[144] Supernus Pharmaceuticals, Inc. SEC Filing

Rhea-AI Filing Summary

Supernus Pharmaceuticals insider activity notice reports a proposed sale of 6,322 common shares acquired and to be sold on 09/08/2025 following an exercise of stock options. The broker listed is Morgan Stanley Smith Barney LLC and the trade is planned on NASDAQ with an aggregate market value of $290,812. The filing also discloses multiple prior 10b5-1 sales by Jack A Khattar totaling 232,878 shares during Aug–Sep 2025, generating gross proceeds shown in the table. The filer represents no undisclosed material adverse information and certifies compliance with Rule 144 and 10b5-1 representations.

Insights

Financial Analyst

TL;DR Insider exercised options and plans a modest sale; prior 10b5-1 sales aggregated under 250k shares, immaterial to shares outstanding.

The filing documents an option exercise and immediate proposed sale of 6,322 shares valued at $290,812 and lists prior systematic 10b5-1 sales totaling 232,878 shares over August–September 2025. Relative to the 56,073,088 shares outstanding shown, the cumulative recent sales represent under 0.5% of the float, so the direct impact on equity supply is limited. The disclosure satisfies Rule 144 notice requirements and signals routine liquidity actions rather than company-specific news.

Corporate Governance Expert

TL;DR Filing reflects standard insider disclosure and use of 10b5-1 plans; no governance red flags in the document itself.

The notice clearly identifies the broker, exchange, acquisition date, and that the shares were acquired via option exercise with cash payment. It also lists multiple 10b5-1 sales by the named insider, showing adherence to prearranged trading plans. There is a signed representation that no material non-public information is known. From a governance perspective, the form is complete and conforms to disclosure expectations; it does not allege any regulatory or compliance issues.

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	6322	290812.00	56073088	09/08/2025	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	09/08/2025	Exercise of Stock Options	Issuer			6322	09/08/2025	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	09/05/2025	55578	2556888.12
10b5-1 Sales for JACK A KHATTAR 9715 Key West Avenue Rockville MD 20850	Common	08/28/2025	24150	1089575.55
10b5-1 Sales for JACK A KHATTAR 9715 Key West Avenue Rockville MD 20850	Common	08/27/2025	10650	479826.17
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 shares and amount does the Form 144 for SUPN report?

The notice reports a proposed sale of 6,322 common shares valued at $290,812 to be sold on 09/08/2025 on NASDAQ.

How were the shares acquired per the filing?

The filing states the shares were acquired on 09/08/2025 through an exercise of stock options and paid for in cash.

Who is the broker handling the sale?

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

What prior insider sales are disclosed in the filing?

The filing lists multiple 10b5-1 sales by Jack A Khattar totaling 232,878 shares between 08/06/2025 and 09/05/2025 with aggregated gross proceeds shown in the table.

How significant are these insider sales relative to shares outstanding?

The filing shows 56,073,088 shares outstanding; the recent aggregated sales (~232,878 shares) represent under 0.5% of outstanding shares.