Indivior's Bhatt acquires 28,702 shares in merger
The merger converted Bhatt’s outstanding equity awards into successor-company awards, generally retaining their prior vesting terms.
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Form Type
4
Rhea-AI Filing Summary
Indivior Pharmaceuticals, Inc. (renamed Supernus, Inc. at the merger closing) was the successor company in which SVP of IP, CSO Padmanabh P. Bhatt acquired 28,702 common shares on November 2, 2026. Each outstanding share of Supernus Pharmaceuticals common stock converted into the right to receive 1.5401 shares of Indivior common stock; Bhatt received no cash consideration other than cash in lieu of a fractional share.
Indivior assumed and converted outstanding equity awards into corresponding Supernus, Inc. awards under substantially the same terms, including vesting, except performance stock unit awards became time-vesting restricted stock units. A converted RSU award covering 154,010 shares vests 50% at closing and 15%, 15%, and 20% at the first, second, and third anniversaries.
Insider Trade Summary
Other: 295,095 shares
Other
16 txns
Insider
Bhatt Padmanabh P.
Role
SVP of IP, CSO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Employee Stock Option (right to buy) F2, F3 | 7,700 | $0.00 | $0.00 |
| Other | Employee Stock Option (right to buy) F2, F3 | 23,101 | $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 | 154,010 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F9 | 2,541 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F10 | 2,618 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F9 | 3,850 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F10 | 1,832 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F9 | 1,778 | $0.00 | $0.00 |
| Other | Restricted Stock Units F2, F11 | 1,778 | $0.00 | $0.00 |
| Other | Common Stock F1 | 28,702 | $0.00 | $0.00 |
Holdings After Transaction:
Employee Stock Option (right to buy) — 82,394 contracts (Direct);
Restricted Stock Units — 183,999 contracts (Direct);
Common Stock — 28,702 shares (Direct)
Footnotes (11)
- 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, 2027.
- F10. These restricted stock units are settled in common stock upon vesting, which occurs on December 31, 2028.
- F11. These restricted stock units are settled in common stock upon vesting, which occurs on June 30, 2029.
Key Figures
Common shares acquired: 28,702 shares
Merger exchange ratio: 1.5401 shares per share
Converted option tranche: 7,700 shares; $25.07 per-share exercise price
+4 more
7 metrics
Common shares acquired
28,702 shares
Acquired by Padmanabh P. Bhatt on November 2, 2026
Merger exchange ratio
1.5401 shares per share
Supernus Pharmaceuticals common stock exchanged for Indivior common stock
Converted option tranche
7,700 shares; $25.07 per-share exercise price
Converted in the merger
Converted option tranche
23,101 shares; $18.15 per-share exercise price
Converted in the merger
Converted option tranche
30,802 shares; $21.77 per-share exercise price
Converted in the merger
Converted option tranche
20,791 shares; $32.60 per-share exercise price
Converted in the merger
Converted RSU award
154,010 shares
Vesting schedule includes 50% at merger closing, then 15%, 15%, and 20% at successive anniversaries
Key Terms
exchange ratio, equity award, restricted stock units, time-vesting restricted stock units
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.
equity award financial
"each outstanding Supernus Pharmaceuticals equity award was assumed by Indivior"
An equity award is a form of pay where a company gives employees, executives or other stakeholders the right to own or buy company shares—either immediately or after meeting certain conditions. Think of it like receiving slices of the company pie now or coupons to claim slices later; it matters to investors because it affects ownership dilution, executive incentives and reported compensation costs, and signals how management is being rewarded and retained.
restricted stock units financial
"These restricted stock units are settled in common stock upon vesting"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
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 handled in the merger?
Outstanding Supernus Pharmaceuticals equity awards were assumed by Indivior, renamed Supernus, Inc., and converted into corresponding awards covering successor-company shares using the 1.5401 exchange ratio, rounded down. Per-share exercise prices were divided by the ratio and rounded up to the nearest cent. Award terms generally continued, except performance stock units became time-vesting restricted stock units.
AI-generated analysis. How Rhea-AI works. Not financial advice.
