BOHLIN GAREN G 4

What Happened

• Garen G. Bohlin, a director of Collegium Pharmaceutical (COLL), exercised options to acquire 8,700 shares and then sold those 8,700 shares in the open market on May 11, 2026. The exercise cost reported was $143,463 (8,700 shares × $16.49). The shares were sold for total proceeds of $323,491 (weighted-average sale price reported as $37.18; individual sale prices ranged $37.18–$37.43). A derivative disposition is also reported at $0.00 consistent with the cashless exercise/convert-and-sell reporting format.

Key Details

• Transaction date: May 11, 2026
• Option exercise: 8,700 shares at $16.49 each — total exercise cost $143,463 (transaction code M)
• Sale: 8,700 shares sold in multiple transactions, weighted-average price $37.18 — proceeds $323,491 (transaction code S). Sale prices ranged $37.18–$37.43; reporting person can provide exact breakdown on request (Footnote F1).
• Derivative disposition: 8,700 shares shown disposed at $0.00 (common when options are exercised and resulting shares are immediately sold) (Footnote F2 notes the option was fully vested and exercisable).
• Shares owned after transaction: Not reported in the information you provided.
• Filing: Reported on Form 4 filed May 13, 2026 for a May 11 transaction — appears timely (Form 4 is generally due within two business days).

Context

• This was an exercise of vested options followed by an immediate sale of the acquired shares (a cashless exercise/convert-and-sell). That pattern locks in the spread between exercise price and sale proceeds; it does not by itself indicate a change in the insider’s longer-term view.
• For retail investors, purchases are often more informative as bullish signals; this transaction realized gains for the director but is routine when options are exercised and sold.