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COLLEGIUM PHARMACEUTICAL, INC·4

May 18, 4:15 PM ET

Freund John Gordon 4

Research Summary

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Collegium Pharma (COLL) Director John Freund Exercises Options, Sells Shares

What Happened

  • John G. Freund, a director of Collegium Pharmaceutical, exercised 8,700 options on 2026-05-15 at $16.49 per share for a total exercise cost of $143,463. On the same day he sold 4,127 shares in an open-market transaction at $34.54 each, generating $142,547 in proceeds. Separately, he was granted 8,741 restricted stock units (RSUs) on 2026-05-14 (no cash exchanged for the RSUs).

Key Details

  • Transaction dates and prices:
    • 2026-05-14: Award of 8,741 RSUs (grant; $0.00).
    • 2026-05-15: Exercise/conversion of derivative — 8,700 shares acquired at $16.49 (total $143,463).
    • 2026-05-15: Open-market sale — 4,127 shares sold at $34.54 (total $142,547).
    • 2026-05-15: Corresponding derivative disposal of 8,700 units shown at $0.00 (reflects conversion of the derivative instrument).
  • Shares owned after the transactions: Not specified in the filing.
  • Notable footnotes:
    • F1: The 8,741 RSUs vest the earlier of May 14, 2027 or the 2027 annual meeting, subject to continued service; settle in shares (or earlier on certain events) — these are contingent awards, not immediate stock.
    • F2/F3: Some holdings are held through the John Freund Family Partnership IV, L.P. and Skyline Venture Management V, LLC; Freund disclaims beneficial ownership except to his pecuniary interest.
    • F4: The option exercised was fully vested and exercisable.
  • Filing timing: The Form 4 was filed 2026-05-18 reporting transactions on 2026-05-14 and 05-15; this filing appears to be within normal Form 4 timing requirements.

Context

  • This was a mixed event: an option exercise (acquisition) followed by a partial open-market sale of the resulting shares (a common pattern when insiders exercise options and sell some shares to cover exercise cost/taxes). The RSU grant is a separate director compensation award that vests in the future and does not represent immediately tradeable shares. The derivative "disposed" entry reflects conversion/exercise of the option rather than a sale of the option contract itself.