Supernus (NASDAQ: SUPN) CEO-linked KBT Trust sells 35,000 shares under 10b5-1 plan

Rhea-AI Filing Summary

SUPERNUS PHARMACEUTICALS, INC. President and CEO Jack A. Khattar reported trust-related stock activity in Supernus. On March 13, 2026, a trust associated with him, the KBT Trust, sold a total of 35,000 shares of common stock in open-market transactions at weighted average prices around $50–$52 per share under a pre-arranged Rule 10b5-1 trading plan adopted on December 12, 2025.

On the same date, 12,500 shares were transferred from the KBT Trust to Khattar without consideration, moving from indirect to direct ownership. Following these changes, he held 1,241,144 shares directly and 958,100 shares indirectly through the KBT Trust, indicating a partial, planned reduction in the trust’s holdings while maintaining a substantial overall position.

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).

X

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^*

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)
03/13/2026

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	03/13/2026		J		12,500	A	(1)	1,241,144	D
Common Stock	03/13/2026		J		12,500	D	(1)	993,100	I	By the KBT Trust
Common Stock	03/13/2026		S(2)		24,138	D	$50.09(3)	968,962	I	By the KBT Trust
Common Stock	03/13/2026		S(2)		10,742	D	$51(4)	958,220	I	By the KBT Trust
Common Stock	03/13/2026		S(2)		120	D	$51.75	958,100	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

Explanation of Responses:

1. The Reporting Person is filing this Form 4 to reflect the fact that 12,500 shares were transferred from the KBT Trust to the Reporting Person on March 13, 2026 without consideration and are now owned directly.

2. Transaction made pursuant to a 10b5-1 trading plan adopted December 12, 2025.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $49.63 to $50.62. 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.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.63 to $51.54. The Reporting Person undertakes to provide to 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.

Remarks:

	/s/ Timothy C. Dec, as attorney-in-fact	03/16/2026
	** 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).
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FAQ

What insider transactions did SUPN CEO Jack Khattar report on this Form 4?

Jack A. Khattar reported that a related trust sold 35,000 shares of Supernus common stock and transferred 12,500 shares to him. The transactions occurred on March 13, 2026 and involved both open-market sales and a no‑consideration transfer between the trust and his direct ownership.

How many SUPN shares did the KBT Trust sell in the latest filing?

The KBT Trust sold 35,000 shares of Supernus common stock in open-market transactions. These sales were executed at weighted average prices near $50 to $52 per share. The sales reduced the trust’s holdings but did not eliminate its position in the stock.

Were the SUPN insider sales by the KBT Trust pre-planned?

Yes. A footnote states the transactions were made pursuant to a Rule 10b5-1 trading plan adopted on December 12, 2025. Such plans pre-schedule trades in advance, indicating the timing of these sales was set beforehand rather than decided opportunistically.

How did Jack Khattar’s direct ownership of SUPN shares change?

Khattar received 12,500 shares transferred from the KBT Trust without consideration, increasing his direct holdings. After the transactions, he directly owned 1,241,144 shares. This shift reflects a reclassification from indirect to direct ownership rather than a market purchase.

What are Jack Khattar’s total reported SUPN holdings after these transactions?

After the reported transactions, Khattar held 1,241,144 shares directly and 958,100 shares indirectly through the KBT Trust. Together, these figures show he continues to maintain a large overall equity position in Supernus despite the trust’s 35,000-share sale.

At what prices were the SUPN shares sold in the insider transactions?

The reported weighted average sale prices were $50.09, $51.00 and $51.75 per share. Footnotes explain these represent multiple trades in ranges from $49.63 up to $51.54, with full trade-by-trade details available upon request from the company or regulators.