COLL files Form 144 to sell 5,405 shares via Fidelity on NASDAQ

Rhea-AI Filing Summary

Collegium Pharmaceutical, Inc. (COLL) filed a Form 144 reporting a proposed sale of 5,405 shares of common stock to be executed through Fidelity Brokerage Services LLC on 08/15/2025 on NASDAQ, with an aggregate market value of $201,018.82 and total shares outstanding listed as 31,502,127. The filing indicates the shares are being sold for cash.

The table shows the securities were associated with an option grant dated 09/10/2015; the acquisition and sale dates are both listed as 08/15/2025. No other sales in the past three months are reported, and the filer certifies they are unaware of undisclosed material adverse information about the issuer.

Positive

• Full procedural disclosure under Rule 144 including broker, share count, aggregate value, and exchange
• No sales in past three months reported for the account, indicating this is an isolated transaction

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine insider notice for a modest share sale worth ~$201k; appears procedural and not materially dilutive.

The Form 144 documents a proposed sale of 5,405 common shares valued at $201,018.82, executed via a retail broker on NASDAQ. Relative to the 31.5 million shares outstanding, the sale represents approximately 0.017% of outstanding stock, which is immaterial from a dilution perspective. The linkage to an option granted on 09/10/2015 suggests the shares may originate from previously granted equity compensation, but the filing does not specify the seller's role or title. No other recent sales are reported, and the filer affirms no undisclosed material adverse information.

Corporate Governance Expert

TL;DR: Disclosure is consistent with Rule 144 requirements; filing raises no governance red flags on its face.

The notice fulfills Rule 144 procedural requirements by identifying the broker, number of shares, aggregate value, and intended sale date. The representation about lack of undisclosed material adverse information is included as required. The document does not identify the selling person's relationship to the issuer or provide additional context about planned trading arrangements, so governance implications are limited to standard transparency compliance.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	5405	201018.82	31502127	08/15/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/15/2025	Option Granted - 09/10/2015	Issuer			5405	08/15/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed by Collegium Pharmaceutical (COLL) report?

The filing reports a proposed sale of 5,405 common shares via Fidelity on 08/15/2025 with an aggregate market value of $201,018.82 on NASDAQ.

How large is the proposed sale relative to COLL's outstanding shares?

The filing lists 31,502,127 shares outstanding; the proposed sale of 5,405 shares is roughly 0.017% of outstanding shares.

What is the stated origin of the shares in the Form 144?

The securities section notes an option granted on 09/10/2015 and lists the acquisition and sale date as 08/15/2025 with payment in cash.

Did the filer report other securities sales in the past three months?

The filing states "Nothing to Report" for securities sold during the past three months.

Does the filing assert any undisclosed material information?

Yes, the signer represents they do not know any material adverse information about the issuer that has not been publicly disclosed.