Indivior CMO acquires 21,529 Supernus merger shares
The merger exchanged the officer’s Supernus Pharmaceuticals shares and converted existing equity awards using a 1.5401 exchange ratio.
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Form Type
4
Rhea-AI Filing Summary
Indivior Pharmaceuticals, Inc. (INDV) reported that Jonathan Rubin, SVP, Chief Medical Officer, acquired 21,529 shares of Supernus, Inc. common stock in the merger effective November 2, 2026, in exchange for Supernus Pharmaceuticals common shares he held. The merger provided 1.5401 shares of Supernus, Inc. common stock for each outstanding Supernus Pharmaceuticals share; cash consideration was limited to cash in lieu of a fractional share.
Indivior assumed and converted outstanding equity awards into corresponding awards covering shares based on the 1.5401 exchange ratio, with the converted awards generally retaining their prior terms, including vesting. Performance stock unit awards were converted into time-vesting restricted stock units.
Insider Trade Summary
Other: 377,864 shares
Other
20 txns
Insider
Rubin Jonathan
Role
SVP, Chief Medical Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Employee Stock Option (right to buy) F2, F3 | 23,101 | $0.00 | $0.00 |
| Other | Employee Stock Option (right to buy) F2, F3 | 38,502 | $0.00 | $0.00 |
| Other | Employee Stock Option (right to buy) F2, F3 | 38,502 | $0.00 | $0.00 |
| Other | Employee Stock Option (right to buy) F2, F3 | 30,802 | $0.00 | $0.00 |
| Other | Employee Stock Option (right to buy) F2, F3 | 38,502 | $0.00 | $0.00 |
| Other | Employee Stock Option (right to buy) F2, F3 | 30,802 | $0.00 | $0.00 |
| Other | Employee Stock Option (right to buy) F2, F3 | 20,791 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F4 | 1,925 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F5 | 3,850 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F6 | 5,197 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F7 | 4,620 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F8 | 107,807 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F9 | 2,695 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F10 | 1,155 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F10 | 1,155 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F11 | 1,540 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F11 | 1,886 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F12 | 1,886 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F13 | 1,617 | $0.00 | $0.00 |
| Other | Common Stock F1 | 21,529 | $0.00 | $0.00 |
Holdings After Transaction:
Employee Stock Option (right to buy) — 221,002 contracts (Direct);
Restricted Stock Units — 135,333 contracts (Direct);
Common Stock — 21,529 shares (Direct)
Footnotes (13)
- F1. Pursuant to the Agreement and Plan of Merger, dated as of August 1, 2026, by and among Indivior Pharmaceuticals, Inc. ("Indivior"), Artemis Merger Sub Inc. and Supernus Pharmaceuticals, Inc. ("Supernus Pharmaceuticals"), at the effective time of the merger on 11/2/26, Artemis Merger Sub Inc. merged with and into Supernus Pharmaceuticals, with Supernus Pharmaceuticals surviving as a wholly-owned subsidiary of Indivior. At the effective time, each outstanding share of Supernus Pharmaceuticals common stock was cancelled and automatically converted into the right to receive 1.5401 shares of Indivior common stock. In connection with the merger, Indivior changed its name to "Supernus, Inc." The reporting person's shares of Supernus Pharmaceuticals common stock were disposed of, and the shares of Supernus, Inc. common stock received in exchange were acquired, pursuant to the merger. The reporting person received no cash consideration other than cash in lieu of a fractional share.
- F2. Pursuant to the Agreement and Plan of Merger, dated as of August 1, 2026, by and among Indivior Pharmaceuticals, Inc. ("Indivior"), Artemis Merger Sub Inc. and Supernus Pharmaceuticals, Inc. ("Supernus Pharmaceuticals"), at the effective time of the merger on 11/2/2026, each outstanding Supernus Pharmaceuticals equity award was assumed by Indivior (renamed Supernus, Inc.) and automatically converted into a corresponding Supernus, Inc. equity award covering the number of Supernus, Inc. shares equal to the number of Supernus Pharmaceuticals shares subject to the award multiplied by the 1.5401 exchange ratio (rounded down), with the per-share exercise price divided by the exchange ratio and rounded up to the nearest whole cent. Each converted award is subject to substantially the same terms and conditions, including vesting, that applied immediately prior to the effective time, except performance stock unit awards were converted into time-vesting restricted stock units.
- F3. The option vests in four equal annual installments beginning on the specified date.
- F4. These restricted stock units are settled in common stock upon vesting, which occurs in four equal annual installments, beginning on February 23, 2024.
- F5. These restricted stock units are settled in common stock upon vesting, which occurs in four equal annual installments, beginning on February 22, 2025.
- F6. These restricted stock units are settled in common stock upon vesting, which occurs in four equal annual installments, beginning on February 19, 2026.
- F7. These restricted stock units are settled in common stock upon vesting, which occurs in four equal annual installments, beginning on February 18, 2027.
- F8. These restricted stock units ("RSUs") are settled in common stock upon vesting, which occurs in four installments. 50% of the RSUs vest upon the closing of the merger-of-equals transaction between Supernus Pharmaceuticals, Inc. and Indivior Pharmaceuticals, Inc. (the "Closing"). 15% of the RSUs vest upon the one-year anniversary of the Closing. 15% of the RSUs vest upon the two-year anniversary of the Closing. 20% of the RSUs vest upon the three-year anniversary of the Closing.
- F9. These restricted stock units are settled in common stock upon vesting, which occurs on December 31, 2026.
- F10. These restricted stock units are settled in common stock upon vesting, which occurs on December 31, 2027.
- F11. These restricted stock units are settled in common stock upon vesting, which occurs on June 30, 2027.
- F12. These restricted stock units are settled in common stock upon vesting, which occurs on June 30, 2029.
- F13. These restricted stock units are settled in common stock upon vesting, which occurs on June 30, 2028.
Key Figures
Common shares acquired: 21,529 shares
Merger exchange ratio: 1.5401 shares
Converted award shares: 377,864 shares
+1 more
4 metrics
Common shares acquired
21,529 shares
Jonathan Rubin; merger effective November 2, 2026
Merger exchange ratio
1.5401 shares
Supernus, Inc. common stock for each outstanding Supernus Pharmaceuticals common share
Converted award shares
377,864 shares
Across 19 derivative-award records
Converted option exercise prices
$15.58, $19.23, $20.91, $25.07, $18.15, $21.77 and $32.60 per share
Seven employee stock option records
Key Terms
exchange ratio, vesting, time-vesting restricted stock units, cash in lieu of a fractional share
4 terms
exchange ratio financial
"multiplied by the 1.5401 exchange ratio"
The exchange ratio is the number used to decide how many shares of one company you get for each share you own in another company during a merger or acquisition. It’s like a recipe that tells you how to swap shares fairly, ensuring both companies’ values are balanced. This ratio matters because it determines how ownership divides between the companies' shareholders.
vesting financial
"including vesting"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
time-vesting restricted stock units financial
"converted into time-vesting restricted stock units"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How were INDV equity awards converted in the merger?
Outstanding Supernus Pharmaceuticals equity awards were assumed and converted into corresponding Supernus, Inc. awards, with the share count based on the 1.5401 exchange ratio and rounded down. Per-share exercise prices were divided by that ratio and rounded up to the nearest whole cent. Converted awards generally retained their prior terms, including vesting; performance stock unit awards became time-vesting restricted stock units.
AI-generated analysis. How Rhea-AI works. Not financial advice.
