Insider at Pharmaceutical, Inc. (COLL) reports new RSUs, PSU vesting and tax share withholding

Rhea-AI Filing Summary

Pharmaceutical, Inc.’s EVP and Chief Medical Officer Thomas B. Smith reported equity compensation changes on February 10, 2026. He received 14,268 restricted stock units with no cash paid and 22,774 performance share units that vested after performance goals were certified.

One-third of the new RSUs will vest on February 10, 2027, with the rest vesting in equal annual installments over the next two years, subject to continued service. To cover withholding taxes on the PSU and RSU vesting, 5,897 and 11,538 shares, respectively, were withheld at $46.75 per share, leaving him with 90,651 common shares owned directly.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Smith Thomas B

Role EVP and Chief Medical Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	14,268	$0.00	--
Grant/Award	Common Stock	22,774	$0.00	--
Tax Withholding	Common Stock	5,897	$46.75	$276K
Tax Withholding	Common Stock	11,538	$46.75	$539K

Holdings After Transaction: Common Stock — 85,312 shares (Direct)

Footnotes (1)

1. Reflects the grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's common stock. One-third (33%) of the RSUs shall vest on February 10, 2027, with the balance of the RSUs vesting in equal annual installments over the following two-year period, subject to the Reporting Person's continued service with the Issuer. The RSUs will be settled on each applicable vesting date in shares of the Issuer's common stock. Includes 376 and 404 shares acquired on July 18, 2025 and January 16, 2026, respectively, under the Issuer's employee stock purchase plan. Effective February 10, 2026, the Compensation Committee of the Board of Directors of the Issuer determined that performance-vesting criteria were met with regard to an aggregate of 22,774 performance share units ("PSUs") granted in the Issuer's three prior fiscal years. Shares withheld by the Issuer to satisfy applicable withholding taxes upon the vesting of PSUs. Shares withheld by the Issuer to satisfy applicable withholding taxes upon the vesting of RSUs.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Smith Thomas B

(Last) (First) (Middle)

C/O COLLEGIUM PHARMACEUTICAL, INC.

100 TECHNOLOGY CENTER DRIVE

(Street)

STOUGHTON MA 02072

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
COLLEGIUM PHARMACEUTICAL, INC [ COLL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and Chief Medical Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/10/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/10/2026		A		14,268(1)	A	$0	85,312(2)	D
Common Stock	02/10/2026		A		22,774(3)	A	$0	108,086	D
Common Stock	02/10/2026		F		5,897(4)	D	$46.75	102,189	D
Common Stock	02/10/2026		F		11,538(5)	D	$46.75	90,651	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Reflects the grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of the Issuer's common stock. One-third (33%) of the RSUs shall vest on February 10, 2027, with the balance of the RSUs vesting in equal annual installments over the following two-year period, subject to the Reporting Person's continued service with the Issuer. The RSUs will be settled on each applicable vesting date in shares of the Issuer's common stock.

2. Includes 376 and 404 shares acquired on July 18, 2025 and January 16, 2026, respectively, under the Issuer's employee stock purchase plan.

3. Effective February 10, 2026, the Compensation Committee of the Board of Directors of the Issuer determined that performance-vesting criteria were met with regard to an aggregate of 22,774 performance share units ("PSUs") granted in the Issuer's three prior fiscal years.

4. Shares withheld by the Issuer to satisfy applicable withholding taxes upon the vesting of PSUs.

5. Shares withheld by the Issuer to satisfy applicable withholding taxes upon the vesting of RSUs.

	/s/ Colleen Tupper as Attorney-In-Fact For Thomas B. Smith, MD	02/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transactions did COLL report for Thomas B. Smith on February 10, 2026?

The EVP and Chief Medical Officer reported acquiring 14,268 restricted stock units and 22,774 performance share units, while 5,897 and 11,538 shares were withheld to satisfy tax obligations, resulting in direct ownership of 90,651 common shares after the transactions.

How many COLL shares does Thomas B. Smith own after the reported Form 4 transactions?

After the February 10, 2026 transactions, Thomas B. Smith directly owns 90,651 shares of common stock. This reflects equity awards granted and shares withheld by the company to cover tax liabilities associated with vesting RSUs and PSUs on the same date.

What equity awards did COLL’s EVP and Chief Medical Officer receive in this Form 4?

He received 14,268 restricted stock units and had 22,774 performance share units vest when the compensation committee confirmed performance goals. Both awards relate to common stock and were recorded at a transaction price of $0 per share, reflecting non-cash compensation grants.

How do the new RSUs for COLL’s Thomas B. Smith vest over time?

One-third of the 14,268 restricted stock units vest on February 10, 2027, with the remaining two-thirds vesting in equal annual installments over the following two years. Vesting is conditioned on his continued service with Pharmaceutical, Inc. through each applicable vesting date.

Were any COLL shares sold on the open market in this Form 4 filing?

The filing shows dispositions coded as tax-withholding transactions, not open-market sales. Specifically, 5,897 shares related to PSU vesting and 11,538 shares related to RSU vesting were withheld by the issuer at $46.75 per share to satisfy withholding tax obligations.

What role did COLL’s compensation committee play in the 22,774 performance share units?

The compensation committee determined on February 10, 2026 that performance-vesting criteria were met for 22,774 performance share units granted over three prior fiscal years. That determination triggered vesting of those PSUs into common shares, which are reflected as an acquisition in the Form 4.