Cline Christopher R. 4
4 · Travere Therapeutics, Inc. · Filed Apr 15, 2026
Research Summary
AI-generated summary of this filing
Travere (TVTX) CFO Christopher Cline Receives Award, Sells 8,327 Shares
What Happened Christopher R. Cline, Chief Financial Officer of Travere Therapeutics (TVTX), had 14,000 performance restricted stock units (PSUs) settle/vest on April 13, 2026 (acquisition reported at $0). Following vesting, he sold a total of 8,327 shares across April 13–15, 2026 for aggregate proceeds of about $348,975. The largest single sale was 7,239 shares at $41.93 each ($303,523).
Key Details
- Award/Acquisition: 14,000 PSUs vested/settled on 2026-04-13 (granted Jan 31, 2025) after FDA approval of FILSPARI (sparsentan) in FSGS. (Footnote F1)
- Sales (total 8,327 shares; total ≈ $348,975):
- 2026-04-13: 65 shares @ $28.85 = $1,875 (F2: sell-to-cover for tax withholding)
- 2026-04-14: 9 shares @ $41.07 = $370 (F3: pursuant to 10b5-1 plan; includes sell-to-cover)
- 2026-04-14: 7,239 shares @ $41.93 = $303,523 (F4/F5: includes sell-to-cover; 10b5-1 plan)
- 2026-04-15: 1,014 shares @ $42.61 = $43,207 (F5: pursuant to 10b5-1 plan)
- Several sales were mandated sell-to-cover transactions to satisfy tax withholding obligations under the company’s equity plan (non‑discretionary; F2, F4).
- Some sales were executed under a written Rule 10b5-1 trading plan adopted May 28, 2025 (F3, F5).
- Filing: Form 4 filed 2026-04-15 reporting transactions from 2026-04-13 to 2026-04-15 (within normal 2-business-day reporting window).
Context
- The acquisition was a grant/settlement of performance RSUs that vested on a corporate milestone (FDA approval); this is not a cash purchase and does not by itself signal a market purchase decision.
- Most of the share sales were routine sell-to-cover transactions and sales under a pre-arranged 10b5-1 plan, which are typically used to satisfy tax obligations or execute pre-planned dispositions rather than indicate discretionary insider selling.
Insider Transaction Report
Form 4
Cline Christopher R.
CHIEF FINANCIAL OFFICER
Transactions
- Award
Common Stock
[F1]2026-04-13+14,000→ 125,226 total - Sale
Common Stock
[F2]2026-04-13$28.85/sh−65$1,875→ 125,161 total - Sale
Common Stock
[F3]2026-04-14$41.07/sh−9$370→ 125,152 total - Sale
Common Stock
[F4]2026-04-14$41.93/sh−7,239$303,523→ 117,913 total - Sale
Common Stock
[F5]2026-04-15$42.61/sh−1,014$43,207→ 116,899 total
Footnotes (5)
- [F1]On January 31, 2025, the reporting person was granted performance restricted stock units (PSUs) which PSUs vested on April 13, 2026 upon the Issuer's confirmation that the U.S. Food and Drug Administration (FDA) had granted approval of FILSPARI (sparsentan) in FSGS.
- [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]This sale was made pursuant to a written plan adopted on May 28, 2025, meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934, as amended, and includes the sale of shares to cover the tax obligation that occurred upon the vesting of restricted stock units.
- [F4]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 performance 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.
- [F5]This sale was made pursuant to a written plan adopted on May 28, 2025, meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934, as amended, and includes the sale of shares to cover the tax obligation that occurred upon the vesting of performance restricted stock units.
Signature
/s/ Elizabeth E. Reed, Attorney-in-Fact|2026-04-15