Heerma Peter 4

What Happened

• Peter Heerma, Chief Commercial Officer of Travere Therapeutics (TVTX), had a small open-market sale of 7,310 shares on Feb 3, 2026 at $32.12 per share for proceeds of $234,797. He also received awards on Jan 31, 2026 totaling 95,760 units: 26,120 restricted stock units (RSUs) and 69,640 derivative units, each reported at $0.00 (grant value shown as $0 on the Form 4). The sale was a routine sell-to-cover tied to the vesting/settlement of equity awards, not a discretionary trade.

Key Details

• Transactions:
  • 2026-01-31: Award/Grant — 26,120 RSUs @ $0.00 (acquired)
  • 2026-01-31: Award/Grant (derivative) — 69,640 units @ $0.00 (acquired)
  • 2026-02-03: Open-market sale — 7,310 shares @ $32.12 = $234,797 (disposed)
• Shares owned after transaction: Not disclosed in the provided filing.
• Notable footnotes:
  • F1: Each RSU represents a contingent right to receive one share of common stock upon settlement.
  • F2: The 7,310-share sale was to satisfy tax withholding (“sell to cover”) required by the issuer’s equity plan and was not a discretionary sale by the reporting person.
  • F3: Vesting schedule note: one-fourth vests after one year, remainder vests in 36 equal monthly installments (applies to the grant terms disclosed).
• Filing info: Form filed 2026-02-03 covering transactions dated 2026-01-31; no late-filing indication in the provided data.

Context

• RSUs and derivative awards are grants (not purchases) and represent a future right to receive shares if/when vested and settled. The sale here was a mandated tax-withholding sale tied to those awards, which is common and does not necessarily reflect the insider’s view of the company. For retail investors, mandated sell-to-cover transactions are routine and less informative than voluntary open-market purchases.