.\nGrimaldi purchased shares of the Company’s common stock, par value $0.0001 per share, directly from the Company at a purchase price\nof $0.27 per share. The purchase price was satisfied through the cancellation and satisfaction of outstanding amounts owed by the Company\nto each of them, including personal cash advances previously provided to the Company and other amounts deferred over multiple years.\n\n \n\nThe Company issued 2,226,475 shares of common stock to Mr. Mukunda\nin exchange for the cancellation and satisfaction of $601,148 of outstanding amounts owed to him, including about $283,639 of personal\ncash advances previously provided to the Company. The Company issued 2,048,378 shares of common stock to Ms. Grimaldi in exchange for\nthe cancellation and satisfaction of $553,062 of outstanding amounts owed to her, including about $268,723 of personal cash advances previously\nprovided to the Company.\n\n \n\nThe transactions were approved in advance by the independent directors\nand the Audit Committee, with the interested directors recused, including for purposes of Rule 16b-3 under the Securities Exchange Act\nof 1934.\n\n \n\nThe transactions did not involve any cash payments by the Company and\nreduced the Company’s outstanding obligations by $1,154,210, with a corresponding increase in stockholders’ equity.\n\n \n\nThe foregoing description of the Stock Purchase Agreements does not\npurport to be complete and is qualified in its entirety by reference to the form of Stock Purchase Agreement, filed as Exhibit 10.1 to\nthis Current Report on Form 8-K and incorporated herein by reference."}