CPIX: Director Krogulski Acquires Shares via 10b5-1, Sept 2025

Rhea-AI Filing Summary

Kenneth J. Krogulski, a director of Cumberland Pharmaceuticals Inc. (CPIX), reported a sequence of open-market purchases of the issuer's common stock executed between 09/02/2025 and 09/30/2025. The transactions were completed under a pre-established Rule 10b5-1 trading plan adopted on 11/14/2024 and were executed automatically.

Across multiple dates Mr. Krogulski acquired shares at prices ranging from $3.05 to $3.60, resulting in beneficial ownership of 291,031 shares following the reported transactions. Each purchase is reported as a direct ownership change and the purchases are shown as individual trades on consecutive trading days in September 2025.

Positive

• Beneficial ownership increased to 291,031 shares after reported purchases
• All purchases executed under a Rule 10b5-1 plan adopted on 11/14/2024, indicating pre-planned trading
• Transactions reported as direct ownership, providing clarity on holdings

Negative

• None.

Insights

Corporate Governance Expert

Director executed systematic purchases under a Rule 10b5-1 plan, raising holdings to 291,031 shares.

The filing shows a director used an established 10b5-1 plan (adopted 11/14/2024) to make routine, automated purchases from 09/02/2025 to 09/30/2025.

These trades span prices from $3.05 to $3.60, and each is reported as direct ownership. The structure and timing indicate pre-planned execution rather than discretionary insider trading.

Insider Trade Summary

21 transactions reported

Mixed 21 txns

Insider Krogulski Kenneth

Role Director

Type	Security	Shares	Price	Value
L	Common Stock	68	$3.12	$212.16
L	Common Stock	68	$3.14	$213.52
L	Common Stock	62	$3.05	$189.10
L	Common Stock	62	$3.10	$192.20
L	Common Stock	62	$3.10	$192.20
L	Common Stock	62	$3.21	$199.02
L	Common Stock	62	$3.29	$203.98
L	Common Stock	62	$3.34	$207.08
L	Common Stock	62	$3.31	$205.22
L	Common Stock	62	$3.38	$209.56
L	Common Stock	62	$3.50	$217.00
L	Common Stock	62	$3.50	$217.00
L	Common Stock	62	$3.54	$219.48
L	Common Stock	62	$3.41	$211.42
L	Common Stock	62	$3.39	$210.18
L	Common Stock	62	$3.43	$212.66
L	Common Stock	62	$3.41	$211.42
L	Common Stock	62	$3.60	$223.20
L	Common Stock	62	$3.60	$223.20
L	Common Stock	62	$3.58	$221.96
L	Common Stock	62	$3.54	$219.48

Holdings After Transaction: Common Stock — 291,031 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).

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)
09/02/2025

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	09/02/2025		L	V	62(1)	A	$3.54	289,779	D
Common Stock	09/03/2025		L	V	62(1)	A	$3.58	289,841	D
Common Stock	09/04/2025		L	V	62(1)	A	$3.6	289,903	D
Common Stock	09/05/2025		L	V	62(1)	A	$3.6	289,965	D
Common Stock	09/08/2025		L	V	62(1)	A	$3.41	290,027	D
Common Stock	09/09/2025		L	V	62(1)	A	$3.43	290,089	D
Common Stock	09/10/2025		L	V	62(1)	A	$3.39	290,151	D
Common Stock	09/11/2025		L	V	62(1)	A	$3.41	290,213	D
Common Stock	09/12/2025		L	V	62(1)	A	$3.54	290,275	D
Common Stock	09/15/2025		L	V	62(1)	A	$3.5	290,337	D
Common Stock	09/16/2025		L	V	62(1)	A	$3.5	290,399	D
Common Stock	09/17/2025		L	V	62(1)	A	$3.38	290,461	D
Common Stock	09/18/2025		L	V	62(1)	A	$3.31	290,523	D
Common Stock	09/19/2025		L	V	62(1)	A	$3.34	290,585	D
Common Stock	09/22/2025		L	V	62(1)	A	$3.29	290,647	D
Common Stock	09/23/2025		L	V	62(1)	A	$3.21	290,709	D
Common Stock	09/24/2025		L	V	62(1)	A	$3.1	290,771	D
Common Stock	09/25/2025		L	V	62(1)	A	$3.1	290,833	D
Common Stock	09/26/2025		L	V	62(1)	A	$3.05	290,895	D
Common Stock	09/29/2025		L	V	68(1)	A	$3.14	290,963	D
Common Stock	09/30/2025		L	V	68(1)	A	$3.12	291,031	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	10/03/2025
	** 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 Cumberland Pharmaceuticals director Kenneth Krogulski report on Form 4 (CPIX)?

He reported multiple purchases of common stock executed between 09/02/2025 and 09/30/2025, increasing his beneficial ownership to 291,031 shares.

Were the purchases by the director discretionary or part of a plan?

The purchases were executed automatically under a pre-established Rule 10b5-1 trading plan adopted on 11/14/2024.

What price range did the reported purchases occur at?

Reported purchase prices ranged from $3.05 to $3.60 per share during September 2025.

Is the reported ownership direct or indirect?

Each reported transaction is listed as Direct (D) beneficial ownership.

How many trading dates in September 2025 contain reported transactions?

Transactions are reported on multiple dates from 09/02/2025 through 09/30/2025, inclusive of at least 18 trading entries shown in the filing.