Urist Marshall 4

What Happened Urist Marshall, Executive Vice President, Research & Investments at Royalty Pharma (RPRX), sold 13,684 Class A ordinary shares on May 14, 2026. The sales were executed at a weighted-average price of $53.06 per share, yielding approximately $726,137 in gross proceeds. The filing reports the transactions as sales (code S) effected under a pre-established 10b5-1 trading plan.

Key Details

• Transaction date: 2026-05-14; Form 4 filed 2026-05-15 (timely).
• Price: weighted average $53.06; individual trade prices ranged $52.88–$53.25 (per footnote).
• Shares sold: 13,684; gross proceeds ≈ $726,137.
• Plan: Transactions effected pursuant to a 10b5-1 plan adopted by the reporting person on February 12, 2026 (Footnote F1).
• Footnote F2: reported price is a weighted average; holder can provide per-trade breakdown on request.
• Shares owned after transaction: direct post-transaction share count not specified in the Form 4. The filing notes the reporting person and family vehicles hold exchangeable/limited partnership interests equivalent to 2,474,120 Class A shares (RPI US Partners 2019, LP) and Class E RPH shares exchangeable into 1,356,528 Class A shares; Class E shares are subject to vesting.

Context This was a sale under a 10b5-1 plan (a prearranged trading program), which is commonly used to systematically sell or buy shares and does not by itself indicate current management sentiment. For retail investors, purchases typically carry more interpretive weight than routine pre-planned sales. The filing’s remark about large exchangeable interests indicates the reporting person has additional economic exposure convertible into Class A shares, though those instruments may have vesting or exchange conditions.