Collegium (NASDAQ: COLL) EVP Dreyer sells 49,976 shares under 10b5-1 plan

Rhea-AI Filing Summary

COLLEGIUM PHARMACEUTICAL, INC executive Scott Dreyer, EVP & Chief Commercial Officer, reported open-market sales of the company’s common stock. On March 3, 2026, he sold 46,417 shares at a weighted average price of $40.3636 per share and 3,559 shares at a weighted average price of $40.9889 per share.

These sales, totaling 49,976 shares, were effected pursuant to a Rule 10b5-1 trading plan adopted by Dreyer on September 3, 2025. After the reported transactions, he held 71,770 shares of common stock directly.

Insider Trade Summary

Net Seller: 49,976 shares ($2,019,437)

Net Sell 2 txns

Insider Dreyer Scott

Role EVP & Chief Commercial Officer

Sold 49,976 shs ($2.02M)

Type	Security	Shares	Price	Value
Sale	Common Stock	46,417	$40.3636	$1.87M
Sale	Common Stock	3,559	$40.9889	$146K

Holdings After Transaction: Common Stock — 75,329 shares (Direct)

Footnotes (1)

1. The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 3, 2025. The price reported in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $39.835 to $40.82, 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. The price reported in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $40.84 to $41.35, inclusive.

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
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^*

Dreyer Scott

(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 Commercial Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/03/2026

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	03/03/2026		S(1)		46,417	D	$40.3636(2)	75,329	D
Common Stock	03/03/2026		S(1)		3,559	D	$40.9889(3)	71,770	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 transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 3, 2025.

2. The price reported in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $39.835 to $40.82, 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 $40.84 to $41.35, inclusive.

	/s/ Colleen Tupper as Attorney-In-Fact For Scott Dreyer	03/05/2026
	** 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).
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 executive Scott Dreyer report?

EVP & Chief Commercial Officer Scott Dreyer reported selling 49,976 shares of COLLEGIUM PHARMACEUTICAL common stock. The sales occurred on March 3, 2026 in open-market transactions at weighted average prices slightly above $40 per share under a pre-established Rule 10b5-1 plan.

At what prices did Scott Dreyer sell COLLEGIUM (COLL) shares?

Scott Dreyer sold COLLEGIUM common stock at weighted average prices of $40.3636 and $40.9889 per share. Footnotes state these were averages for multiple trades within price ranges between approximately $39.835 and $41.35 executed on March 3, 2026.

How many COLLEGIUM (COLL) shares does Scott Dreyer own after this Form 4?

After the reported transactions, Scott Dreyer directly owned 71,770 shares of COLLEGIUM common stock. This figure is disclosed as the total shares beneficially owned following the final sale on March 3, 2026 in the Form 4 non-derivative holdings table.

Were Scott Dreyer’s COLL stock sales under a Rule 10b5-1 plan?

Yes. The Form 4 states the reported transactions were effected under a Rule 10b5-1 trading plan. That plan was adopted by Scott Dreyer on September 3, 2025, allowing pre-arranged sales independent of day-to-day trading decisions.

How many COLLEGIUM (COLL) shares did Dreyer sell in total on March 3, 2026?

On March 3, 2026, Scott Dreyer sold a total of 49,976 shares of COLLEGIUM common stock. The Form 4 transaction summary combines 46,417 shares at one weighted average price and 3,559 shares at another weighted average price.

What type of transactions did Scott Dreyer execute in COLLEGIUM stock?

The filing shows open-market sales of COLLEGIUM common stock coded as “S” transactions. Both entries are non-derivative dispositions, classified as sales in open-market or private transactions, with Dreyer listed as holding the shares directly before and after the trades.