Supernus director Barlow exchanges 27,045 shares
Outstanding equity awards were converted under the merger’s 1.5401 exchange ratio, with vesting terms continuing except for performance stock unit awards.
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Form Type
4
Rhea-AI Filing Summary
Carrolee Barlow reported disposition transactions in this Form 4 filing. Supernus Pharmaceuticals, Inc. director Carrolee Barlow’s 27,045 common shares were canceled in the merger effective November 2, 2026, and converted into the right to receive 1.5401 shares of Indivior common stock per share. Indivior changed its name to Supernus, Inc.; Barlow received no cash consideration other than cash in lieu of a fractional share.
The merger also converted Barlow’s 2,989 restricted stock units and director stock options into corresponding Supernus, Inc. awards. The converted awards retained substantially the same terms, including vesting, with performance stock unit awards converted into time-vesting restricted stock units.
Insider Trade Summary
Other: 103,009 shares
Other
11 txns
Insider
Barlow Carrolee
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Restricted Stock Unit F2, F3, F4 | 2,989 | $0.00 | $0.00 |
| Other | Director Stock Option (Right to Buy) F3, F5 | 10,213 | $0.00 | $0.00 |
| Other | Director Stock Option (Right to Buy) F3 | 12,427 | $0.00 | $0.00 |
| Other | Director Stock Option (Right to Buy) F3 | 9,305 | $0.00 | $0.00 |
| Other | Director Stock Option (Right to Buy) F3 | 7,365 | $0.00 | $0.00 |
| Other | Director Stock Option (Right to Buy) F3 | 6,847 | $0.00 | $0.00 |
| Other | Director Stock Option (Right to Buy) F3, F6 | 6,293 | $0.00 | $0.00 |
| Other | Director Stock Option (Right to Buy) F3, F7 | 8,252 | $0.00 | $0.00 |
| Other | Director Stock Option (Right to Buy) F3, F8 | 7,296 | $0.00 | $0.00 |
| Other | Director Stock Option (Right to Buy) F3, F9 | 4,977 | $0.00 | $0.00 |
| Other | Common Stock F1 | 27,045 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Unit — 0 contracts (Direct);
Director Stock Option (Right to Buy) — 0 contracts (Direct);
Common Stock — 0 shares (Direct)
Holdings Before and After:
Restricted Stock Unit, 2,989 to 0 contracts (Direct);
Director Stock Option (Right to Buy), 72,975 to 0 contracts (Direct);
Common Stock, 27,045 to 0 shares (Direct)
Footnotes (9)
- 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 11/2/26, Artemis Merger Sub Inc. merged with and into Supernus Pharmaceuticals, with Supernus Pharmaceuticals surviving as a wholly-owned subsidiary of Indivior. At the effective time, each outstanding share of Supernus Pharmaceuticals common stock was cancelled and automatically converted into the right to receive 1.5401 shares of Indivior common stock. In connection with the merger, Indivior changed its name to "Supernus, Inc." The reporting person's shares of Supernus Pharmaceuticals common stock were disposed of, and the shares of Supernus, Inc. common stock received in exchange were acquired, pursuant to the merger. The reporting person received no cash consideration other than cash in lieu of a fractional share.
- F2. Each restricted stock unit represents the right to receive one share of Supernus common stock upon vesting.
- F3. 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.
- F4. These restricted stock units will be settled in common stock upon vesting, which will occur on February 18, 2027.
- F5. The option vests in four equal annual installments beginning on June 27, 2019.
- F6. The option vests on February 23, 2024.
- F7. The option vests on February 22, 2025
- F8. The option vests on February 19, 2026.
- F9. Each option vests on February 18, 2027.
Key Figures
Common shares disposed: 27,045 shares
Merger exchange ratio: 1.5401 Indivior common shares per Supernus Pharmaceuticals share
Restricted stock units: 2,989 units
+3 more
6 metrics
Common shares disposed
27,045 shares
Merger effective November 2, 2026
Merger exchange ratio
1.5401 Indivior common shares per Supernus Pharmaceuticals share
Common shares converted in the merger
Restricted stock units
2,989 units
Converted into corresponding Supernus, Inc. awards
Director stock option award
10,213 underlying shares; $58.15 per-share exercise price
Award terms reported before conversion
Director stock option award
12,427 underlying shares; $36.75 per-share exercise price
Award terms reported before conversion
Director stock option award
9,305 underlying shares; $23.99 per-share exercise price
Award terms reported before conversion
Key Terms
exchange ratio, restricted stock unit, equity award, cash in lieu of a fractional share, +1 more
5 terms
exchange ratio financial
"the number of Supernus, Inc. shares equal to the number of Supernus Pharmaceuticals shares"
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.
restricted stock unit technical
"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.
equity award financial
"each outstanding Supernus Pharmaceuticals equity award was assumed by Indivior"
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.
time-vesting restricted stock units technical
"converted into time-vesting restricted stock units"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How were Carrolee Barlow’s stock options converted in the merger?
Outstanding equity awards were assumed by Indivior, renamed Supernus, Inc., and converted into corresponding awards. The number of covered shares was multiplied by 1.5401 and rounded down, while each per-share exercise price was divided by 1.5401 and rounded up to the nearest whole cent; substantially the same terms, including vesting, applied.
AI-generated analysis. How Rhea-AI works. Not financial advice.
