Dieter David 4

What Happened
Dieter David, EVP & General Counsel of Collegium Pharmaceutical, sold 13,976 shares on March 18, 2026. The weighted-average price was $34.92, with individual sale prices ranging from $34.74 to $35.39, producing total proceeds of approximately $488,099. The sales were reported as open-market/private sales (code S).

Key Details

• Transaction date: 2026-03-18 (reported on Form 4 filed 2026-03-20 — timely filing).
• Price: weighted average $34.92; individual prices ranged $34.74–$35.39 (footnote F2).
• Proceeds: ~$488,099 for 13,976 shares.
• Shares owned after transaction: Not disclosed in the provided filing.
• Footnotes: F1 — transaction effected under a Rule 10b5-1 trading plan adopted Dec 5, 2025; F2 — weighted-average price with range, and the filer will provide per-price breakdown on request.
• Transaction code: S (sale).

Context
Sales executed under a 10b5-1 plan are typically pre-arranged and can reflect scheduled, non-discretionary trading rather than a contemporaneous view of the company. For retail investors, purchases often carry clearer signals of insider conviction than routine sales; this filing is a recorded sale and should be interpreted as factual transaction activity without inferring motive.