Supernus director’s awards convert at 1.5401 ratio
The option exercise prices were divided by 1.5401 and rounded up to the nearest whole cent under the conversion terms.
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Form Type
4
Rhea-AI Filing Summary
Bethany Sensenig reported disposition transactions in this Form 4 filing. Supernus Pharmaceuticals, Inc. director Bethany Sensenig reported that, at the merger’s effective time on November 2, 2026, her outstanding equity awards were assumed by Indivior, renamed Supernus, Inc., and automatically converted. The reported awards covered options for 24,153, 8,252, 7,296 and 4,977 shares, plus 2,989 restricted stock units. The conversion used a 1.5401 exchange ratio; converted awards were subject to substantially the same terms and conditions, including vesting.
Insider Trade Summary
Other: 47,667 shares
Other
5 txns
Insider
Sensenig Bethany
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Director Stock Option (Right to Buy) F1, F2 | 24,153 | $0.00 | $0.00 |
| Other | Director Stock Option (Right to Buy) F1, F3 | 8,252 | $0.00 | $0.00 |
| Other | Director Stock Option (Right to Buy) F1, F4 | 7,296 | $0.00 | $0.00 |
| Other | Director Stock Option (Right to Buy) F1, F5 | 4,977 | $0.00 | $0.00 |
| Other | Restricted Stock Unit F6, F1, F7 | 2,989 | $0.00 | $0.00 |
Holdings After Transaction:
Director Stock Option (Right to Buy) — 0 contracts (Direct);
Restricted Stock Unit — 0 contracts (Direct)
Holdings Before and After:
Director Stock Option (Right to Buy), 44,678 to 0 contracts (Direct);
Restricted Stock Unit, 2,989 to 0 contracts (Direct)
Footnotes (7)
- F1. Pursuant to the Agreement and Plan of Merger, dated as of August 1, 2026, by and among Indivior Pharmaceuticals, Inc. ("Indivior"), Artemis Merger Sub Inc. and Supernus Pharmaceuticals, Inc. ("Supernus Pharmaceuticals"), at the effective time of the merger on 11/2/2026, each outstanding Supernus Pharmaceuticals equity award was assumed by Indivior (renamed Supernus, Inc.) and automatically converted into a corresponding Supernus, Inc. equity award covering the number of Supernus, Inc. shares equal to the number of Supernus Pharmaceuticals shares subject to the award multiplied by the 1.5401 exchange ratio (rounded down), with the per-share exercise price divided by the exchange ratio and rounded up to the nearest whole cent. Each converted award is subject to substantially the same terms and conditions, including vesting, that applied immediately prior to the effective time, except performance stock unit awards ceased were converted into time-vesting restricted stock units.
- F2. The option vests in four equal annual installments beginning on August 17, 2024.
- F3. The option vests on February 22, 2025.
- F4. The option vests on February 19, 2026.
- F5. Each option vests on February 18, 2027.
- F6. Each restricted stock unit represents the right to receive one share of Supernus common stock upon vesting.
- F7. These restricted stock units will be settled in common stock upon vesting, which will occur on February 18, 2027.
Key Figures
Director option award shares: 24,153 shares
Director option award shares: 8,252 shares
Director option award shares: 7,296 shares
+3 more
6 metrics
Director option award shares
24,153 shares
Exercise price $30.22 per share; expiration August 17, 2033.
Director option award shares
8,252 shares
Exercise price $27.94 per share; expiration February 22, 2034.
Director option award shares
7,296 shares
Exercise price $33.52 per share; expiration February 19, 2035.
Director option award shares
4,977 shares
Exercise price $50.20 per share; expiration February 18, 2036.
Restricted stock units
2,989 units
Reported November 2, 2026.
Merger exchange ratio
1.5401
Applied to convert outstanding equity awards.
Key Terms
equity award, exchange ratio, vesting, restricted stock unit, +1 more
5 terms
equity award financial
"each outstanding Supernus Pharmaceuticals equity award was assumed"
An equity award is a form of pay where a company gives employees, executives or other stakeholders the right to own or buy company shares—either immediately or after meeting certain conditions. Think of it like receiving slices of the company pie now or coupons to claim slices later; it matters to investors because it affects ownership dilution, executive incentives and reported compensation costs, and signals how management is being rewarded and retained.
exchange ratio financial
"multiplied by the 1.5401 exchange ratio"
The exchange ratio is the number used to decide how many shares of one company you get for each share you own in another company during a merger or acquisition. It’s like a recipe that tells you how to swap shares fairly, ensuring both companies’ values are balanced. This ratio matters because it determines how ownership divides between the companies' shareholders.
vesting financial
"including vesting"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
restricted stock unit financial
"Each restricted stock unit represents the right to receive one share"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
exercise price financial
"per-share exercise price divided by the exchange ratio"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What awards did SUPN director Bethany Sensenig report?
On November 2, 2026, Bethany Sensenig reported options covering 24,153, 8,252, 7,296 and 4,977 shares, plus 2,989 restricted stock units. The awards were reported in connection with the merger’s effective time.
How were SUPN equity awards converted in the merger?
Each outstanding Supernus Pharmaceuticals equity award was assumed by Indivior, renamed Supernus, Inc., and automatically converted using the 1.5401 exchange ratio. Award share counts were multiplied by that ratio and rounded down; per-share option exercise prices were divided by it and rounded up to the nearest whole cent. Converted awards retained substantially the same terms and conditions, including vesting, with performance stock units converted into time-vesting restricted stock units.
AI-generated analysis. How Rhea-AI works. Not financial advice.
