Coyne Terrance P. 4

What Happened

• Terrance P. Coyne, EVP & CFO of Royalty Pharma plc (RPRX), sold a total of 243,541 Class A ordinary shares across Feb 2–4, 2026 for aggregate proceeds of about $10.36 million. Sales were executed as open-market transactions (transaction code S) under a 10b5-1 trading plan adopted August 8, 2025.
• Breakdown by day (grouped by weighted-average price reported):
  • Feb 2, 2026: 108,424 shares (102,581 + 5,843) at a weighted avg $42.08 — proceeds ≈ $4,562,905 (prices ranged $41.45–$42.37).
  • Feb 3, 2026: 114,954 shares (108,759 + 6,195) at a weighted avg $42.84 — proceeds ≈ $4,924,997 (prices ranged $42.35–$43.03).
  • Feb 4, 2026: 20,163 shares (19,076 + 1,087) at a weighted avg $43.29 — proceeds ≈ $872,912 (prices ranged $43.11–$43.51).

Key Details

• Transaction dates: Feb 2–4, 2026; Form 4 filed Feb 4, 2026. No late filing is indicated.
• Total shares sold: 243,541; total proceeds: ≈ $10,360,814.
• Sales executed under a 10b5-1 plan (Footnote F1) — trades were prearranged.
• Reported prices are weighted averages with price ranges provided in footnotes (F2–F4); the filer offers to provide breakdowns on request.
• Shares owned after the transactions are not stated as direct holdings in the Form 4; the filing notes exchangeable interests equal to 6,448,180 Class A shares (RPI US Partners 2019, LP) and Class E interests exchangeable into 1,807,277 Class A shares of RPH (Class E subject to vesting).

Context

• These were outright sales (S) under a 10b5-1 plan — such pre-scheduled plans are commonly used by insiders to sell shares and do not necessarily indicate a change in insider sentiment.
• For retail investors, purchases are generally more informative about insider conviction; recorded sales like these primarily document liquidity actions.