[Form 4] SUPERNUS PHARMACEUTICALS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Supernus Pharmaceuticals (SUPN) reported insider equity activity by its President, CEO and Director on 10/02/2025. The reporting person acquired 20,000 and 19,320 shares of common stock at $0 upon settlement of performance share units granted in 2021 and 2024. To cover taxes, the company withheld 7,796 and 7,529 shares at $46.21.

Following these transactions, the reporting person directly beneficially owned 1,185,228 shares. An additional 1,005,600 shares were beneficially owned indirectly via the KBT Trust. The performance share unit awards vested based on achievement of individual performance objectives set in 2021 and 2024.

Insights

Executive compensation & governance analyst

Routine PSU vesting with tax withholding; neutral impact.

The transactions reflect standard settlement of performance share units into common stock, recorded with code M at an exercise price of $0. The company withheld shares (code F) at $46.21 to satisfy taxes, a common non-cash mechanism.

Post‑transaction holdings show 1,185,228 shares directly and 1,005,600 indirectly via the KBT Trust. The awards vested upon achievement of defined objectives established in 2021 and 2024. These entries document equity compensation mechanics; market impact depends on future disposition decisions not indicated here.

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^*

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)
10/02/2025

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	10/02/2025		M		20,000(1)	A	$0	1,181,233	D
Common Stock	10/02/2025		F		7,796(2)	D	$46.21	1,173,437	D
Common Stock	10/02/2025		M		19,320(3)	A	$0	1,192,757	D
Common Stock	10/02/2025		F		7,529(2)	D	$46.21	1,185,228	D
Common Stock								1,005,600	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
Performance Share Unit	$0	10/02/2025		M			20,000	(4)	(4)	Common Stock	20,000	$0	0	D
Performance Share Units	$0	10/02/2025		M			19,320	(5)	(5)	Common Stock	19,320	$0	0	D

Explanation of Responses:

1. Shares of common stock received upon the settlement of certain Performance Share Units granted to the Reporting Person on February 19, 2021.

2. Represents the number of shares of common stock withheld by the Company to satisfy tax withholding requirements in connection with the vesting of Performance Share Units.

3. Shares of common stock received upon the settlement of certain Performance Share Units granted to the Reporting Person on February 22, 2024.

4. On February 19, 2021, the Reporting Person was awarded Performance Share Units a portion of which vested upon the achievement of individual performance objectives within a defined performance period, which objectives were established on April 30, 2021.

5. On February 22, 2024, the Reporting Person was awarded Performance Share Units a portion of which vested upon the achievement of individual performance objectives within a defined performance period, which objectives were established on June 24, 2024.

Remarks:

	/s/ Timothy C. Dec, as attorney-in-fact	10/03/2025
	** Signature of Reporting Person	Date
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