Supernus Pharmaceuticals (SUPN) director swaps 4,475 RSUs for common stock

Rhea-AI Filing Summary

Supernus Pharmaceuticals director Frederick M. Hudson reported a routine equity award conversion. On February 24, 2026, 4,475 restricted stock units were disposed back to the issuer at no cost, and he simultaneously acquired 4,475 shares of common stock at no cost.

Each restricted stock unit represents the right to receive one share of Supernus common stock upon vesting, with settlement in stock scheduled to occur on February 19, 2026. After these transactions, Hudson directly holds 65,782 shares of common stock, reflecting a shift from derivative RSU holdings into outright share ownership rather than an open-market purchase or sale.

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

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hudson Frederick M.

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026

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	02/24/2026		A		4,475	A	$0	65,782	D

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
Restricted Stock Unit	(1)	02/24/2026		D			4,475	(2)	(2)	Common Stock	4,475	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents the right to receive one share of Supernus common stock upon vesting.

2. These restricted stock units will be settled in common stock upon vesting, which will occur on February 19, 2026.

Remarks:

	/s/ Timothy C. Dec, as attorney-in-fact	02/25/2026
	** 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 insider transactions did Frederick M. Hudson report at SUPN?

Frederick M. Hudson reported a routine equity award conversion involving 4,475 restricted stock units and 4,475 common shares. The RSUs were disposed to the issuer at no cost, while he received an equivalent number of common shares, maintaining economic exposure.

How many Supernus Pharmaceuticals (SUPN) shares does Hudson own after this Form 4?

After the reported transactions, Frederick M. Hudson directly owns 65,782 shares of Supernus common stock. This reflects the settlement of 4,475 restricted stock units into common shares and indicates his current post-transaction direct equity stake in the company.

Did Frederick M. Hudson buy or sell SUPN shares in the open market?

The filing does not show any open-market buying or selling. Instead, it reports an issuer-related disposition of 4,475 restricted stock units and a grant or award of 4,475 common shares, both at a reported price of $0.0000 per share.

What do the restricted stock units in the SUPN Form 4 represent?

Each restricted stock unit represents the right to receive one share of Supernus common stock upon vesting. According to the footnotes, these RSUs will be settled in common stock when they vest, with settlement scheduled to occur on February 19, 2026.

How does this SUPN Form 4 affect Hudson’s overall ownership?

Hudson’s overall economic interest remains similar, but its form changes. He exchanged 4,475 restricted stock units for 4,475 common shares, increasing his directly held stock to 65,782 shares while reducing derivative RSU holdings by the same amount.