GEMAYEL GEORGES 4

What Happened
Georges Gemayel, a director of Supernus Pharmaceuticals (SUPN), reported multiple transactions in early March 2026. He sold 10,000 shares on 2026-03-05 for a weighted average price of $53.71 ($537,100) and sold 8,787 shares on 2026-03-06 for a weighted average price of $53.00 ($465,711), for total cash proceeds of about $1,002,811. On 2026-03-06 he also exercised or converted derivatives to acquire 7,905 shares at $25.30, costing approximately $199,997. The filing also shows a related derivative disposition of 7,905 units reported at $0 (a reporting entry tied to the option/derivative conversion).

Key Details

• Transaction dates: 2026-03-05 (sale 10,000 shares) and 2026-03-06 (option exercise 7,905 shares acquired; sale 8,787 shares; derivative disposition 7,905 at $0).
• Prices & values: Sales — 10,000 @ $53.71 = $537,100 (weighted avg; range $53.50–$54.15 per footnote F1); 8,787 @ $53.00 = $465,711 (weighted avg; range $53.00–$53.03 per footnote F2). Exercise — 7,905 @ $25.30 = $199,997. Combined sales ≈ $1,002,811.
• Shares owned after transaction: not reported in the provided filing.
• Footnotes: sale prices are weighted averages across multiple execution prices (see F1 and F2). The filer offers to provide per-price breakdowns on request.
• Filing date: Form filed 2026-03-09 covering trades on 3/05–3/06; this appears to be filed within a few business days of the transactions.

Context
The director both exercised options and sold shares in the same period. Exercising options to acquire shares (reported here at $25.30 per share) and then selling shares can be part of a cashless or partial-sale process to cover option costs or lock in gains; the filing shows both the acquisition by exercise and separate open-market sales. The reported derivative disposition at $0 is likely a reporting artifact tied to the conversion/exercise of the derivative. These insider sales are factual disclosures and do not, by themselves, indicate company performance or insider intent.