Peter Heerma - Jan 31, 2023 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, 2023
Transactions value $: -$38,697
Form type: 4
Date filed: 2/2/2023, 06:04 PM
Previous filing: Jan 26, 2023
Next filing: Oct 4, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TVTX	Common Stock	Award	$0	+20.3K	+31.84%	$0.00	83.8K	Jan 31, 2023	Direct	F1
transaction	TVTX	Common Stock	Sale	-$38.7K	-1.78K	-2.12%	$21.75	82.1K	Feb 1, 2023	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	+54.5K		$0.00	54.5K	Jan 31, 2023	Common Stock	54.5K	$22.40	Direct	F3
transaction	TVTX	Performance-based restricted stock units	Award	$0	+6.75K		$0.00	6.75K	Jan 31, 2023	Common Stock	6.75K		Direct	F1, F4

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

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of the Common Stock of the Issuer.
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 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.
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	This grant will vest upon the achievement of a specified clinical/regulatory milestone, provided, however, if the vesting event occurs before the date that is 12 months after the date of grant, then the award 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 if the specified performance based milestone is not achieved by such date.