Insider Purchases: CPIX Director Raises Direct Stake to 288,345 Shares

Rhea-AI Filing Summary

Kenneth J. Krogulski, a director of Cumberland Pharmaceuticals Inc. (CPIX), executed a series of automated purchases of the company's common stock during July 2025 under a Rule 10b5-1 trading plan adopted on November 14, 2024. Over 22 trading dates from July 1 to July 31, the reporting shows purchases totaling 1,712 shares, increasing his direct beneficial ownership to 288,345 shares. Transaction prices ranged from $3.05 to $3.82, with individual daily purchases of mostly 80 shares and later 68 shares.

The Form 4 indicates these purchases were made automatically pursuant to the previously adopted 10b5-1 plan and that ownership is held directly. No derivative transactions or other classes of securities are reported on this filing.

Positive

• Automated 10b5-1 purchases were used, showing pre-planned execution under a documented trading plan adopted on November 14, 2024.
• Total of 1,712 shares acquired during July 2025, increasing direct ownership to 288,345 shares according to the Form 4.
• Detailed trade-level disclosure is provided, including per-share prices ranging from $3.05 to $3.82 and post-transaction ownership.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director completed systematic, plan-driven purchases totaling 1,712 CPIX shares, raising direct holdings to 288,345 shares.

The Form 4 documents scheduled purchases executed under a Rule 10b5-1 plan adopted on November 14, 2024, which provides an affirmative defense for pre-planned trades. The purchases occurred across 22 dates in July 2025 and were executed directly by the reporting person. From a governance perspective, the filing signals routine, rule-compliant insider activity rather than opportunistic or ad-hoc trading. The disclosure is transparent and includes per-share prices and post-transaction ownership, which helps investors assess insider exposure without raising immediate compliance concerns.

Securities Analyst

TL;DR: Sequential July purchases add 1,712 shares at $3.05–$3.82, a modest position increase in direct ownership.

The reported transactions show small, repeated purchases (primarily 80 shares, later 68 shares) culminating in a direct stake of 288,345 shares. Prices in the filings span $3.05 to $3.82 per share. The trades were automatic under the disclosed 10b5-1 plan, indicating they were pre-authorized rather than discretionary. For investors, these are factual insider purchases but of limited scale relative to typical institutional positions; the filing does not disclose any derivative activity or other material changes.

Insider Trade Summary

Net Buyer: 1,712 shares ($5,872)

Net Buy 22 txns

Insider Krogulski Kenneth

Role Director

Bought 1,712 shs ($6K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	68	$3.50	$238.00
Purchase	Common Stock	68	$3.55	$241.40
Purchase	Common Stock	68	$3.33	$226.44
Purchase	Common Stock	68	$3.47	$235.96
Purchase	Common Stock	80	$3.37	$269.60
Purchase	Common Stock	80	$3.55	$284.00
Purchase	Common Stock	80	$3.54	$283.20
Purchase	Common Stock	80	$3.47	$277.60
Purchase	Common Stock	80	$3.45	$276.00
Purchase	Common Stock	80	$3.59	$287.20
Purchase	Common Stock	80	$3.82	$305.60
Purchase	Common Stock	80	$3.79	$303.20
Purchase	Common Stock	80	$3.45	$276.00
Purchase	Common Stock	80	$3.46	$276.80
Purchase	Common Stock	80	$3.21	$256.80
Purchase	Common Stock	80	$3.20	$256.00
Purchase	Common Stock	80	$3.05	$244.00
Purchase	Common Stock	80	$3.06	$244.80
Purchase	Common Stock	80	$3.23	$258.40
Purchase	Common Stock	80	$3.31	$264.80
Purchase	Common Stock	80	$3.52	$281.60
Purchase	Common Stock	80	$3.56	$284.80

Holdings After Transaction: Common Stock — 288,345 shares (Direct)

Footnotes (1)

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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).

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^*

Krogulski Kenneth

(Last) (First) (Middle)

1600 WEST END AVE., SUITE 1300

(Street)

NASHVILLE TN 37203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CUMBERLAND PHARMACEUTICALS INC [ CPIX ]

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)
07/01/2025

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	07/01/2025		P	V	80(1)	A	$3.56	286,713	D
Common Stock	07/02/2025		P	V	80(1)	A	$3.52	286,793	D
Common Stock	07/03/2025		P	V	80(1)	A	$3.31	286,873	D
Common Stock	07/07/2025		P	V	80(1)	A	$3.23	286,953	D
Common Stock	07/08/2025		P	V	80(1)	A	$3.06	287,033	D
Common Stock	07/09/2025		P	V	80(1)	A	$3.05	287,113	D
Common Stock	07/10/2025		P	V	80(1)	A	$3.2	287,193	D
Common Stock	07/11/2025		P	V	80(1)	A	$3.21	287,273	D
Common Stock	07/14/2025		P	V	80(1)	A	$3.46	287,353	D
Common Stock	07/15/2025		P	V	80(1)	A	$3.45	287,433	D
Common Stock	07/16/2025		P	V	80(1)	A	$3.79	287,513	D
Common Stock	07/17/2025		P	V	80(1)	A	$3.82	287,593	D
Common Stock	07/18/2025		P	V	80(1)	A	$3.59	287,673	D
Common Stock	07/21/2025		P	V	80(1)	A	$3.45	287,753	D
Common Stock	07/22/2025		P	V	80(1)	A	$3.47	287,833	D
Common Stock	07/23/2025		P	V	80(1)	A	$3.54	287,913	D
Common Stock	07/24/2025		P	V	80(1)	A	$3.55	287,993	D
Common Stock	07/25/2025		P	V	80(1)	A	$3.37	288,073	D
Common Stock	07/28/2025		P	V	68(1)	A	$3.47	288,141	D
Common Stock	07/29/2025		P	V	68(1)	A	$3.33	288,209	D
Common Stock	07/30/2025		P	V	68(1)	A	$3.55	288,277	D
Common Stock	07/31/2025		P	V	68(1)	A	$3.5	288,345	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 reported purchase occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 14, 2024.

Remarks:

	Kenneth J. Krogulski by /s/ John Hamm as attorney-in-fact	08/11/2025
	** 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

Who filed the Form 4 for Cumberland Pharmaceuticals (CPIX)?

The Form 4 was filed by Kenneth J. Krogulski, identified as a director of the issuer.

What insider activity is reported on this CPIX Form 4?

The filing reports multiple purchases of common stock executed in July 2025 under a Rule 10b5-1 plan.

How many shares did the director buy and what is his holding after the transactions?

The director acquired a total of 1,712 shares in July 2025, bringing his direct beneficial ownership to 288,345 shares.

What price range did the July 2025 purchases occur at for CPIX?

Transaction prices reported in the filing ranged from $3.05 to $3.82 per share.

Were the purchases discretionary or part of a trading plan?

The purchases occurred automatically pursuant to a Rule 10b5-1 trading plan adopted on November 14, 2024, as stated in the filing.