Baynes Roy D. 4

What Happened
Roy D. Baynes, a director of Travere Therapeutics (TVTX), exercised 10,000 stock options on April 6, 2026 at $26.52 per share (cost $265,200) and on the same day sold 10,000 shares in an open-market transaction at $33.00 per share (proceeds $330,000). The Form 4 also reports a related conversion/disposition of 10,000 derivative shares at $0 (reported as a derivative disposition). The sale was made under a written 10b5-1 trading plan.

Key Details

• Transaction date: 2026-04-06. Exercise: 10,000 shares @ $26.52 = $265,200. Sale: 10,000 shares @ $33.00 = $330,000.
• Net proceeds (pre-tax, before fees) from the sale vs. exercise cost ≈ $64,800.
• Footnotes: (F1) Sale made pursuant to a 10b5-1 plan adopted Nov 17, 2025 and relates to options granted May 9, 2018. (F2) The option was fully vested and exercisable.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Filing: Report filed 2026-04-07 for transactions on 2026-04-06 (appears timely).

Context
This sequence—exercising vested options and selling the acquired shares the same day—is commonly a cashless exercise/sale and is often executed under pre-arranged 10b5-1 plans to avoid timing issues; it is generally considered routine and not a direct signal of new information. The 10b5-1 disclosure indicates the sale was pre-planned rather than spontaneous.