[Form 4] COLLEGIUM PHARMACEUTICAL, INC Insider Trading Activity

Rhea-AI Filing Summary

Collegium Pharmaceutical (COLL) reported an insider transaction by its EVP & Chief Financial Officer. On 11/06/2025, the officer sold 25,142 shares of common stock at a weighted average price of $40.3801 and a separate tranche of 4,858 shares at a weighted average price of $41.2756, totaling 30,000 shares. Following these sales, the officer beneficially owned 126,667 shares, held directly.

The sales were made pursuant to a Rule 10b5-1 trading plan adopted on May 30, 2025, with prices executed across ranges of $40.00–$40.98 and $41.00–$41.75, as disclosed.

Insights

Corporate governance analyst

Routine 10b5-1 insider sale; administrative, neutral signal.

The EVP & CFO executed two sales on 11/06/2025 totaling 30,000 shares under a pre-established Rule 10b5-1 plan. Weighted average prices were disclosed for each tranche, reflecting multiple executions within stated price ranges.

Form 4 filings like this are common and primarily informational. The officer directly holds 126,667 shares after the transactions. Actual market impact depends on overall trading volume and holder decisions.

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).

X

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^*

Tupper Colleen

(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 & Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/06/2025

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	11/06/2025		S(1)		25,142	D	$40.3801(2)	131,525	D
Common Stock	11/06/2025		S(1)		4,858	D	$41.2756(3)	126,667	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 sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 30, 2025.

2. The price reported in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $40.00 to $40.98, 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 ranges set forth in footnotes (2) and (3) to this Form 4.

3. The price reported in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $41.00 to $41.75, inclusive.

	/s/ Colleen Tupper	11/07/2025
	** 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 insider transaction did COLL disclose?

The EVP & CFO sold 25,142 shares at a weighted average of $40.3801 and 4,858 shares at $41.2756 on 11/06/2025.

How many COLL shares does the officer own after the sale?

Beneficial ownership is 126,667 shares, held directly, after the reported transactions.

Was the COLL insider sale under a Rule 10b5-1 plan?

Yes. The sales were effected pursuant to a Rule 10b5-1 plan adopted on May 30, 2025.

What price ranges were the COLL shares sold within?

Trades were executed within $40.00–$40.98 and $41.00–$41.75, disclosed as weighted average prices.

What is the reporting person’s role at COLL?

Officer: EVP & Chief Financial Officer.

Is this filing made by one reporting person or a group?

The form was filed by one reporting person.