Rule 10b5-1 sale by Royalty Pharma (RPRX) director Gregory Norden

Rhea-AI Filing Summary

Royalty Pharma plc director Gregory Norden reported an open-market sale of Class A Ordinary Shares. On May 14, 2026, he sold 3,045 shares at $53.00 per share. After this transaction, he directly holds 191,803 Class A Ordinary Shares.

The filing notes the trade was carried out under a pre-arranged Rule 10b5-1 trading plan adopted on February 12, 2026, indicating the sale timing was scheduled in advance rather than decided opportunistically.

Insider Trade Summary 10b5-1

Net Seller: 3,045 shares ($161,385)

Net Sell 1 txn

Insider Norden Gregory

Role null

Sold 3,045 shs ($161K)

Type	Security	Shares	Price	Value
Sale	Class A Ordinary Shares	3,045	$53.00	$161K

Holdings After Transaction: Class A Ordinary Shares — 191,803 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares sold: 3,045 shares Sale price: $53.00 per share Shares held after sale: 191,803 shares +2 more

5 metrics

Shares sold 3,045 shares Open-market sale on May 14, 2026

Sale price $53.00 per share Price for Class A Ordinary Shares sold

Shares held after sale 191,803 shares Direct ownership following transaction

Transaction type Open-market sale (Code S) Non-derivative Form 4 transaction

Trading plan Rule 10b5-1 plan Adopted February 12, 2026

Key Terms

Class A Ordinary Shares, open-market sale, Rule 10b5-1 trading plan, Form 4

4 terms

Class A Ordinary Shares financial

"The reported transaction involved Class A Ordinary Shares in an open-market sale."

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

open-market sale financial

"The transaction is coded as an open-market sale of 3,045 shares at $53.00."

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Rule 10b5-1 trading plan regulatory

"The sale was effected pursuant to a Rule 10b5-1 trading plan adopted earlier."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Form 4 regulatory

"The insider transaction is disclosed in a Form 4 filed for Gregory Norden."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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^*

Norden Gregory

(Last) (First) (Middle)

C/O ROYALTY PHARMA PLC

110 E. 59TH STREET

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Royalty Pharma plc [ RPRX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Class A Ordinary Shares	05/14/2026		S(1)		3,045	D	$53	191,803	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 transaction was effected pursuant to a 10b5-1 plan adopted by the Reporting Person on February 12, 2026.

Remarks:

	/s/ Sean Weisberg, as Attorney-in-Fact for Gregory Norden	05/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Royalty Pharma (RPRX) disclose for Gregory Norden?

Royalty Pharma reported that director Gregory Norden sold 3,045 Class A Ordinary Shares in an open-market transaction at $53.00 per share. The sale is disclosed in a Form 4 and reflects a routine insider trade rather than a new compensation grant.

How many Royalty Pharma (RPRX) shares does Gregory Norden hold after the sale?

Following the reported transaction, Gregory Norden directly owns 191,803 Class A Ordinary Shares of Royalty Pharma. This post-transaction holding shows he retains a substantial equity position even after selling 3,045 shares in the disclosed open-market sale.

At what price did Gregory Norden sell Royalty Pharma (RPRX) shares?

The filing states that 3,045 Class A Ordinary Shares were sold at an average price of $53.00 per share. This price reflects the consideration received per share in the open-market transaction reported on the Form 4 for director Gregory Norden.

Was the Royalty Pharma (RPRX) insider sale under a Rule 10b5-1 plan?

Yes. A footnote explains the reported sale was executed under a Rule 10b5-1 trading plan adopted by Gregory Norden on February 12, 2026. Such plans pre-schedule trades, helping separate trading decisions from day-to-day market conditions.

Who is the insider involved in the latest Royalty Pharma (RPRX) Form 4?

The Form 4 identifies Gregory Norden as the reporting person, serving as a director of Royalty Pharma plc. He reported an open-market sale of Class A Ordinary Shares and continues to directly hold 191,803 shares after the transaction.