Travere (TVTX) CFO Christopher Cline Exercises Options, Sells Shares

What Happened

• Christopher R. Cline, Chief Financial Officer of Travere Therapeutics (TVTX), exercised stock options and sold shares on September 15, 2026. He exercised 20,000 options at $17.44 (cost $348,800) and an additional 20,000 option-related shares were reported as a derivative conversion/disposition (reported at $0.00). He sold a total of 50,508 shares in multiple open-market transactions that day for aggregate proceeds of approximately $3,148,544.

Key Details

• Transaction date: September 15, 2026; Form 4 filed September 17, 2026 (timely filing).
• Sales breakdown (reported blocks):
  • 27,473 shares @ $62.00 — $1,703,241 (F1/F2)
  • 20,735 shares @ $62.61 — $1,298,175 (F3)
  • 1,900 shares @ $63.69 — $121,004 (F4)
  • 400 shares @ $65.31 — $26,124 (F4)
• Exercise: 20,000 shares @ $17.44 (paid $348,800); another 20,000 reported as exercised/converted/disposed at $0.00 in the filing (derivative line).
• Net flow that day (based on reported items): acquired 20,000 shares by paid exercise and sold 50,508 shares — a net disposition of ~30,508 shares.
• Shares owned after transaction: not specified in the details provided here (not included in the supplied data).
• Footnotes of note:
  • F1: Some sales made under a written 10b5-1 trading plan adopted June 16, 2026; sales include shares underlying a stock option expiring May 17, 2027.
  • F2–F4: Weighted-average sale prices and price ranges provided for the reported sale blocks; full per-price detail available upon request.
  • F5: The stock option involved was fully vested and exercisable.
• No late filing flag in the supplied data; filing appears to have been made within the normal Form 4 window.

Context

• The filing shows option exercise(s) (derivative code M) and same-day open-market sales. This pattern is commonly a cashless exercise or planned disposition under a 10b5-1 plan, meaning the sales were prearranged and routine; such sales are informational but not necessarily a signal of management view. Purchases (bullish signals) tend to carry more weight than routine, preplanned sales.