[144] Supernus Pharmaceuticals, Inc. SEC Filing

Rhea-AI Filing Summary

Supernus Pharmaceuticals (SUPN) filed a Form 144 notifying a proposed sale of 14,000 common shares. The shares are to be sold through Morgan Stanley Smith Barney LLC on NASDAQ with an approximate aggregate market value of $623,070, representing part of the company's 56,073,088 shares outstanding. The filing shows the shares were acquired and will be sold on 08/25/2025 following an exercise of options under a registered plan and were paid for in cash on that date. The filer reports no securities sold in the past three months. The notice includes the standard representation that the seller is not aware of undisclosed material adverse information.

Positive

• Transparent regulatory compliance—the filer disclosed the proposed sale under Rule 144 through a listed broker
• No prior sales in the past three months, reducing aggregated-sale complexity under Rule 144
• Securities acquired via exercise under a registered plan and paid in cash, indicating standard compensation mechanics

Negative

• None.

Insights

Securities Analyst

TL;DR: Officer/insider intends to sell recently exercised shares worth $623k, a routine liquidity event disclosed under Rule 144.

The Form 144 documents a proposed sale of 14,000 common shares acquired and paid for on 08/25/2025 via option exercise under a registered plan. The sale is routed through Morgan Stanley Smith Barney on NASDAQ and equals an aggregate market value of $623,070 against 56,073,088 shares outstanding. As disclosed, there were no other sales in the prior three months. This filing is procedural disclosure required for restricted/controlled securities and, based solely on the filing, indicates a routine insider liquidity event rather than a material corporate development.

Corporate Governance Expert

TL;DR: The filing reflects compliance with Rule 144 and confirms no recent aggregated sales, signaling orderly insider selling.

The notice specifies the shares arose from exercising options under a registered plan and were paid in cash on the acquisition date, suggesting an approved compensation exercise. The seller affirms no undisclosed material adverse information. The absence of prior three-month sales reduces aggregation concerns under Rule 144. From a governance perspective, the filing documents transparency around insider disposition consistent with regulatory requirements.

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	14000	623070.00	56073088	08/25/2025	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	08/25/2025	Exercise of options under a registered plan	Issuer			14000	08/25/2025	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

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

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 Supernus (SUPN) Form 144 filed on 08/25/2025 disclose?

The Form 144 notifies a proposed sale of 14,000 common shares acquired and paid for on 08/25/2025, with aggregate market value $623,070, to be sold via Morgan Stanley Smith Barney on NASDAQ.

Why was a Form 144 filed for SUPN shares?

Form 144 is required to disclose proposed sales of restricted or control securities; these shares were acquired by exercise of options under a registered plan and therefore the filer must report the intended sale.

How many SUPN shares are outstanding and what portion does this sale represent?

The filing shows 56,073,088 shares outstanding; the proposed sale is 14,000 shares (a de minimis fraction of outstanding shares).

Were any SUPN securities sold by this person in the past three months?

The Form 144 states: Nothing to Report for securities sold during the past three months.

What broker will handle the SUPN share sale?

The broker listed is Morgan Stanley Smith Barney LLC, Executive Financial Services, New York.