Cline Christopher R. 4

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.