Collegium (COLL) Director John Freund Sells 20 Shares

What Happened John G. Freund, a director of Collegium Pharmaceutical, sold 20 shares in an open-market disposition on May 18, 2026. The shares were sold at $34.05 each for a total gross value of $681. This was a sale (S code) — a small, routine disposition rather than a purchase signal.

Key Details

• Transaction date and price: 2026-05-18 — 20 shares at $34.05 per share (total $681).
• Filing date: Form 4 filed 2026-05-20 (appears to be filed within the typical two-business-day window).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnotes of note:
  • F1: The shares are held by the John Freund Family Partnership IV, L.P.; Freund is trustee/beneficiary of a trust that is the partnership’s general partner and disclaims beneficial ownership except for his proportionate pecuniary interest.
  • F2: Some shares are held by Skyline Venture Management V, LLC, managed by Freund and Y. Kaneko; Freund disclaims beneficial ownership except for any proportionate pecuniary interest.
• Transaction type: Sale (S). No 10b5-1 plan, tax withholding, or option activity reported in this excerpt.

Context

• The transaction size is very small ($681) and likely routine; such small sales normally do not indicate a change in insider sentiment by themselves.
• Because the shares are held through partnership and LLC vehicles (see footnotes), Freund’s reported ownership is through those entities and he disclaims direct beneficial ownership except to his pecuniary interest.