Urist Marshall 4

What Happened

• Urist Marshall, Executive Vice President, Research & Investments at Royalty Pharma (RPRX), received 18,197 Class A ordinary shares on 2026-05-06 as the settlement of Equity Performance Awards. The shares were granted at $0.00 per share (total $0), i.e., issued as compensation rather than purchased.

Key Details

• Transaction date: 2026-05-06; Filing date: 2026-05-08 (timely, within the Form 4 two-business-day window).
• Transaction type/code: Award/Grant (A). Footnote F1: acquisition was exempt under Rule 16b-3 in connection with settlement of Equity Performance Awards.
• Price: $0.00 per share; Shares acquired: 18,197; Total cash exchanged: $0.
• Shares owned after transaction: not specified in the disclosed line items. Remarks note additional indirect holdings: exchangeable limited partnership interests convertible into 2,474,120 Class A ordinary shares and Class E ordinary shares exchangeable into 1,356,528 Class A shares (Class E shares are subject to vesting conditions).

Context

• This was an equity compensation settlement, not a market purchase or sale. Awards like this reflect compensation/long-term incentives and do not by themselves indicate an immediate bullish or bearish trading signal.
• The filing discloses substantial additional indirect exposure through family-controlled partnership and exchangeable interests; some of those exchangeable shares are subject to vesting.