Supernus CEO Khattar exercises options and sells shares under 10b5-1 plan
Rhea-AI Filing Summary
Insider transactions by Jack A. Khattar, President and CEO of Supernus Pharmaceuticals (SUPN): On 09/05/2025 Mr. Khattar exercised 73,176 employee stock options with a $25.30 exercise price and acquired those shares. The same day he sold 55,578 shares at a weighted average price of $46.01 (sales ranged $46.00–$46.09). After these transactions he beneficially owned 1,110,231 shares directly and 1,005,600 shares indirectly through the KBT Trust. The exercise was reported under a 10b5-1 plan adopted November 14, 2024.
Positive
- Option exercise of 73,176 shares at $25.30 increased vested ownership and aligns management with shareholder interests
- Transactions executed under a 10b5-1 plan, indicating preplanned trading and reducing appearance of opportunistic timing
- Clear reporting with post-transaction beneficial ownership totals and footnotes offering to provide granular sale prices on request
Negative
- Insider sale of 55,578 shares reduces direct shareholdings and may be perceived negatively by some investors
- Lack of per-trade price breakdown in the Form 4 (only a weighted average provided), though the filer offers to supply details on request
Insights
TL;DR: Routine insider option exercise and partial sale under a 10b5-1 plan; no new material corporate disclosure.
These entries show an option exercise (73,176 shares at $25.30) and contemporaneous open-market sales (55,578 shares at a weighted $46.01). The filing notes the trades were made pursuant to a 10b5-1 plan adopted Nov 14, 2024, which signals preplanned disposition rather than ad hoc sales. Post-transaction direct beneficial ownership remains above one million shares, with an additional 1,005,600 shares held indirectly via the KBT Trust.
TL;DR: Insider activity is transparent and documented; 10b5-1 plan and signed Form 4 provide clear compliance trail.
The Form 4 discloses both acquisition via option exercise and disposals, with an explicit footnote on the 10b5-1 trading plan and a commitment to provide trade-level price details on request. Signature executed by an attorney-in-fact is included, meeting routine reporting formalities. This is a governance-compliant disclosure of executive-level transactions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 73,176 | $0.00 | -- |
| Exercise | Common Stock | 73,176 | $25.30 | $1.85M |
| Sale | Common Stock | 55,578 | $46.01 | $2.56M |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Transaction made pursuant to a 10b5-1 trading plan adopted November 14, 2024. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $46.00 to $46.09. 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. The option vests in four equal installments beginning on February 24, 2018.
