REED ELIZABETH E 4

What Happened
Elizabeth E. Reed, Chief Legal Officer and General Counsel of Travere Therapeutics (TVTX), exercised stock options and sold underlying shares on March 16, 2026. She exercised 10,000 shares at $19.08 per share (cost $190,800) and sold 10,000 shares in an open‑market transaction at a weighted average price of $28.0861 for total proceeds of $280,861. The transactions resulted in roughly $90,061 in gross proceeds above the exercise cost (pre‑tax and fees). The sale was executed under a pre‑arranged 10b5‑1 plan (routine sale).

Key Details

• Transaction date: 2026-03-16. Form filed: 2026-03-18 (timely).
• Exercise: 10,000 shares @ $19.08 (acquired) — $190,800 total.
• Sale: 10,000 shares @ weighted avg $28.0861 — $280,861 total; reported price range $27.66–$28.40.
• Additional derivative line: 10,000 shares reported disposed at $0.00 (reported as an exercise/disposition entry).
• Footnotes: Sale executed pursuant to a written 10b5‑1 plan adopted June 16, 2025; the option grant (1/4/2017) is fully vested and exercisable.
• Shares owned after the transaction: Not specified in this filing.

Context

• This pattern (exercise followed by immediate sale) is commonly a cashless or staged settlement of an option exercise where newly acquired shares are sold; the filing also shows a $0.00 derivative disposition line (often used to report shares withheld/surrendered to cover exercise costs or taxes), but the filing does not detail the exact settlement mechanics.
• Sales by insiders are common and, by themselves, do not necessarily indicate their view of the company; purchases tend to be more informative for bullish signals.