Dube Eric M 4

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.