Dieter David 4

What Happened
Dieter David, EVP and General Counsel of Collegium Pharmaceutical (COLL), sold 6,224 shares on 2026-03-09 at $36.65 per share, generating proceeds of approximately $228,110. This was a sale (not a purchase), which is often routine insider liquidity rather than a clear bullish signal.

Key Details

• Transaction date: 2026-03-09
• Transaction type/code: Sale (S) — open market/private sale reported
• Price and amount: 6,224 shares at $36.65 per share; total ≈ $228,110
• Footnote: Transaction executed pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 5, 2025
• Shares owned after transaction: Not specified in the provided excerpt of the filing (check the full Form 4 for post-transaction holdings)
• Filing timeliness: Form 4 filed 2026-03-11 (filed within the standard 2-business-day window; not late)

Context
A 10b5-1 plan indicates the sale was pre-arranged under an authorized trading plan, which allows insiders to sell shares according to preset instructions and can reduce the implication that the sale reflects current insider views. Sales are common for liquidity or diversification and generally carry less interpretive weight than insider purchases. For full ownership details and any additional notes, review the complete Form 4 filing (Accession: 0002061438-26-000004).