Calvin Sandra 4
4 · Travere Therapeutics, Inc. · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
Travere (TVTX) SVP Calvin Sandra Sells Shares, Receives RSU Awards
What Happened
Calvin Sandra, SVP and Chief Accounting Officer of Travere Therapeutics (TVTX), reported two grant events and one sale. On 2026-01-31 Sandra was granted a total of 35,340 restricted stock units (15,180 RSUs + 20,160 RSUs reported as a derivative award) at $0.00 (non‑cash awards). On 2026-02-03 Sandra disposed of 4,333 shares in an open-market/private sale at $32.12 per share, generating proceeds of $139,176. The filing notes the sale was a "sell-to-cover" to satisfy tax withholding obligations (not a discretionary sale).
Key Details
- Transactions reported: Grants (A) on 2026-01-31: 15,180 RSUs and 20,160 RSUs (acquired at $0.00); Sale (S) on 2026-02-03: 4,333 shares at $32.12 ($139,176).
- RSU total granted: 35,340 restricted stock units (each RSU = right to 1 share) (see F1).
- Sale type: Sell-to-cover for tax withholding as required by issuer’s equity plan (F2); therefore not a discretionary trade by the insider.
- Shares owned after transaction: Not disclosed in the Form 4 filing.
- Vesting/derivative note: Footnote F3 describes a standard option vesting schedule (1/4 after 1 year, then monthly over 36 months) — applicable if options are involved.
- Filing timeliness: No late filing indicated in the report.
Context
RSU grants are awards that convert to shares upon vesting and do not represent an outlay of cash. Sell-to-cover transactions (selling a portion of vested awards to cover taxes) are routine and are mandated by the company’s plan here, so they generally do not signal management’s discretionary view on the stock. The derivative RSU award will convert to common shares according to the award terms and vesting schedule referenced.
Insider Transaction Report
- Award
Common Stock
[F1]2026-01-31+15,180→ 53,413 total - Sale
Common Stock
[F2]2026-02-03$32.12/sh−4,333$139,176→ 49,080 total - Award
Employee stock option (right to buy)
[F3]2026-01-31+20,160→ 20,160 totalExercise: $33.09Exp: 2036-01-31→ Common Stock (20,160 underlying)
Footnotes (3)
- [F1]Each restricted stock unit represents a contingent right to receive one share of the Common Stock of the Issuer.
- [F2]Represents the number of shares required to be sold by the Reporting Person to cover the tax withholding obligation in connection with the settlement of vested restricted stock units. This sale is mandated by the Issuer's election under its equity incentive plans to require the Reporting Person to fund this tax withholding obligation by completing a "sell to cover" transaction with a brokerage firm designated by the Issuer. This sale does not represent a discretionary trade by the Reporting Person.
- [F3]One-fourth of the shares subject to the stock option vest and become exercisable on the first anniversary of the date of grant, and the remaining shares vest in 36 equal monthly installments thereafter.