Karnani Vikram 4

What Happened
Vikram Karnani, President, CEO and a director of Collegium Pharmaceutical (COLL), received equity awards on February 10, 2026: 79,264 restricted stock units (RSUs) and 32,531 performance share units (PSUs) (both reported as acquisitions at $0.00). To satisfy withholding taxes on the vested awards, 11,296 shares were withheld/disposed at $46.75 per share, totaling $528,088.

Key Details

• Transaction date: February 10, 2026 (filed February 12, 2026 — timely filed).
• Awards: 79,264 RSUs (grant) and 32,531 PSUs (performance-vesting determined). Both reported as acquired at $0.00 per share.
• Tax withholding/disposition: 11,296 shares withheld at $46.75/share for $528,088 to cover taxes. (Code F—tax withholding.)
• Vesting/settlement notes: RSUs settle in shares; one-third vest on Feb 10, 2027, with the remainder vesting in equal annual installments over the next two years (footnote). PSUs vested because performance criteria were met (footnote).
• Misc. footnote: filing references 376 shares purchased under the company ESPP on July 18, 2025.
• Shares owned after the transaction: not specified in the provided filing details.

Context
RSUs and PSUs are compensation awards that convert to shares on vesting and reflect granted pay rather than open-market buying or selling. The 11,296-share disposition was a routine tax-withholding event (common when awards vest) and should not be read as an opportunistic sale of stock. The PSU portion reflects achievement of performance targets; the RSU portion follows a multi-year vesting schedule.