Baynes Roy D. 4

What Happened

• Roy D. Baynes, a director of Travere Therapeutics (TVTX), exercised stock options on 2026-04-14 to acquire 32,750 shares and concurrently sold 32,750 shares in open-market transactions. The option exercises required cash payments totaling $576,308; the subsequent sales generated proceeds of $1,352,130. The exercises and sales were reported on a Form 4 filed April 16, 2026.

Key Details

• Exercise (acquired via option conversion) — totals and tranches:
  • 8,000 shares @ $17.94 = $143,520
  • 9,000 shares @ $15.43 = $138,870
  • 4,500 shares @ $18.27 = $82,215
  • 4,500 shares @ $21.38 = $96,210
  • 6,750 shares @ $17.11 = $115,493
  • Aggregate exercise cash paid: $576,308
• Open-market sales (disposed):
  • 26,000 shares @ $41.07 = $1,067,820
  • 6,750 shares @ $42.12 = $284,310
  • Aggregate sales proceeds: $1,352,130
• Additional Form entries list the option-to-share conversions as disposals at $0 (standard reporting for derivative exercises).
• Footnotes:
  • F1: The sales were made under a written 10b5-1 trading plan adopted 11/17/2025 and consist of sales of shares underlying options.
  • F2: The stock options were fully vested and exercisable.
• Shares owned after the transactions: not specified in the summary data provided.
• Filing timeliness: Form 4 filed April 16, 2026 for transactions on April 14, 2026 (filed within the typical two-business-day window).

Context

• This was an exercise of vested stock options followed by planned sales under a 10b5-1 plan — a common way insiders convert option holdings to cash. Because the acquired shares were largely sold in the same reporting period, this appears to be a routine cash-raising/cost-covering transaction rather than an unsolicited open-market purchase (which some investors view as a stronger bullish signal). The filing is factual and does not indicate the insider’s motivation.