Elizabeth E. Reed - Jan 31, 2022 Form 4 Insider Report for Travere Therapeutics, Inc. (TVTX)

Role
SVP, GC & Corporate Secretary
Signature
/s/ Elizabeth E. Reed
Stock symbol
TVTX
Transactions as of
Jan 31, 2022
Transactions value $
-$36,990
Form type
4
Date filed
2/2/2022, 03:20 PM
Previous filing
Jan 26, 2022
Next filing
May 12, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TVTX Common Stock Award $0 +9.84K +27.88% $0.00 45.1K Jan 31, 2022 Direct F1
transaction TVTX Common Stock Sale -$37K -1.35K -2.99% $27.40 43.8K 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 PRSU 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.