Dreyer Scott 4

What Happened

• Scott Dreyer, EVP & Chief Commercial Officer of Collegium Pharmaceutical (COLL), received equity awards on Feb 10, 2026: 19,023 restricted stock units (RSUs) and 30,702 performance share units (PSUs) were recorded as acquired at $0.00 (awards/grants).
• To satisfy withholding tax obligations upon vesting, 9,977 shares and 21,615 shares were disposed (code F) at $46.75 per share, generating proceeds shown as $466,425 and $1,010,501 respectively — a total of 31,592 shares withheld and about $1,476,926 in value.
• These were award/vesting-related transactions (not open-market purchases or discretionary sales).

Key Details

• Transaction date(s): February 10, 2026; Form 4 filed February 12, 2026 (timely — within the usual 2‑business‑day reporting window).
• Prices reported: awards at $0.00 (A); tax-withheld share disposals at $46.75 per share (F).
• Shares owned after transaction: not disclosed in the provided filing.
• Notable footnotes:
  • F1: RSUs granted; each RSU converts to one share; one‑third of these RSUs vest Feb 10, 2027, with the remainder vesting annually over the next two years and will be settled in shares.
  • F2: 30,702 PSUs were deemed to have met performance-vesting criteria as of Feb 10, 2026.
  • F3/F4: The reported disposals reflect shares withheld by the issuer to satisfy applicable withholding taxes upon PSU and RSU vesting (tax-withholding, not market sale).

Context

• This is a vesting/award and tax-withholding event: the "disposed" shares are issuer-withheld to cover taxes and do not necessarily indicate a voluntary sale by the insider.
• PSUs are performance-based awards; the Compensation Committee determined performance criteria were met for the reported PSUs, triggering vesting.
• For retail investors, award vesting is routine compensation-related activity; purchases are typically more informative about insider conviction than tax-withholding dispositions.