Supernus (SUPN) insider sells 40,173 shares; holds 1.16M direct

Rhea-AI Filing Summary

Jack A. Khattar, President and CEO and a director of Supernus Pharmaceuticals, Inc. (SUPN), reported transactions on 10/01/2025 showing the acquisition and sale of company common stock. He acquired 53,785 shares pursuant to an employee stock option with an exercise price of $25.30 and also sold 40,173 shares at a weighted average price of $48.07. The acquisition was made under a 10b5-1 trading plan adopted November 14, 2024, and the sale occurred in multiple transactions at prices ranging from $48.00 to $48.25.

After these transactions Mr. Khattar directly beneficially owns 1,160,870 shares and indirectly (through the KBT Trust) holds 1,005,600 shares, for a combined reported interest disclosed on the form. The exercised option vests in four equal installments beginning on 02/24/2018 and expires on 02/24/2027.

Positive

• Exercise of 53,785 options at $25.30 shows use of compensation-related equity mechanisms
• Sale executed under a 10b5-1 plan adopted November 14, 2024, indicating a pre-established trading arrangement

Negative

• 40,173 shares sold by the CEO on 10/01/2025, reducing direct holdings
• Sale prices ranged $48.00–$48.25, which may be perceived as monetizing a portion of holdings

Insights

Insider Transactions Analyst

TL;DR: CEO exercised 53,785 options at $25.30 and sold 40,173 shares at a weighted $48.07 under a 10b5-1 plan.

These filings confirm a contemporaneous exercise of an employee stock option and a partial disposition of shares on the same date 10/01/2025. The exercise price and option terms are disclosed, and the sale prices are given as a weighted average with a disclosed range of $48.00–$48.25.

This Form 4 also documents the reporting person’s direct and indirect beneficial ownership: 1,160,870 shares directly and 1,005,600 shares indirectly via the KBT Trust, as reported on the form.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Khattar Jack A.

(Last) (First) (Middle)

C/O SUPERNUS PHARMACEUTICALS INC.

9715 KEY WEST AVENUE

(Street)

ROCKVILLE MD 20850

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SUPERNUS PHARMACEUTICALS, INC. [ SUPN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, CEO

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/01/2025		M(1)		53,785	A	$25.3	1,201,043	D
Common Stock	10/01/2025		S		40,173	D	$48.07(2)	1,160,870	D
Common Stock								1,005,600	I	By the KBT Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$25.3	10/01/2025		M			53,785	02/24/2018(3)	02/24/2027	Common Stock	53,785	$0	83,517	D

Explanation of Responses:

1. Transaction made pursuant to a 10b5-1 trading plan adopted November 14, 2024.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.00 to $48.25. The Reporting Person undertakes to provide to Supernus Pharmaceuticals, Inc. ("Supernus"), any security holder of Supernus, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

3. The option vests in four equal installments beginning on February 24, 2018

Remarks:

	/s/ Timothy C. Dec, as attorney-in-fact	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Jack A. Khattar report on Form 4 for SUPN?

On 10/01/2025 Mr. Khattar acquired 53,785 shares by exercising employee stock options at $25.30 and sold 40,173 shares at a weighted average price of $48.07.

Were the sales executed under a pre-arranged plan?

Yes, the acquisition was made pursuant to a 10b5-1 trading plan adopted November 14, 2024, and the filer states the sale transactions fall within that plan.

How many Supernus shares does Mr. Khattar beneficially own after the transactions?

The Form 4 reports 1,160,870 shares owned directly and 1,005,600 shares indirectly through the KBT Trust.

What was the price range for the sold shares?

The sale occurred at prices ranging from $48.00 to $48.25, with a weighted average of $48.07.

What are the terms of the exercised option reported?

The option has an exercise price of $25.30, vests in four equal installments beginning 02/24/2018, and has an expiration date of 02/24/2027.