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Travere Therapeutics, Inc.·4

May 6, 8:00 PM ET

Inrig Jula 4

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Travere (TVTX) CMO Inrig Jula Sells Shares After Option Exercise

What Happened
Inrig Jula, Chief Medical Officer of Travere Therapeutics (TVTX), exercised stock options and sold company shares between May 4–6, 2026. Key moves: exercised 20,000 option shares at $22.40 (cost $448,000) and sold those 20,000 shares on May 4 at $45.00 for $900,000. Additional sales consisted of 2,174 shares on May 5 at $46.65 ($101,417) and 311 shares on May 6 at $43.95 ($13,668). Total open-market sale proceeds reported: approximately $1,015,085 across 22,485 shares. The filing also reports settlement/conversion of 4,250 performance shares (PSUs) that vested and related sell-to-cover activity, plus a grant/award of 8,500 PSUs (original grant Jan 31, 2024).

Key Details

  • Transaction dates & prices:
    • 2026-05-04: Exercised 20,000 options @ $22.40 (acquired; $448,000 outlay) and sold 20,000 shares @ $45.00 (proceeds $900,000).
    • 2026-05-05: Sold 2,174 shares @ $46.65 (proceeds $101,417).
    • 2026-05-06: Sold 311 shares @ $43.95 (proceeds $13,668).
    • Report also shows conversion/settlement entries for 4,250 shares (PSUs) and a grant of 8,500 PSUs.
  • Total shares sold (open-market/private): 22,485; total reported sale proceeds ≈ $1,015,085.
  • Footnotes of note:
    • Sales on May 4 (and included activity) were made under a Rule 10b5-1 trading plan adopted May 28, 2025 (F1, F4).
    • 8,500 PSUs were originally granted Jan 31, 2024; 50% (4,250) vested May 4, 2026 upon meeting performance criteria (F2, F6).
    • Some shares were sold to cover tax withholding required on vested PSUs (sell-to-cover mandated by issuer) — not a discretionary trade (F3).
  • Shares owned after transaction: not specified in the provided filing details.
  • Filing date: May 6, 2026, reporting activity for May 4–6, 2026; filing appears timely (no late filing noted in the record).

Context
This was a combination of an option exercise and immediate/open-market sales — effectively a cashless exercise for the 20,000 option shares (exercise followed by sale). The PSU vesting and required sell-to-cover are administrative (tax-related) events; the May 4 sale activity was executed under a pre-established 10b5-1 plan. These mechanics are common for insiders to cover exercise costs and tax withholding and do not by themselves indicate the insider’s broader view of the company.