Brittani Cushman - 19 Nov 2025 Form 4 Insider Report for Turning Point Brands, Inc. (TPB)

Role: Sr VP, General Counsel
Signature: /s/ Brittani Cushman
Issuer symbol: TPB
Transactions as of: 19 Nov 2025
Net transactions value: -$1,550,315
Form type: 4
Filing time: 21 Nov 2025, 18:31:32 UTC
Previous filing: 12 Jun 2025
Next filing: 06 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Cushman Brittani	Sr VP, General Counsel	5201 INTERCHANGE WAY, LOUISVILLE	/s/ Brittani Cushman	21 Nov 2025	0001831600

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TPB	Common Stock	Options Exercise	$44,550	+3,000	+8.6%	$14.85	37,687	19 Nov 2025	Direct	F10
transaction	TPB	Common Stock	Sale	$304,980	-3,000	-8%	$101.66	34,687	19 Nov 2025	Direct	F11
transaction	TPB	Common Stock	Options Exercise	$84,840	+4,000	+12%	$21.21	38,687	19 Nov 2025	Direct	F12
transaction	TPB	Common Stock	Sale	$406,640	-4,000	-10%	$101.66	34,687	19 Nov 2025	Direct	F13
transaction	TPB	Common Stock	Options Exercise	$50,082	+3,250	+9.4%	$15.41	37,937	19 Nov 2025	Direct	F14
transaction	TPB	Common Stock	Sale	$330,395	-3,250	-8.6%	$101.66	34,687	19 Nov 2025	Direct	F15
transaction	TPB	Common Stock	Options Exercise	$32,500	+2,500	+7.2%	$13.00	37,187	19 Nov 2025	Direct	F16
transaction	TPB	Common Stock	Sale	$254,150	-2,500	-6.7%	$101.66	34,687	19 Nov 2025	Direct	F17
transaction	TPB	Common Stock	Options Exercise	$32,500	+2,500	+7.2%	$13.00	37,187	19 Nov 2025	Direct	F16
transaction	TPB	Common Stock	Sale	$254,150	-2,500	-6.7%	$101.66	34,687	19 Nov 2025	Direct	F17
holding	TPB	Common Stock						407	19 Nov 2025	By Spouse	F1

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	TPB	Options	Options Exercise	$44,550	-3,000	-50%	$14.85	3,000	19 Nov 2025	Common Stock	6,000	$14.85	Direct	F2, F4
transaction	TPB	Options	Options Exercise	$84,840	-4,000	-89%	$21.21	500	19 Nov 2025	Common Stock	4,500	$21.21	Direct	F2, F6
transaction	TPB	Options	Options Exercise	$50,082	-3,250	-100%	$15.41	0	19 Nov 2025	Common Stock	3,250	$15.41	Direct	F2, F7
transaction	TPB	Options	Options Exercise	$32,500	-2,500	-100%	$13.00	0	19 Nov 2025	Common Stock	10,000	$13.00	Direct	F2, F7
transaction	TPB	Options	Options Exercise	$32,500	-2,500	-100%	$13.00	0	19 Nov 2025	Common Stock	10,000	$13.00	Direct	F2, F7
holding	TPB	Options						8,000	19 Nov 2025	Common Stock	8,000	$30.46	Direct	F8, F9
holding	TPB	Options						7,000	19 Nov 2025	Common Stock	7,000	$51.75	Direct	F2, F3
holding	TPB	Options						4,800	19 Nov 2025	Common Stock	4,800	$47.58	Direct	F2, F5

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

Explanation of Responses:

Id	Content
F1	The reporting person disclaims beneficial ownership of these securities, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose.
F2	Granted pursuant to the issuer's 2015 Equity Incentive Plan
F3	The options vest and become exercisable as to 34% of the underlying shares on January 1, 2022, 33% of the underlying shares on January 1, 2023 and 33% of the underlying shares on January 1, 2024.
F4	The options vest and become exercisable as to 34% of the underlying shares on January 1, 2021, 33% of the underlying shares on January 1, 2022 and 33% of the underlying shares on January 1, 2023.
F5	The options vest and become exercisable as to 34% of the underlying shares on January 1, 2020, 33% of the underlying shares on January 1, 2021 and 33% of the underlying shares on January 1, 2022.
F6	The options vest and become exercisable as to 34% of the underlying shares on January 1, 2019, 33% of the underlying shares on January 1, 2020 and 33% of the underlying shares on January 1, 2021.
F7	The options vested and became exercisable as to 34% of the underlying shares on January 1, 2018, 33% of the underlying shares on January 1, 2019 and 33% of the underlying shares on January 1, 2020.
F8	The options vest and become exercisable as to 34% of the underlying shares on January 1, 2023, 33% of the underlying shares on January 1, 2024 and 33% of the underlying shares on January 1, 2025.
F9	Granted pursuant to the issuer's 2021 Equity Incentive Plan.
F10	The reported transaction involved the reporting person's exercise of 3,000 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan. The total reported in Column 5 includes 9,434 restricted stock units and 32,753 shares of common stock.
F11	The reported transaction involved the reporting person's disposition of the exercised 3,000 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan.
F12	The reported transaction involved the reporting person's exercise of 4,000 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan. The total reported in Column 5 includes 9,434 restricted stock units and 32,753 shares of common stock.
F13	The reported transaction involved the reporting person's disposition of the exercised 4,000 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan.
F14	The reported transaction involved the reporting person's exercise of 3,250 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan. The total reported in Column 5 includes 9,434 restricted stock units and 32,753 shares of common stock.
F15	The reported transaction involved the reporting person's disposition of the exercised 3,250 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan.
F16	The reported transaction involved the reporting person's exercise of 2,500 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan. The total reported in Column 5 includes 9,434 restricted stock units and 32,753 shares of common stock.
F17	The reported transaction involved the reporting person's disposition of the exercised 2,500 options granted under Turning Point Brands, Inc.'s 2015 Equity Incentive Plan.