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Travere Therapeutics, Inc.·4

Feb 3, 9:30 PM ET

Cline Christopher R. 4

Research Summary

AI-generated summary

Updated

Travere (TVTX) CFO Christopher Cline Sells 7,242 Shares

What Happened

  • Christopher R. Cline, Chief Financial Officer of Travere Therapeutics (TVTX), had two grant transactions on Jan 31, 2026 and a sale on Feb 3, 2026. He was granted 28,130 restricted stock units (RSUs) and 75,000 additional equity units (derivative award). On Feb 3 he sold 7,242 shares in an open-market transaction at $32.12 per share, generating proceeds of $232,613.
  • The 28,130 awards are RSUs (each converts to one share upon settlement). The 75,000 derivative award is subject to a vesting schedule. The sale appears to be a routine sell-to-cover to satisfy tax withholding related to the RSU settlement (see Key Details).

Key Details

  • Transaction dates and prices:
    • Jan 31, 2026: Grant — 28,130 RSUs @ $0.00 (F1).
    • Jan 31, 2026: Grant — 75,000 derivative units @ $0.00 (vesting applies) (F3).
    • Feb 3, 2026: Sale — 7,242 shares @ $32.12 = $232,613 (F2).
  • Shares owned after the transaction: Not disclosed in the provided filing excerpt.
  • Notable footnotes from the filing:
    • F1: Each RSU represents a contingent right to receive one share of common stock upon settlement.
    • F2: The 7,242-share sale was to cover required tax withholding at RSU settlement (a broker-directed "sell to cover"), not a discretionary trade by the reporting person.
    • F3: The 75,000 derivative award follows a standard vesting schedule (one-fourth vests after one year, remainder vests in 36 equal monthly installments).
  • Filing timeliness: Report filed Feb 3, 2026 for transactions with a period ending Jan 31, 2026 — appears to be timely.

Context

  • The sale was a sell-to-cover for tax withholding tied to RSU settlement, which is common and does not necessarily signal a change in the insider’s view of the company. The grants increase potential future share exposure but are subject to vesting; they do not immediately increase tradable holdings until settled/vested.
  • For retail investors, purchases are typically more informative than routine grant settlements or mandated sell-to-cover transactions; this filing mainly documents compensation-related awards and the associated tax withholding sale.