[144] Supernus Pharmaceuticals, Inc. SEC Filing

Rhea-AI Filing Summary

Supernus Pharmaceuticals (SUPN) filed a Form 144 disclosing a proposed sale of 7,457 common shares through Morgan Stanley Smith Barney LLC on the NASDAQ with an approximate aggregate market value of $315,116.41. The shares represent restricted stock that vested under a registered plan and were acquired from the issuer on 11/15/2023. The filing reports 56,073,088 shares outstanding for the issuer and indicates no securities sold by the reporting person in the past three months. The notice includes the standard signer representation that they are unaware of undisclosed material adverse information.

Positive

• Disclosure of proposed sale of 7,457 common shares provides investor transparency
• Transaction originated from restricted stock vesting (11/15/2023), a routine compensation event
• Sale to be executed through Morgan Stanley Smith Barney LLC, indicating use of a regulated broker-dealer
• No securities sold in past three months, suggesting this is not part of rapid divestiture

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine insider sale notice; quantity is immaterial relative to outstanding shares and primarily a vesting event.

The Form 144 reports a proposed disposal of 7,457 shares valued at $315,116.41, acquired via restricted stock vesting on 11/15/2023. Compared with 56,073,088 shares outstanding, the position disclosed is negligible (<0.02%), indicating no immediate dilution or market-moving sell pressure disclosed here. The filing complies with Rule 144 disclosure requirements and notes no sales in the prior three months, which supports this being a planned, compliant sale rather than a rapid divestiture.

Corporate Governance Expert

TL;DR: Filing reflects standard compliance with insider trading disclosure rules following restricted stock vesting.

The notice documents that securities were acquired via restricted stock vesting under a registered plan and will be sold through a registered broker-dealer. The inclusion of the signer representation about material nonpublic information and the absence of recent sales align with good governance and insider disclosure practices. No information in the filing indicates governance concerns or undisclosed material events.

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	7457	315116.41	56073088	08/14/2025	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	11/15/2023	Restricted stock vesting under a registered plan	Issuer			7457	11/15/2023	Not Applicable

* 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 did the SUPN Form 144 report?

The filing reports a proposed sale of 7,457 common shares with an aggregate market value of $315,116.41 to be sold on 08/14/2025 on NASDAQ through Morgan Stanley Smith Barney LLC.

How and when were the shares being sold acquired?

The shares were acquired on 11/15/2023 as restricted stock vesting under a registered plan from the issuer.

Does the filing indicate recent sales by the reporting person?

No. The Form 144 states "Nothing to Report" for securities sold during the past three months.

How large is the proposed sale relative to outstanding shares?

The filing lists 56,073,088 shares outstanding; the proposed sale of 7,457 shares represents a very small portion of that total.

Who is the broker handling the sale?

The sale is to be handled by Morgan Stanley Smith Barney LLC at 1 New York Plaza, 8th Floor, New York, NY 10004.