Laura Clague - Aug 13, 2021 Form 4 Insider Report for Travere Therapeutics, Inc. (TVTX)

Signature
/s/ Elizabeth E. Reed, Attorney-in-Fact
Stock symbol
TVTX
Transactions as of
Aug 13, 2021
Transactions value $
-$24,085
Form type
4
Date filed
8/17/2021, 07:34 PM
Previous filing
May 27, 2021
Next filing
Jan 12, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TVTX Common Stock Award $0 +4.5K +15.94% $0.00 32.7K Aug 13, 2021 Direct F1
transaction TVTX Common Stock Sale -$24.1K -1.41K -4.3% $17.12 31.3K Aug 17, 2021 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 31, 2020, the reporting person was granted a performance restricted stock unit (PRSU) grant covering 9,000 shares of the Issuer's common stock, which vest upon the later of (i) 12 months from the date of grant and (ii) the achievement of specified clinical and regulatory development milestones. On August 13, 2021, a portion of the PRSUs vested upon the Issuer's confirmation of the satisfaction of a performance criterion related to the interim data read-out from the PROTECT study.
F2 Represents the number of shares required to be sold by the Reporting Person to cover the tax withholding obligation in connection with the settlement of vested performance restricted stock units. This sale is mandated by the Issuer's election under its equity incentive plans to require the Reporting Person to fund this tax withholding obligation by completing a "sell to cover" transaction with a brokerage firm designated by the Issuer. This sale does not represent a discretionary trade by the Reporting Person.