Supernus (SUPN) Sr. VP Padmanabh Bhatt Exercises Awards; 1,158 Shares Withheld

What Happened

• Padmanabh P. Bhatt, Senior VP of IP & Chief Scientific Officer at Supernus Pharmaceuticals (SUPN), converted/exercised derivative awards on August 12, 2026 resulting in 2,500 shares being issued to him at $0 per share. To satisfy tax withholding related to vesting, the company withheld 1,158 shares and reported the withholding as a disposition at $46.57 per share, totaling $53,928. The filing also shows the related derivative position was extinguished/converted (reported as a derivative disposal).

Key Details

• Transaction date: 2026-08-12; Filing date: 2026-08-14 (appears timely — within typical 2-business-day window).
• Exercise/conversion: 2,500 shares acquired at $0.00 (derivative conversion/exercise, Code M).
• Tax withholding: 1,158 shares disposed at $46.57 each = $53,928 (Code F) to satisfy withholding on vested awards.
• Additional reporting: a 2,500-share derivative disposal line (Code M) reflects the conversion/extinguishment of the award instrument.
• Footnotes: F1 notes 251 shares were acquired via the company’s Employee Stock Purchase Plan; F2 confirms the 1,158-share withholding was to satisfy tax withholding on vested Performance Share Units; F3 states the PSUs were awarded Feb 19, 2025 with performance objectives set May 3, 2025.
• Shares owned after transaction: not specified in the provided filing details.

Context

• This appears to be a routine conversion/vesting of performance-based equity rather than an open-market sale or purchase. The withholding of shares to cover taxes is a common cashless settlement method and does not necessarily indicate a change in insider sentiment. The transaction involved conversion of derivative awards (M) and internal withholding (F), not an open-market trade (S).