REED ELIZABETH E 4

What Happened Elizabeth E. Reed, Chief Legal Officer and General Counsel of Travere Therapeutics (TVTX), exercised 10,000 stock options and immediately sold 10,000 shares in an open-market transaction. She paid $15.46 per share to exercise the options (10,000 shares x $15.46 = $154,600) and sold the 10,000 shares at $30.00 per share for total proceeds of $300,000. The filing also shows a derivative disposition of 10,000 units at $0.00 related to the option conversion.

Key Details

• Transaction date: April 1, 2026.
• Option exercise: 10,000 shares acquired at $15.46 each (total cost $154,600).
• Open-market sale: 10,000 shares sold at $30.00 each (total proceeds $300,000).
• Derivative entry: 10,000 units disposed at $0.00 (reflects conversion/termination of the option instrument).
• Footnotes: Sale executed under a 10b5-1 written plan adopted June 16, 2025; the option grant (from Jan 31, 2020) is fully vested and exercisable.
• Shares owned after the transaction: not disclosed in the provided filing excerpt.
• Filing timeliness: Report filed April 2, 2026 for transactions on April 1, 2026 (appears timely).

Context This was an exercise of vested options followed by an immediate open-market sale of the resulting shares — commonly a cashless exercise/sale. The sale was pre-arranged under a Rule 10b5-1 plan, which schedules sales in advance and is designed to reduce concerns about trading on nonpublic information. The transaction is routine insider liquidity rather than a direct statement of company outlook.