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

Signature
/s/ Christopher Galletta, attorney-in-fact
Stock symbol
TRVI
Transactions as of
Oct 11, 2023
Transactions value $
-$414
Form type
4
Date filed
10/12/2023, 04:00 PM
Previous filing
Sep 13, 2023
Next filing
Feb 16, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TRVI Common Stock Options Exercise $1.17K +2.29K +6.66% $0.51* 36.7K Oct 11, 2023 Direct F1
transaction TRVI Common Stock Sale -$1.59K -785 -2.14% $2.02 35.9K Oct 11, 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 -2.29K -3.45% $0.00 64.2K Oct 11, 2023 Common Stock 2.29K $0.51 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 October 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.