[Form 4] Collegium Pharmaceutical, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Thomas B. Smith, EVP and Chief Medical Officer of Collegium Pharmaceutical, Inc. (COLL) reported the sale of 17,478 shares of the company's common stock on 08/29/2025 at a weighted-average price of $38.4241 per share. After the reported disposition, the reporting person beneficially owned 70,264 shares, held directly. The Form 4 was filed as a single-person report and signed by an attorney-in-fact, Colleen Tupper, on 09/03/2025. The footnote states the reported price is a weighted average for multiple transactions that ranged from $38.37 to $38.48 and that the filer can provide per-price breakdowns on request.

Positive

• None.

Negative

• Disposition of 17,478 shares on 08/29/2025 reduced direct beneficial ownership to 70,264 shares
• Sale executed in multiple trades at prices ranging from $38.37 to $38.48 (weighted-average $38.4241), indicating the filing aggregates several transactions

Insights

Securities Analyst

TL;DR: Insider sale of 17,478 shares at ~$38.42 reduces direct holdings to 70,264; appears routine, with weighted-average pricing across multiple trades.

The Form 4 documents a clear, single-day disposition by an executive, with the filing made by one reporting person and executed by an attorney-in-fact. The weighted-average price disclosure and the footnote indicate multiple execution prices between $38.37 and $38.48. From a trading-flow perspective this is a straightforward sale; absent other signals this filing alone is neutral for valuation or corporate outlook.

Corporate Governance Expert

TL;DR: Executive sale disclosed properly under Section 16; recordkeeping and footnote provide acceptable transparency about price range.

The form identifies Thomas B. Smith as an officer (EVP and Chief Medical Officer) and complies with Section 16 reporting: it lists the transaction date, quantity sold, weighted-average price, and post-transaction beneficial ownership. The signature by an attorney-in-fact is noted and dated. There is no indication in this filing of plan-based sales (no Rule 10b5-1 box checked), so governance observers may request additional detail if context is needed, but the disclosure itself meets filing requirements.

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
Estimated average burden
hours per response:			0.5

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)
08/29/2025

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	08/29/2025		S		17,478	D	$38.4241(1)	70,264	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. The price reported in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $38.37 to $38.48, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

	/s/ Colleen Tupper as Attorney-In-Fact For Thomas B. Smith, MD	09/03/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Thomas B. Smith (COLL) report on Form 4?

He reported the sale of 17,478 shares of Collegium Pharmaceutical common stock on 08/29/2025, at a weighted-average price of $38.4241 per share.

How many shares does the reporting person own after the transaction?

Following the reported disposition, the reporting person beneficially owned 70,264 shares, held directly.

Was the sale executed at a single price?

No. The filing notes the price is a weighted average for multiple transactions with execution prices ranging from $38.37 to $38.48.

Who filed and signed the Form 4 for this transaction?

The Form 4 was filed for one reporting person and signed by Colleen Tupper as Attorney-In-Fact for Thomas B. Smith on 09/03/2025.

Does the filing indicate the sale was under a 10b5-1 plan?

The filing does not indicate that the transaction was made pursuant to a 10b5-1 trading plan (no such box is checked in the document).