Calvin Sandra 4

What Happened
Sandra Calvin, SVP and Chief Accounting Officer of Travere Therapeutics (TVTX), executed multiple stock option exercises and sold shares on April 14, 2026. The filing shows exercises that resulted in acquisition of 15,250 shares (2,500 @ $22.40; 6,250 @ $8.93; 6,500 @ $20.46) for total exercise payments of $244,803. On the same date she sold 21,977 shares in an open-market transaction at $41.07 per share for proceeds of $902,595. The filing also records equal numbers of exercised shares as “disposed” at $0.00 (see Key Details), consistent with settlement/withholding activity related to the option exercises.

Key Details

• Transaction date: April 14, 2026; Form 4 filed April 16, 2026 (timely filing).
• Sales: 21,977 shares sold @ $41.07 = $902,595 (Footnote F1: sale pursuant to a 10b5-1 plan adopted June 10, 2025).
• Option exercises (acquired): 2,500 shares @ $22.40 ($56,000); 6,250 @ $8.93 ($55,813); 6,500 @ $20.46 ($132,990). Total paid ≈ $244,803.
• Matching disposals recorded as derivative dispositions at $0.00 for 2,500; 6,250; and 6,500 shares (these entries relate to the option settlement/tax withholding).
• Shares owned after transaction: Not reported in the provided filing details.
• Vesting notes: Footnotes F2–F4 describe standard 4‑quarter cliff then 36‑month monthly vesting schedules for the options (grant dates referenced Jan 31, 2023/2024/2025).
• No late filing noted.

Context
The filing shows Calder exercised options and sold stock on the same date. The zero‑price “disposed” entries commonly indicate shares were withheld or delivered to cover exercise costs or tax withholding (a cashless or net-settlement effect), while the 10b5-1 plan indicates the open-market sale was prearranged. These actions are routine insider liquidity and, by themselves, do not indicate management’s view on the company’s outlook.