Travere (TVTX) Director Gary Lyons Exercises Options, Sells Shares

What Happened
Gary A. Lyons, a director of Travere Therapeutics (TVTX), exercised stock options to acquire 10,000 common shares (5,000 on 2026-08-17 and 5,000 on 2026-08-18) at an exercise price of $17.44 per share (total cash paid $174,400). On those same days he sold a total of 10,000 shares in multiple open-market transactions at prices between about $62.00 and $64.25, generating aggregate proceeds of approximately $632,846. The filing also shows the related derivative instruments being converted/settled (reported as $0.00 disposition entries), consistent with option exercises.

Key Details

• Transaction dates: August 17–18, 2026; Form 4 filed August 19, 2026 (timely filing).
• Option exercises: 10,000 shares exercised (5,000 on 8/17 and 5,000 on 8/18) at $17.44 each; total cost $174,400.
• Open-market sales: 10,000 shares sold across several trades; reported sale proceeds ≈ $632,846. Reported price ranges across trades: about $62.00–$64.25 (weighted-average prices provided per trade in footnotes).
• Footnotes: At least some sales were made under a 10b5-1 trading plan adopted May 18, 2026 (F1). The option grant exercised is fully vested and exercisable (F7). Detailed weighted-average and price ranges for each grouped sale are in footnotes F2–F6.
• Shares owned after transaction: Not disclosed in this filing.

Context

• These transactions are option exercises (derivative code M) followed by immediate open-market sales. That sequence often reflects exercising options and selling the resulting shares (sometimes to cover exercise cost or tax obligations), but the filing is purely transactional and does not state the holder’s intent.
• The presence of a 10b5-1 plan for some sales indicates at least portions of the selling were executed under a pre-established plan.
• No indication in the filing that this is a late report; the Form 4 was filed within the required reporting window.