Cline Christopher R. 4

What Happened

Christopher R. Cline, Chief Financial Officer of Travere Therapeutics (TVTX), had 4,250 performance restricted stock units (PSUs) vest and convert to shares on May 4, 2026. Following the vesting/conversion, Cline sold a total of 2,491 shares in open-market transactions on May 5–6, 2026, receiving about $115,369. The filing also records the original PSU grant covering 8,500 target shares (50% of which vested as described).

Key Details

• Transactions:
  • 2026-05-04: 4,250 PSUs vested/converted to shares (reported as exercise/conversion of derivative) (Acquired at $0.00).
  • 2026-05-04: Grant record shows 8,500 PSUs originally awarded (derivative grant).
  • 2026-05-05: Sold 2,181 shares at $46.65 — proceeds $101,744.
  • 2026-05-06: Sold 310 shares at $43.95 — proceeds $13,625.
  • Total shares sold: 2,491 for ~$115,369.
• Shares owned after transaction: Not specified in the filing.
• Footnotes / mechanics:
  • F1: The 8,500 PSUs were granted Jan 31, 2024; 50% vested on May 4, 2026 after a FILSPARI net‑revenue performance metric was met; an additional 25% may vest on Jan 31, 2027 subject to continued service.
  • F2/F3: Portions of the sales were to cover tax withholding associated with the PSU settlement ("sell-to-cover") and at least one sale was executed under a pre-established Rule 10b5‑1 trading plan. The filing indicates these sales were not discretionary trades meant to signal a view on the stock.
• Filing date: Report filed May 6, 2026 — appears timely relative to the May 4–6 transactions.

Context

• PSUs (performance restricted stock units) are contingent awards that convert to shares only if performance goals are met; 4,250 PSUs vested here due to achievement of a revenue milestone and were converted into shares.
• Some or all of the converted shares were sold to satisfy tax withholding requirements and under a pre-set 10b5‑1 plan; such administrative sell‑to‑cover transactions are routine and do not necessarily indicate the insider's market view.