Peter Heerma - Jan 31, 2022 Form 4 Insider Report for Travere Therapeutics, Inc. (TVTX)

Role: Chief Commercial Officer
Signature: /s/ Elizabeth E. Reed, Attorney-in-Fact
Stock symbol: TVTX
Transactions as of: Jan 31, 2022
Transactions value $: -$30,825
Form type: 4
Date filed: 2/2/2022, 03:18 PM
Previous filing: Jan 26, 2022
Next filing: Oct 6, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TVTX	Common Stock	Award	$0	+9.84K	+16.8%	$0.00	68.4K	Jan 31, 2022	Direct	F1
transaction	TVTX	Common Stock	Sale	-$30.8K	-1.13K	-1.64%	$27.40	67.3K	Jan 31, 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TVTX	Employee stock option (right to buy)	Award	$0	+39.4K		$0.00	39.4K	Jan 31, 2022	Common Stock	39.4K	$27.50	Direct	F3
transaction	TVTX	Performance-based restricted stock units	Award	$0	+9.84K		$0.00	9.84K	Jan 31, 2022	Common Stock	9.84K		Direct	F4, F5
transaction	TVTX	Performance-based restricted stock units	Award	$0	+8K		$0.00	8K	Jan 31, 2022	Common Stock	8K		Direct	F4, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Acquisition of restricted stock units pursuant to the Issuer's Equity Incentive Plan that are scheduled to vest over four years.
F2	The sales reported in this Form 4 were made pursuant to a written plan meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934, as amended, and includes the sale of shares to cover the tax obligation that occurred upon the vesting of restricted stock units.
F3	One-fourth of the shares subject to the stock option vest and become exercisable on the first anniversary of the date of grant, and the remaining shares vest in 36 equal monthly installments thereafter.
F4	Each performance-based restricted stock unit represents a contingent right to receive one share of the Common Stock of the Issuer.
F5	This grant will vest upon the achievement of specified clinical/regulatory and commercial milestones, provided, however, if either vesting event occurs before the date that is 12 months after the date of grant, then the portion of the award that would have vested upon such event will instead vest on the date that is 12 months after the date of grant, and provided further that the Performance RSU will expire on January 31, 2027 to the extent the specified performance based milestones are not achieved by such date.
F6	This grant will vest upon the achievement of specified clinical/regulatory milestones, provided, however, if the vesting events occur before the date that is 24 months after the date of grant, then the award will instead vest on the date that is 24 months after the date of grant, and provided further that the Performance RSU will expire on January 31, 2026 if the specified performance based milestones are not achieved by such date.