COLL director sells 34,853 shares after option exercises

Collegium Pharmaceutical (COLL) Form 4: Director John A. Fallon, MD exercised options and sold shares on 11/12/2025.

Rhea-AI Filing Summary

Collegium Pharmaceutical (COLL) Form 4: Director John A. Fallon, MD exercised options and sold shares on 11/12/2025. He exercised stock options for 15,000 shares at $16.49 and 19,853 shares at $9.33, then sold 34,853 shares at a weighted average price of $47.2136.

Following these transactions, he directly beneficially owned 64,634 shares. A footnote states the sale occurred in multiple trades between $46.805 and $47.51. The reported options were fully vested and exercisable, and the specific option positions exercised now show 0 remaining.

Insights

Equity compensation analyst

Routine option exercises followed by an open-market sale; neutral impact.

The director exercised vested stock options (15,000 at $16.49 and 19,853 at $9.33) and sold 34,853 shares at a weighted average of $47.2136 on 11/12/2025. These are standard equity compensation events.

The filing notes a trade range of $46.805–$47.51 and indicates the exercised option grants are fully vested. After the transactions, direct beneficial ownership stands at 64,634 shares. Cash‑flow treatment and motivations are not stated; the filing remains informational.

Insider Trade Summary

Exercise and Sale: 34,853 shares ($1.21M approx. pre-tax spread)

Exercise and Sale 5 txns

Insider Fallon John A.

Role Director

Sold 34,853 shs ($1.65M)

Approx. gross sale proceeds $1.65M

Approx. exercise cost $433K

Approx. pre-tax spread $1.21M

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Purchase)	15,000	$0.00	$0.00
Exercise	Stock Option (Right to Purchase)	19,853	$0.00	$0.00
Exercise	Common Stock	15,000	$16.49	$247K
Exercise	Common Stock	19,853	$9.33	$185K
Sale	Common Stock	34,853	$47.2136	$1.65M

Holdings After Transaction: Stock Option (Right to Purchase) — 0 contracts (Direct); Common Stock — 64,634 shares (Direct)

Footnotes (2)

1. F1. The price reported in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $46.805 to $47.51, 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.
2. F2. The option is fully vested and exercisable.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did COLL report on Form 4?

A director exercised options for 15,000 shares at $16.49 and 19,853 shares at $9.33, and sold 34,853 shares at a weighted average of $47.2136.

When did the COLL insider transactions occur?

All reported transactions took place on 11/12/2025.

How many COLL shares does the director hold after these trades?

Direct beneficial ownership is 64,634 shares after the reported transactions.

What was the price range for the COLL share sales?

Sales occurred in multiple trades between $46.805 and $47.51, per the weighted-average price footnote.

Were the exercised COLL options vested?

Yes. The filing states the options were fully vested and exercisable.

What were the expiration dates of the exercised options?

The options related to these exercises had expiration dates of 06/09/2026 and 05/24/2027.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/14/2025 - 04:10 PM Learn about SEC filing dates

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^*

Fallon John A.

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/12/2025

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	11/12/2025		M		15,000	A	$16.49	79,634	D
Common Stock	11/12/2025		M		19,853	A	$9.33	99,487	D
Common Stock	11/12/2025		S		34,853	D	$47.2136(1)	64,634	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
Stock Option (Right to Purchase)	$16.49	11/12/2025		M			15,000	(2)	06/09/2026	Common Stock	15,000	$0	0	D
Stock Option (Right to Purchase)	$9.33	11/12/2025		M			19,853	(2)	05/24/2027	Common Stock	19,853	$0	0	D

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 $46.805 to $47.51, 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.

2. The option is fully vested and exercisable.

	/s/ Colleen Tupper as Attorney-in-Fact for John A. Fallon, MD	11/14/2025
	** 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.