Urist Marshall 4

What Happened
Urist Marshall, Executive Vice President, Research & Investments at Royalty Pharma (RPRX), sold 20,000 Class A ordinary shares on 2026-01-30 in an open-market sale. The weighted average sale price was $41.09 per share (range $40.88–$41.28), for total proceeds of approximately $821,810. This was a sale (not a purchase or exercise) and was executed pursuant to a pre-established 10b5-1 trading plan.

Key Details

• Transaction date: 2026-01-30; Form 4 filed 2026-02-02 (filing appears timely under the two-business-day rule).
• Shares sold: 20,000; weighted average price: $41.09; price range reported: $40.88 to $41.28.
• Proceeds reported: ~$821,810.
• Plan note: Sale effected under a 10b5-1 plan adopted by the reporting person on September 16, 2025 (Footnote F1).
• Price disclosure: Reported price is a weighted average; the filer can provide details of the number of shares sold at each price in the stated range on request (Footnote F2).
• Shares owned after transaction: Not specified on the face of this Form 4. The filing’s remarks note that the reporting person and related vehicles hold exchangeable limited partnership interests convertible into 2,474,120 Class A shares and Class E ordinary shares exchangeable into 1,356,528 Class A shares (Class E subject to vesting).

Context

• Sales executed under 10b5-1 plans are typically pre-scheduled and do not necessarily reflect current views about the company’s prospects.
• For retail investors, purchases generally signal stronger insider conviction than routine sales; this filing documents a planned sale rather than an opportunistic purchase.