SANTINI GINO 4

What Happened Gino Santini, a director of Collegium Pharmaceutical, exercised stock options on June 8, 2026, resulting in the acquisition of 8,700 common shares at an exercise price of $16.49 per share for a total cash outlay of $143,463. The Form 4 also reports a matching derivative disposition of 8,700 units at $0.00 (both transactions are coded M for option exercise/conversion). The filing does not show an open‑market sale of the acquired shares.

Key Details

• Transaction date: 2026-06-08; Form 4 filed: 2026-06-10 (appears timely).
• Acquired: 8,700 shares at $16.49/share — total $143,463.
• Disposed: 8,700 derivative units at $0.00 (reported separately, code M).
• Footnote: F1 — The option was fully vested and exercisable.
• Shares owned after the transactions: not disclosed in the filing.

Context This was an exercise of options (derivative conversion) rather than an open‑market purchase or sale. The reported $0.00 disposition commonly reflects the conversion/surrender of the derivative instrument or a net settlement step related to the exercise; the filing’s footnote confirms the option was vested. There is no indication in the Form 4 that shares were immediately sold.