SUPN insider reports 25,000-share sale under 10b5-1 plan
Rhea-AI Filing Summary
Insider sale under 10b5-1 plan: A company director, Charles W. Newhall III, reported sales of a total of 25,000 shares of Supernus Pharmaceuticals, Inc. (SUPN) executed on 10/09/2025 under a trading plan adopted 03/03/2025. The sales are recorded as two blocks: 23,800 shares at a weighted average price of $50.73 and 1,200 shares at a weighted average price of $51.55, leaving beneficial ownership reported at 104,644 shares after the transactions.
The reporter certified the transactions were made pursuant to a Rule 10b5-1 plan and provided weighted-price ranges: $50.12–$51.08 for the larger block and $51.39–$51.76 for the smaller block. The Form 4 was signed by an attorney-in-fact on 10/10/2025.
Positive
- Transactions executed under a 10b5-1 plan, which provides an affirmative defense when plan conditions are met
- Complete disclosure of weighted-average price ranges for the multiple trades enhances transparency
Negative
- Director reduced beneficial ownership by 25,000 shares, lowering reported stake to 104,644 shares
- Sales occurred in two price bands, which may prompt investor questions about timing despite being plan-based
Insights
Director sold shares under a pre-established 10b5-1 plan; timing appears rule-compliant.
The reporter, a director, executed sales totaling 25,000 shares on 10/09/2025 under a 10b5-1 trading plan adopted on 03/03/2025. Using a plan provides an affirmative defense to insider trading claims when plan conditions are met.
Key dependencies include whether the plan was adopted when the reporting person was not in possession of material nonpublic information and whether trades followed the plan’s terms. Monitor any subsequent filings or disclosures that might indicate deviations from the plan in the near term.
Sale size is modest relative to typical director holdings but reduces reported beneficial ownership.
The sale reduced reported ownership to 104,644 shares. The transactions were executed across price ranges with weighted averages of $50.73 and $51.55, which provides transparency about execution levels on 10/09/2025.
Market-impact risks are minor for most investors given the absolute size, but watch for further insider activity or clustered sales from other insiders over the next few weeks as potential signals to the market.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 23,800 | $50.73 | $1.21M |
| Sale | Common Stock | 1,200 | $51.55 | $62K |
Footnotes (1)
- Transaction made pursuant to a 10b5-1 trading plan adopted March 3, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $50.12 to $51.08. 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 price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.39 to $51.76. 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.
