[144] Supernus Pharmaceuticals, Inc. SEC Filing

Rhea-AI Filing Summary

Supernus Pharmaceuticals (SUPN) insider sale notice: An officer filed a Form 144 to sell 10,650 shares of common stock on NASDAQ through Morgan Stanley Smith Barney. The 10,650 shares were acquired and are to be sold following an exercise of stock options with cash payment on the same date. The filing also discloses prior 10b5-1 plan sales by the same person totaling 142,500 shares over the past three months, generating aggregate gross proceeds of approximately $5,995,737.40. The current proposed sale lists an aggregate market value of $472,008.00.

Positive

• Disclosure compliance: Form 144 filed with broker and transaction details, indicating adherence to Rule 144 reporting requirements
• Use of 10b5-1 plans: Prior sales were executed under 10b5-1 arrangements, which supports preplanned, lawful selling activity

Negative

• Material insider selling: 142,500 shares sold in the past three months for ~$5,995,737.40, which is a notable volume and proceeds amount
• Additional proposed sale: 10,650 shares (market value listed as $472,008.00) increases aggregate insider dispositions recently

Insights

Financial Analyst

TL;DR: Insider is selling option-exercised shares; prior 10b5-1 sales were sizable but appear preplanned.

The notice shows 10,650 shares to be sold after an option exercise funded in cash, indicating monetization of vested compensation rather than open-market purchases. Prior 10b5-1 plan transactions over the past three months total 142,500 shares and roughly $6.0 million in proceeds, which is material in absolute terms and may affect short-term float and supply. This disclosure is transparent and follows Rule 144 procedures, but the cumulative insider selling level is noteworthy for investors monitoring insider activity.

Compliance/Risk Analyst

TL;DR: Filing documents compliance with Rule 144 and references 10b5-1 sales; volume of sales is significant.

The Form 144 lists broker details and confirms the securities were acquired by option exercise and paid in cash, which supports the legitimacy of the sale under Rule 144. Multiple large 10b5-1 transactions in a short period increase governance scrutiny risk and could attract investor attention, though the presence of a trading plan suggests procedural compliance. No allegations or regulatory issues are stated in the filing.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	10650	472008.00	56073088	08/27/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/27/2025	Exercise of Stock Options	Issuer			10650	08/27/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for JACK A KHATTAR 9715 Key West Avenue Rockville MD 20850	Common	08/25/2025	1000	45001.00
10b5-1 Sales for JACK A KHATTAR 9715 Key West Avenue Rockville MD 20850	Common	08/22/2025	1500	67504.05
10b5-1 Sales for JACK A KHATTAR 9715 Key West Avenue Rockville MD 20850	Common	08/06/2025	38500	1549055.20
10b5-1 Sales for JACK A KHATTAR 9715 Key West Avenue Rockville MD 20850	Common	08/06/2025	38000	1596000.00
10b5-1 Sales for JACK A KHATTAR 9715 Key West Avenue Rockville MD 20850	Common	08/06/2025	63500	2738177.15

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did the Form 144 filed for SUPN disclose?

The filing discloses a proposed sale of 10,650 shares acquired by exercise of stock options, to be sold via Morgan Stanley Smith Barney on NASDAQ.

How many shares did the insider sell in the past three months for SUPN?

The filing lists prior 10b5-1 sales totaling 142,500 shares across several trades in the past three months.

What were the gross proceeds from recent insider sales reported in the filing?

Aggregate gross proceeds reported for those prior sales equal approximately $5,995,737.40.

How were the 10,650 shares being sold acquired?

They were acquired on the same date by exercise of stock options and paid for in cash.

Which broker and exchange are listed for the proposed sale?

The broker is Morgan Stanley Smith Barney LLC and the exchange listed is NASDAQ.