[144] SUPERNUS PHARMACEUTICALS, INC. SEC Filing

Rhea-AI Filing Summary

Notice of proposed sale under Rule 144 for Supernus Pharmaceuticals, Inc. (SUPN) reports an intended sale of 25,000 common shares through Morgan Stanley Smith Barney LLC with an aggregate market value of $1,200,000.00. The shares were acquired on 05/01/2012 as an in-kind distribution from NEA Partners. The filing lists total shares outstanding as 56,073,088, and an approximate sale date of 10/09/2025 on the NASDAQ. The filer also disclosed recent Rule 10b5-1 executed sales by Charles Newhall totaling 6,000 shares across three trades on 08/22/2025, 08/25/2025, and 08/27/2025

Positive

• Brokered sale through Morgan Stanley indicates orderly execution channel for the 25,000 shares
• Acquisition documented (in-kind distribution from NEA Partners on 05/01/2012), supporting ownership provenance

Negative

• Insider selling activity: recent Rule 10b5-1 sales of 3,588, 1,412, and 1,000 shares occurred in 08/2025, totaling 6,000 shares
• Represents potential dilution signal: 25,000 shares equal a measurable sale against 56,073,088 outstanding shares

Insights

Securities Compliance Analyst

Planned sale is formally disclosed and appears executed via broker and 10b5-1 plans.

The filing documents a proposed Rule 144 sale of 25,000 common shares valued at $1.2M, acquired by in-kind distribution from NEA Partners on 05/01/2012. The transaction is routed through Morgan Stanley Smith Barney LLC and slated for trading on NASDAQ on 10/09/2025.

Dependencies and compliance risks include adherence to Rule 144 timing/volume limits and the representational statement about no undisclosed material information. Recent 10b5-1 sales by the same account—totaling 6,000 shares in 08/2025—indicate prior executed sale activity; confirm plan adoption dates and broker instructions to validate Rule 10b5-1 reliance.

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

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	25000	1200000.00	56073088	10/09/2025	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	05/01/2012	In-Kind Distribution	NEA Partners			25000	05/01/2012	N/A

* 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 CHARLES NEWHALL 9715 Key West Avenue Rockville MD 20850	Common	08/27/2025	3588	161506.64
10b5-1 Sales for CHARLES NEWHALL 9715 Key West Avenue Rockville MD 20850	Common	08/25/2025	1000	45001.00
10b5-1 Sales for CHARLES NEWHALL 9715 Key West Avenue Rockville MD 20850	Common	08/22/2025	1412	63543.95

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 does SUPN Form 144 disclose about the sale?

The filing discloses a proposed sale of 25,000 common shares valued at $1,200,000.00, to be executed through Morgan Stanley Smith Barney LLC on 10/09/2025.

Who originally acquired the 25,000 shares listed on the SUPN Form 144?

The shares were acquired as an in-kind distribution from NEA Partners on 05/01/2012.

Are there recent related sales reported in the filing for SUPN?

Yes. The filing shows Rule 10b5-1 sales by Charles Newhall on 08/22/2025 (1,412 shares), 08/25/2025 (1,000 shares), and 08/27/2025 (3,588 shares), with combined gross proceeds reported.

How many SUPN shares are outstanding according to the filing?

The filing lists total shares outstanding as 56,073,088.

Which exchange will the SUPN shares be sold on?

The proposed sale is to occur on the NASDAQ exchange.