Baynes Roy D. 4

What Happened
Roy D. Baynes, a director of Travere Therapeutics (TVTX), exercised 4,500 stock options on 2026-05-05 (exercise price $18.27, cost $82,215) and sold the 4,500 underlying shares in an open-market transaction the same day at $46.65 per share, generating $209,925 in gross proceeds. The filing shows the option itself was converted/terminated as part of the exercise.

Key Details

• Transaction date: 2026-05-05.
• Option exercise: 4,500 shares acquired at $18.27 per share — total exercise cost $82,215 (transaction code M).
• Open-market sale: 4,500 shares sold at $46.65 per share — total proceeds $209,925 (transaction code S).
• Derivative disposition: 4,500 option units reported disposed at $0.00, reflecting conversion/termination upon exercise.
• Footnotes: sale made pursuant to a written Rule 10b5-1 trading plan adopted Nov 17, 2025 (F1); the option was fully vested and exercisable (F2).
• Shares owned after the transaction: not specified in the data provided.
• Filing timeliness: Form 4 was filed 2026-05-06 for a 2026-05-05 transaction — appears timely.

Context
This was an exercise-and-sell sequence completed the same day and executed under a pre-established 10b5-1 plan, which typically means the sale followed pre-set instructions rather than a contemporaneous decision. Exercises that are immediately sold are common for liquidity or tax purposes and do not necessarily signal a view on the company’s prospects.