Jula Inrig - 31 Jan 2025 Form 4 Insider Report for Travere Therapeutics, Inc. (TVTX)

Role
CHIEF MEDICAL OFFICER
Signature
/s/ Elizabeth E. Reed, Attorney-in-Fact
Issuer symbol
TVTX
Transactions as of
31 Jan 2025
Net transactions value
-$106,082
Form type
4
Filing time
04 Feb 2025, 20:30:18 UTC
Previous filing
06 Jan 2025
Next filing
12 Feb 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TVTX Common Stock Award $0 +30,000 +50% $0.000000 89,443 31 Jan 2025 Direct F1
transaction TVTX Common Stock Sale $84,645 -4,207 -4.7% $20.12 85,236 03 Feb 2025 Direct F2
transaction TVTX Common Stock Sale $21,437 -1,066 -1.3% $20.11 84,170 04 Feb 2025 Direct F3

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 +100,000 $0.000000 100,000 31 Jan 2025 Common Stock 100,000 $20.46 Direct F4
* 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 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 This sale was made pursuant to a written plan adopted on March 15, 2024, 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.
F4 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.