Heidbreder Christian 4

What Happened
Christian Heidbreder, Chief Scientific Officer of Indivior Pharmaceuticals (INDV), sold 18,586 shares in an open-market transaction on June 11, 2026, at $38.06 per share, for total proceeds of $707,383. This was a sale (not a purchase), which is often routine insider selling.

Key Details

• Transaction date and price: 2026-06-11 — 18,586 shares sold at $38.06/share.
• Total value: $707,383.
• Shares owned after transaction: Not disclosed in the excerpt provided.
• Filing date: Form 4 filed 2026-06-12 (one day after the trade), which is within the typical two-business-day SEC reporting window.
• Footnote: Sale was effected pursuant to a Rule 10b5-1 trading plan adopted by Heidbreder on March 13, 2026 (prearranged plan).

Context
A 10b5-1 plan indicates the sale was executed under a pre-established trading arrangement, which can reduce the likelihood the transaction was based on non-public information. Sales are common and not necessarily a negative signal; purchases are generally more informative about an insider’s bullishness.