Dube Eric M 4
4 · Travere Therapeutics, Inc. · Filed May 6, 2026
Research Summary
AI-generated summary of this filing
Travere (TVTX) CEO Eric Dube Sells 22,500 Shares
What Happened
Eric M. Dube, CEO of Travere Therapeutics (TVTX), reported the vesting/conversion of 22,500 performance restricted stock units (PSUs) and the subsequent sale of those 22,500 shares. The open-market sale occurred on May 6, 2026 at $43.95 per share for proceeds of $988,875. The underlying PSUs were part of a 45,000-PSU grant from January 31, 2024; 50% (22,500) vested on May 4, 2026 after a FILSPARI revenue-based performance milestone was met.
Key Details
- Vesting/conversion: 22,500 shares vested/converted on 2026-05-04 (recorded as exercise/conversion of a derivative at $0.00). A remaining portion of the original 45,000-PSU grant may vest later (an additional 25% scheduled for 2027 subject to continued service).
- Sale: 22,500 shares sold on 2026-05-06 at $43.95 each, total proceeds $988,875.
- Plan/withholding: The sale was made under a written Rule 10b5-1 trading plan adopted June 16, 2025 and included shares sold to cover the tax obligation from the PSU vesting (per footnote).
- PSU mechanics: Each PSU is a contingent right to one share at target, subject to performance adjustments. The filing shows the conversions at $0.00, indicating no cash purchase price for the vested PSUs.
- Shares owned after transaction: not specified in this Form 4.
- Filing timeliness: Form 4 was filed on 2026-05-06 for transactions dated May 4 and May 6, 2026 (no late-filing indication).
Context
This was a routine sell-to-cover following the vesting/conversion of performance equity — the PSUs vested when a revenue milestone was met and some of the resulting shares were sold pursuant to the pre-existing 10b5-1 plan to satisfy tax obligations. The filing also notes potential additional vesting (25% on Jan 31, 2027) if service continues; no speculative conclusions about motivation should be drawn from this routine post-vesting sale.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-05-04+22,500→ 455,386 total - Sale
Common Stock
[F2]2026-05-06$43.95/sh−22,500$988,875→ 432,886 total - Award
Performance-based restricted stock units
[F3][F1]2026-05-04+45,000→ 45,000 total→ Common Stock (45,000 underlying) - Exercise/Conversion
Performance-based restricted stock units
[F3][F1]2026-05-04−22,500→ 22,500 total→ Common Stock (22,500 underlying)
Footnotes (3)
- [F1]On January 31, 2024, the Reporting Person was granted performance restricted stock units (PSUs) covering 45,000 shares of the Issuer's common stock, to vest upon the satisfaction of certain performance criteria. If any such milestone is achieved on a pre-specified accelerated timeline, up to 50% additional shares attributable to such milestone achievement could vest under these PSU grants, with such additional potential shares to vest at a later date in furtherance of retention objectives. On May 4, 2026, 50% of the PSUs vested upon the Issuer's confirmation following the release of its financial results for the quarter ended March 31, 2026 that a performance criterion related to cumulative FILSPARI net revenue had been achieved, and contingent on continuous service by the Reporting Person, on January 31, 2027 an additional 25% of such PSUs will vest due to the timing of the achievement of such cumulative FILSPARI net revenue performance criterion.
- [F2]This sale was made pursuant to a written plan adopted on June 16, 2025, meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934, as amended, and includes the sale of shares to cover the tax obligation that occurred upon the vesting of performance restricted stock units.
- [F3]Each PSU represents a contingent right to receive one share of the Issuer's common stock at target, subject to adjustment based on the achievement of applicable performance conditions.