Lisa Delfini - 11 Aug 2023 Form 4 Insider Report for Trevi Therapeutics, Inc. (TRVI)

Signature
/s/ Christopher Galletta, attorney-in-fact
Issuer symbol
TRVI
Transactions as of
11 Aug 2023
Net transactions value
-$438
Form type
4
Filing time
14 Aug 2023, 16:00:13 UTC
Previous filing
12 Jul 2023
Next filing
13 Sep 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TRVI Common Stock Options Exercise $1,171 +2,292 +7.3% $0.5110* 33,496 11 Aug 2023 Direct F1
transaction TRVI Common Stock Sale $1,610 -682 -2% $2.36 32,814 11 Aug 2023 Direct F1, 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 TRVI Stock Option (right to buy) Options Exercise $0 -2,292 -3.2% $0.000000 68,751 11 Aug 2023 Common Stock 2,292 $0.5110 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 This exercise of stock options and subsequent sale were effected pursuant to a Rule 10b5-1 trading plan that was adopted on October 13, 2022.
F2 This sale represents the sale of shares necessary to meet tax withholding obligations as a result of the exercise of stock options on August 11, 2023.
F3 This option was granted on February 11, 2022. The 110,000 shares of common stock underlying the option vested as to 25% of the shares on February 11, 2023 and vest as to the remaining 75% of the shares in equal monthly installments thereafter through February 11, 2026.